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The Stakeholder Theory of the Firm: A Methodology to Generate Value Matrix Weights

Published online by Cambridge University Press:  23 January 2015

Jamshid C. Hosseini  and
Steven N. Brenner
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Abstract

Various authors advocate consideration of stakeholder value concerns in organizational decision making. Brenner and Cochran (1990, 1991) propose a stakeholder theory of the firm which contains several propositions and a stakeholder value matrix. In order to begin any stakeholder model validation, an approach is needed to measure stakeholder value and influence weights. We propose a multicriteria decision modeling approach, utilizing the analytic hierarchy process, to estimate stakeholder value matrix weights. This approach is illustrated using a simplified example and suggestions are made regarding the process needed to begin to validate the stakeholder theory of the firm.

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Business Ethics Quarterly , Volume 2 , Issue 2 , April 1992 , pp. 99 - 119
Copyright
Copyright © Society for Business Ethics 1992

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