The paper is divided in two coordinate parts. The first considers in general the issue of stockholders vs. stakeholders oriented governance systems and their relative merits and demerits. The second part deals specifically with the issue of the principal-agent problem in a stakeholder context

Seen in historical perspective the main economic predicaments of the present world (such as poverty, inequality, backwardness) appear in a somewhat different light than in many current discussions, especially by sociologists, radical economists and political scientists. In the present paper the...

In the literature the issue of the protection of stakeholder interests (of employees in particular) is usually considered in a static context: how should the institutions of corporate governance be shaped having regard to already existing firms, conforming in particular to some subjective...