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

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  • Hosseini, Jamshid C.
  • Brenner, Steven N.

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.

Suggested Citation

  • Hosseini, Jamshid C. & Brenner, Steven N., 1992. "The Stakeholder Theory of the Firm: A Methodology to Generate Value Matrix Weights," Business Ethics Quarterly, Cambridge University Press, vol. 2(2), pages 99-119, April.
    • Handle: RePEc:cup:buetqu:v:2:y:1992:i:02:p:99-119_00
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    Cited by:

    1. Sooksan Kantabutra, 2019. "Achieving Corporate Sustainability: Toward a Practical Theory," Sustainability, MDPI, vol. 11(15), pages 1-39, August.
    2. Mahoney, Joseph & Asher, Cheryl Carleton & Mahoney, James, 2004. "Towards a Property Rights Foundation for a Stakeholder Theory of the Firm," Working Papers 04-0116, University of Illinois at Urbana-Champaign, College of Business.
    3. Hoffmann, A.O.I. & Pennings, J.M.E., 2008. "Shareholder activism and the role of marketing: a framework for analyzing and managing investor relations," Research Memorandum 007, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    4. Austen Agata, 2012. "Stakeholders management in public hospitals in the context of resources," Management, Sciendo, vol. 16(2), pages 217-230, December.
    5. Sooksan Kantabutra & Prattana Punnakitikashem, 2020. "Exploring the Process Toward Corporate Sustainability at a Thai SME," Sustainability, MDPI, vol. 12(21), pages 1-19, November.
    6. Michael Reiß & Tobias Bernecker, 2006. "Conjoint Controlling: Organisationsgerechte Controllingsysteme zwischen Better Budgeting und komplex-hybrider Steuerung," Metrika: International Journal for Theoretical and Applied Statistics, Springer, vol. 17(1), pages 5-26, March.
    7. Thomas A. Kochan & Saul A. Rubinstein, 2000. "Toward a Stakeholder Theory of the Firm: The Saturn Partnership," Organization Science, INFORMS, vol. 11(4), pages 367-386, August.
    8. Nuttasorn Ketprapakorn & Sooksan Kantabutra, 2019. "Culture Development for Sustainable SMEs: Toward a Behavioral Theory," Sustainability, MDPI, vol. 11(9), pages 1-15, May.
    9. Milena Parent & David Deephouse, 2007. "A Case Study of Stakeholder Identification and Prioritization by Managers," Journal of Business Ethics, Springer, vol. 75(1), pages 1-23, September.
    10. Lisa Huempfner & Dennis A. Kopf, 2017. "Using stakeholder marketing and social responsibility for new product development in higher education: a business Spanish model," Journal of Marketing for Higher Education, Taylor & Francis Journals, vol. 27(2), pages 251-273, July.
    11. Lei Wang & Heikki Juslin, 2013. "Corporate Social Responsibility in the Chinese Forest Industry: Understanding Multiple Stakeholder Perceptions," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 20(3), pages 129-145, May.
    12. André Laplume & Kent Walker & Zhou Zhang & Xin Yu, 2021. "Incumbent Stakeholder Management Performance and New Entry," Journal of Business Ethics, Springer, vol. 174(3), pages 629-644, December.
    13. Hoffmann, Arvid O.I. & Pennings, Joost M.E. & Wies, Simone, 2011. "Relationship marketing's role in managing the firm-investor dyad," Journal of Business Research, Elsevier, vol. 64(8), pages 896-903, August.

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