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Theoretical Foundations of Stakeholder Theory

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  • Spartak Keremidchiev

Abstract

The article seeks to answer the question: on what foundations is the theory of stakeholders built. The contributions and achievements of economic, political and legal theories and concepts used in this theory, such as strategic management, systems analysis, motivational theories, industrial relations, etc. are revealed. The active implication of stakeholder theory in various recent policy initiatives might shed light on a new road for the development of corporations and society.

Suggested Citation

  • Spartak Keremidchiev, 2021. "Theoretical Foundations of Stakeholder Theory," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 70-88.
    • Handle: RePEc:bas:econst:y:2021:i:1:p:70-88
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    File URL: https://www.iki.bas.bg/Journals/EconomicStudies/2021/2021-1/4_Keremidchiev.pdf
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    References listed on IDEAS

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    1. Raghuram G. Rajan & Luigi Zingales, 1998. "Power in a Theory of the Firm," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 113(2), pages 387-432.
    2. Michael C. Jensen, 2010. "Value Maximization, Stakeholder Theory, and the Corporate Objective Function," Journal of Applied Corporate Finance, Morgan Stanley, vol. 22(1), pages 32-42, January.
    3. Miroslav Nedelchev, 2018. "Bibliometric Review of Corporate Governance Theories and Methods," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 126-145.
    4. Plamen D. Tchipev, 2014. "National CG Codex of Bulgaria: Performance under the Crisis," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 62-76.
    5. Ouchi, William, 1981. "Theory Z: How American business can meet the Japanese challenge," Business Horizons, Elsevier, vol. 24(6), pages 82-83.
    6. Pavlinka Ileva-Naidenova & Spartak Keremidchiev, 2012. "Contemporary Projections of the Participation of the Personnel in the Ownership, Management and Financial Results of the Enterprises," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 126-170.
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    Cited by:

    1. Annie Dimitrova, 2023. "Trends in the Development of the Structure of the Agricultural Holdings in Bulgaria," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 7, pages 191-204.
    2. Mohammad Wasiq & Mustafa Kamal & Nazim Ali, 2023. "Factors Influencing Green Innovation Adoption and Its Impact on the Sustainability Performance of Small- and Medium-Sized Enterprises in Saudi Arabia," Sustainability, MDPI, vol. 15(3), pages 1-22, January.

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    More about this item

    JEL classification:

    • G3 - Financial Economics - - Corporate Finance and Governance
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics

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