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Cited by 335

The DOI matches its Crossref record; 16 of the 16 references it cites were found in a registry or an index.

Stakeholder Relationships and Social Welfare: A Behavioral Theory of Contributions to Joint Value Creation

Open access
Bridoux, Flore, Stoelhorst, J. W.·2016·Academy of Management Review
DOI 10.5465/amr.2013.0475
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Abstract

Firms play a crucial role in furthering social welfare through their ability to foster stakeholders’ contributions to joint value creation—value creation that involves a public good dilemma arising from high task and outcome interdependence—leading to what economists have labeled the “team production problem.” We build on relational models theory to examine how individual stakeholders’ contributions to joint value creation are shaped by stakeholders’ mental representations of their relationships with the other participants in value creation, and how these mental representations are affected by the perceived behavior of the firm. Stakeholder theorists typically contrast a broadly defined “relational” approach to stakeholder management with a “transactional” approach based on the price mechanism—and argue that the former is more likely than the latter to contribute to social welfare. Our theory supports this prediction for joint value creation but also implies that the dichotomy on which it is based is too coarse grained; there are three distinct ways to trigger higher contributions to joint value creation than through a transactional approach. Our theory also helps explain the tendency for firms and their stakeholders to converge on transactional relationships, despite their relative inefficiency in the context of joint value creation.

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Metadata

Authors
Bridoux, F., & Stoelhorst, J. W.
Venue
Academy of Management Review
Publisher
Academy of Management
Published
2016-04
Volume
41
Issue
2
Pages
229-251
ISSN
  • 0363-7425 (ISSN-L)
  • 1930-3807
DOI
10.5465/amr.2013.0475
OpenAlex
W2276575327
Cited by
335
References
16
FWCI
38.37
Type
journal article
Language
en
Open access
bronze

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