Do Shareholders or Stakeholders Appropriate the Rents from Corporate Diversification? The Influence of Ownership Structure
Conference Proceeding Article
The article presents the results of research into the relative influence of stakeholders and shareholders on corporate strategic planning in terms of diversification and performance, focusing on concepts such as opportunity cost and rent appropriation. An overview of related previous studies is provided, along with details of the research protocol, which involved data analysis drawn from a sample of Japanese firms and their corporate profits from the years 1990 through 2004. A distinction between transactional and relational ownership is described, which can lead to different priorities in terms of profit and growth.
Corporate Finance | Strategic Management Policy
Strategy and Organisation
Academy of Management Proceedings
Academy of Management
City or Country
David, Partiban; O’Brien, Jonathan P.; YOSHIKAWA, Toru; and Delios, Andrew.
Stakeholder Influences on Diversification: Implications for Shareholders and Stakeholders. (2009). Academy of Management Proceedings. 1-6. Research Collection Lee Kong Chian School Of Business.
Available at: http://ink.library.smu.edu.sg/lkcsb_research/2915