|本期目录/Table of Contents|

[1]王涛,李志军.利益相关者理论的缺陷与企业市场价值观点[J].长安大学学报(社科版),2005,7(04):31-34.
　WANG Tao,LI Zhi-jun.Defects of stakeholder theory and issue of corporation market value[J].Journal of Chang＇an University(Social Science Edition),2005,7(04):31-34.
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利益相关者理论的缺陷与企业市场价值观点 (PDF)
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《长安大学学报（社科版）》[ISSN:1671-6248/CN:61-1391/C]

卷:
第7卷
期数:
2005年04期
页码:
31-34
栏目:
交通运输与管理
出版日期:
2005-12-20

文章信息/Info

Title:
Defects of stakeholder theory and issue of corporation market value
作者:
王涛1; 李志军2
1.西北大学经济管理学院,陕西西安　710069; 2.西安交通大学经济与金融学院,陕西西安　710061
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
关键词:
经济学; 利益相关者理论; 公司治理; 企业市场价值; 股东; 契约
Keywords:
ecomomics;  stakeholder theory;  corporation governance;  corporation market value;  shareholder;  contract
分类号:
F270
DOI:
-
文献标志码:
A
摘要:
在批判新古典企业理论的基础上,利益相关者理论强调企业的所有权由企业的权益相关者 分享,而不应由出资者独占。但是,作为一方新兴的理论,其理论基础和实践都存在不足。分析利 益相关者理论存在的问题,说明企业市场价值最大化的理论观点可以弥补其理论不足,它是企业战 略和治理理论的发展趋势。
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.

参考文献/References:

[1]　Dodd E M.For whom are corporate managers trus- tees?[J]. Harvard Law Review,1932,(45):1145— 1143.
[2]　 Freeman R E.Strategic management:a stakeholder approach[M].Boston:Pitma Press,1984.
[3]　Clarkson M A.Stakeholder framework for analyzing and evaluating corporate social performance[J]. Acade- my of Management Review,1995,(20):92-117.
[4]　Donaldson T,Preston L.The stakeholder theory of corporation: concepts,evidence,and implications[J]. Academy of Management Review,1995,(20):63— 91.
[5]　Mitchell A,Wood D.Toward a theory of stakeholder identification and salience:defining the principle of who and what really counts[J].Academy of Manage- ment Review, 1997,22(4):853-866.
[6]　Blair M M.Ownership and control:rethinking corpo- rate governance for the twenty-first century[M]. Washington:Brookings Institute Press,1995.
[7]　Blair M M.Wealth creation and wealth sharing:a col- loquium on corporate governance and investments in human capital[M]. Washington:Brookings Institute Press,1996.
[8]　杨瑞龙,周业安.企业共同治理的经济学分析[M].北 京:经济科学出版社,2001.
[9]　周清杰,孙振华.论利益相关者的五大疑点[J].北京 工商大学学报,2003,(5):18-20.
[10]　Berman S L,Wicks A C,Kotha S,Jones T M.Does stakeholder orientation matter? the relationship be- tween stakeholder management models and firm fi- nancial performance[J].Academy of Management Re- view,1999,(42):485-506.
[11]　Jensen M C. Value maximization,stakeholder theory and the corporate objective function[J].Journal of Applied Corporate Finance 2001,(14):8-21.

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备注/Memo

备注/Memo:
收稿日期:2005-05-30
作者简介:王　涛(1967-),男,河北雄县人,西北大学经济管理学院博士生,主要从事企业理论、公司金融研究。
更新日期/Last Update: 2005-12-20