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RESEARCH PRODUCT
Corporate Governance: Stakeholder Value Versus Shareholder Value
Gérard CharreauxPhilippe Desbrièressubject
Relevance theorybusiness.industryCorporate governanceStakeholderAccountingBusiness valueShareholder valueMicroeconomicsjel:G39Shareholdershareholder value;stakeholder value;corporate governance; value creation;value sharing.businessStakeholder theoryValue (mathematics)description
Unsatisfied with the dominating shareholders point of view, that appears to be too limited to build a relevant theory of corporate governance, we propose an enlarged definition of the value which may be called, the stakeholder value. This definition and its associated measure are more suitable for the stakeholder approach to the firm and more relevant to understand the value creation and sharing mechanisms.
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2001-03-01 |