Alternative Title

Do Shareholders or Stakeholders Appropriate the Rents from Corporate Diversification? The Influence of Ownership Structure

Publication Type

Conference Proceeding Article

Publication Date

1-2009

Abstract

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.

Discipline

Corporate Finance | Strategic Management Policy

Research Areas

Strategy and Organisation

Publication

Academy of Management Proceedings

First Page

1

Last Page

6

ISSN

0065-0668

Identifier

10.5465/AMBPP.2009.44256519

Publisher

Academy of Management

City or Country

Chicago

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