The Stakeholder Theory of the Firm: A Methodology to Generate Value Matrix Weights

Jamshid C. Hosseini and Steven N. Brenner

Business Ethics Quarterly, 1992, vol. 2, issue 2, 99-119

Abstract: Various authors advocate consideration of stakeholder value concerns in organizational decision making. Brenner and Cochran (1990, 1991) propose a stakeholder theory of the firm which contains several propositions and a stakeholder value matrix. In order to begin any stakeholder model validation, an approach is needed to measure stakeholder value and influence weights. We propose a multicriteria decision modeling approach, utilizing the analytic hierarchy process, to estimate stakeholder value matrix weights. This approach is illustrated using a simplified example and suggestions are made regarding the process needed to begin to validate the stakeholder theory of the firm.

Date: 1992
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