We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
Who is in charge? A property rights perspective on stakeholder governance.
- Authors
Klein, Peter G.; Mahoney, Joseph T.; McGahan, Anita M.; Pitelis, Christos N.
- Abstract
The article compares the shareholder theory and the stakeholder theory in managing a corporation. The shareholder theory is largely based on the agency theories of corporate governance, which according to Alchian and Demsetz views a company as a nexus of contracts. According to the authors, using the concept of property rights is the best way to find which of the two theories is superior. They conclude that combining the two theories could result in wealth maximization.
- Subjects
STAKEHOLDER theory; THEORY of the firm; CORPORATE governance; CONTRACTS; PROPERTY rights
- Publication
Strategic Organization, 2012, Vol 10, Issue 3, p304
- ISSN
1476-1270
- Publication type
Article
- DOI
10.1177/1476127012453108