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http://hdl.handle.net/10419/25527
  
Title:Stakeholder capitalism, corporate governance and firm value PDF Logo
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
Persistent Identifier of the first edition:urn:nbn:de:hebis:30-50972
Document Type:Working Paper
Appears in Collections:CFS Working Paper Series, Universität Frankfurt a. M.

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