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| Author: | Zattoni, A. |
| Title: | Who should control a corporation? Toward a contingency stakeholder model for allocating ownership rights |
| Journal: | Journal of Business Ethics
2011 : OCT I, VOL. 103:2, p. 255-274 |
| Index terms: | corporate governance rights issues shareholders stakeholders theories models |
| Freeterms: | ownership |
| Language: | eng |
| Abstract: | Some companies may allocate ownership (henceforth as: o-ship) rights to stakeholders different from shareholders. This article contributes to an understanding of this evidence by developing a contingency model for the allocation of o-ship rights. The model elucidates why companies, despite legal pressures, vary in their allocation of o-ship rights. According to the model, 'critical' contributions involve: 1. contractual problems due to specific investments, long-term relationships, and low measurability, 2. the assumption of the uncertainty resting on the company, and 3. the supply of scarce and valuable resources. The model is dynamic because it also provides a basis for understanding why the allocation of o-ship rights' changes with time. Finally, presented are the strategies for companies to be used to realize an efficient distribution of o-ship rights among their stakeholders. |
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