system would clearly differ from what is advocated by proponents of a stakeholder approach, as it would limit the rights of …

Corporate Social Responsibility (CSR) is here defined as a multi-stakeholder model of corporate governance and … like as authority and residual rights of control. As far as the normative point of view is concerned, multi-stakeholder …

We consider the advantages and disadvantages of stakeholder-oriented firms that are concerned with employees and … suppliers as well as shareholders compared to shareholderoriented firms. Societies with stakeholder-oriented firms have higher … voluntarily choose to be stakeholder-oriented because this increases their value. Consumers that prefer to buy from stakeholder …

Rationales for a stakeholder model of corporate governance are based on enlightened self-interest, moral imperative …, and/or externalities. Of these, the externalities rationale holds the most promise to justify a stakeholder focus. Recent … evidence, however, indicates that the benefits of a stakeholder focus are limited because the social costs of many corporate …

We describe a unifying theoretical framework for stakeholder analysis, establishing a rigorous mathematical formulation …; legitimacy arises through a projection mechanism. Five attributes contributing to stakeholder salience emerge from the framework ….Three are identified with power, legitimacy, and urgency, well known from classical stakeholder theory; the remaining two …