Stakeholders are individuals who can substantially affect the decision-making and sharing part of the value created by firms. This paper explains how parties that have not exercised cooperative production efforts, hold decision-making rights and share rights to the value created. The objective of this paper is to present a theoretical explanation for the existence of stakeholder activity, based on the property rights theory. In addition, the paper explores examples of development banks and a system of certification of sustainable forest production, exploring strategic implications. The paper is organized into four parts. Following the introduction, part two presents a selective literature review, part three presents a property rights allocation model and part four presents cases and conclusions.
Ownership Control of Foreign Affiliates: A Property Rights Theory Perspective
