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Tinged shareholder theory: or what’s so special about stakeholders?

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Abstract:

This paper contrasts the normative foundations of the stakeholder and shareholder theories of the firm. It demonstrates how the shareholder theory of the firm appears to have at least as much normative support as stakeholder theory and suggests that a way forward may be for a variant of pure shareholder theory to emerge.

Document Type: Research Article

DOI: http://dx.doi.org/10.1111/1467-8608.00136

Affiliations: Newcastle Business School, University of Northumbria at Newcastle

Publication date: April 1, 1999

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