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Stakeholder Value Assessment: Attaining Company-Stakeholder Relationship Synergy

In: Corporate Governance in Central Europe and Russia

Author

Listed:
  • Irina Tkachenko

    (Ural State University of Economics)

  • Irina Pervukhina

    (Ural State University of Economics)

Abstract

The chapter discusses the issue of achieving a desired synergy from stakeholders’ interaction through assessing stakeholder contribution to the increment of the company’s value. Stakeholder value is defined using both subjective and formalized methods and models. The approaches used by foreign and Russian authors to monetary and non-monetary judgments of stakeholder value are reviewed and discussed. It is concluded that the methods of assessments of stakeholder value integrating both quantitative and qualitative indicators prevail. As advocates of stakeholder approach, the authors offer an integrated model of value-based management, aiming to increase value for all stakeholders, to broaden the value creation platform and to balance the multiple interests of stakeholders as a condition for the choice of strategic initiatives. Particular attention is given to the fact that when assessing stakeholder contribution within the framework of the integrated model, it is important to assess not only the contribution of owners as key financial stakeholders in the overall stakeholder value, but also the contribution of non-financial stakeholders, in particular, company employees.

Suggested Citation

  • Irina Tkachenko & Irina Pervukhina, 2020. "Stakeholder Value Assessment: Attaining Company-Stakeholder Relationship Synergy," CSR, Sustainability, Ethics & Governance, in: Maria Aluchna & Samuel O. Idowu & Irina Tkachenko (ed.), Corporate Governance in Central Europe and Russia, chapter 0, pages 89-105, Springer.
    • Handle: RePEc:spr:csrchp:978-3-030-39504-9_6
    DOI: 10.1007/978-3-030-39504-9_6
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    Cited by:

    1. Irina N. Tkachenko & Aleksandr A. Zlygostev, 2022. "Stakeholder risk research tools in the light of companies’ sustainable development," Journal of New Economy, Ural State University of Economics, vol. 23(1), pages 109-130, April.

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