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Corporate Governance: Stakeholder Value Versus Shareholder Value

Gerard Charreaux () and Philippe Desbrières ()

Journal of Management & Governance, 2001, vol. 5, issue 2, 107-128

Abstract: Unsatisfied with the dominatingshareholders' point of view, that appears to betoo limited to build a relevant theory ofcorporate governance, we propose an enlargeddefinition of the value which may be called,the stakeholder value. This definition and itsassociated measure are more suitable for thestakeholder approach to the firm and morerelevant to understand the value creation andsharing mechanisms. Copyright Kluwer Academic Publishers 2001

Keywords: corporate governance; shareholder value; stakeholder value; value creation; value sharing (search for similar items in EconPapers)
Date: 2001
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DOI: 10.1023/A:1013060105433

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