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CFS Working Paper Series, Universität Frankfurt a. M. >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/25527
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| Title: | | Stakeholder capitalism, corporate governance and firm value  |
| Authors: | | Allen, Franklin Carletti, Elena Marquez, Robert |
| Issue Date: | | 2007 |
| Series/Report no.: | | CFS Working Paper 2007/26 |
| Abstract: | | We consider the advantages and disadvantages of stakeholder-oriented firms that are concerned with employees and suppliers as well as shareholders compared to shareholderoriented firms. Societies with stakeholder-oriented firms have higher prices, lower output, 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. |
| Subjects: | | Firm Objective Bankruptcy Competition Stakeholder Governance |
| JEL: | | D02 D21 G34 L13 L21 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CFS Working Paper Series, Universität Frankfurt a. M.
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