Corporate Governance Beyond the Shareholder and Stakeholder Model

Research output: Contribution to journalArticleAcademicpeer-review

1 Citation (Scopus)

Abstract

There is a heated debate on shareholder versus stakeholder governance. The debate has expanded from traditional stakeholders who are directly involved with the company, such as employees and customers, to stakeholders who are indirectly affected by the company’s conduct, for example through ecological damage and climate change, including future stakeholders. But the lack of an integrated measure makes it difficult to hold the board accountable against multiple goals. This article develops an integrated model of corporate governance including current and future stakeholders, building on an integrated measure for corporate value. The board can use this integrated value measure to balance the interests of the various stakeholders in a structured way. The integrated value measure can also be used by stakeholders (including shareholders) to hold the board accountable for its decisions. Finally, the article examines mechanisms, such as stakeholder councils and sustainability-related performance pay, to include the interests of the various stakeholders on the board.

Original languageEnglish
JournalErasmus Law Review
Volume2023
Issue number1
DOIs
Publication statusPublished - 2023

Bibliographical note

Publisher Copyright:
© 2023, Boom Uitgevers. All rights reserved.

Fingerprint

Dive into the research topics of 'Corporate Governance Beyond the Shareholder and Stakeholder Model'. Together they form a unique fingerprint.

Cite this