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Stakeholder Capitalism, Corporate Governance and Firm Value

Опубликовано на портале: 25-11-2008
ECGI - Finance Working Paper. 2007.  No. 190.
Тематический раздел:
We consider the advantages and disadvantages of stakeholder-oriented firms that are concerned with employees and suppliers as well as shareholders compared to shareholder- oriented firms. Societies with stakeholder-oriented firms have higher prices, lower out- put, and can have greater firm value than shareholder-oriented societies. In some circumstances, firms may voluntarily choose to be stakeholder-oriented because this increases their value. Consumers that prefer to buy from stakeholder firms can also enforce a stakeholder society. With globalization entry by stakeholder firms is relatively more attractive than entry by shareholder firms for all societies.

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Christy Harris Lemak
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