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Defects of stakeholder theory and issue of corporation market value (PDF)

《长安大学学报(社科版)》[ISSN:1671-6248/CN:61-1391/C]

Issue:
2005年04期
Page:
31-34
Research Field:
交通运输与管理
Publishing date:
2005-12-20

Info

Title:
Defects of stakeholder theory and issue of corporation market value
Author(s):
WANG Tao1 LI Zhi-jun2
1. School of Economics and Management, Northwest University, Xian 710069, China; 2. School of Finance and Economics, Xian Jiaotong University, Xian 710061, China
Keywords:
ecomomics stakeholder theory corporation governance corporation market value shareholder contract
PACS:
F270
DOI:
-
Abstract:
On the basis of criticizing the neoclassicist theory, stakeholder theory emphasizes that the ownership of firm should be shared by stakeholders, not only by shareholders. This paper analyzes the stakeholder theory and points out its defects. This paper also offers a new viewpoint of value maximization in the corporation market, which can make up with the theoretical defects and can also become the trend of the corporation strategy and its governance.

References:

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Memo

Memo:
-
Last Update: 2005-12-20