A firm is an open system in which the growing complexity of the times we live in is fully reflected. Today enterprises are exposed to more influences than they were in the past, with new interests and new requirements to satisfy. In this context, managing relationships with stakeholders has become a crucial element of modern corporate governance. The chapter defines some economic principles for the management of the relationship with the primary stakeholders (defined as those who, voluntarily and knowingly, make some form of investment in the firm’s activity), both in a theoretical and in a practical perspective. Notably, the chapter is aiming at demonstrating that the quality of the relationship with the primary stakeholders has a great impact on the process of value creation and, consequenlty on the achievement of the institutional goal of the firm.

The primary stakeholder relationship: corporate governance and value creation

BERETTA ZANONI, Andrea
2006-01-01

Abstract

A firm is an open system in which the growing complexity of the times we live in is fully reflected. Today enterprises are exposed to more influences than they were in the past, with new interests and new requirements to satisfy. In this context, managing relationships with stakeholders has become a crucial element of modern corporate governance. The chapter defines some economic principles for the management of the relationship with the primary stakeholders (defined as those who, voluntarily and knowingly, make some form of investment in the firm’s activity), both in a theoretical and in a practical perspective. Notably, the chapter is aiming at demonstrating that the quality of the relationship with the primary stakeholders has a great impact on the process of value creation and, consequenlty on the achievement of the institutional goal of the firm.
Primary stakeholder; corporate governance; value creation
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11562/305679
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