Skip to main content
SpringerLink
Log in

Stakeholder Value Assessment: Attaining Company-Stakeholder Relationship Synergy

  • Chapter
  • First Online:
Corporate Governance in Central Europe and Russia

Part of the book series: CSR, Sustainability, Ethics & Governance ((CSEG))

Abstract

The chapter discusses the issue of achieving a desired synergy from stakeholders’ interaction through assessing stakeholder contribution to the increment of the company’s value. Stakeholder value is defined using both subjective and formalized methods and models. The approaches used by foreign and Russian authors to monetary and non-monetary judgments of stakeholder value are reviewed and discussed. It is concluded that the methods of assessments of stakeholder value integrating both quantitative and qualitative indicators prevail.

As advocates of stakeholder approach, the authors offer an integrated model of value-based management, aiming to increase value for all stakeholders, to broaden the value creation platform and to balance the multiple interests of stakeholders as a condition for the choice of strategic initiatives. Particular attention is given to the fact that when assessing stakeholder contribution within the framework of the integrated model, it is important to assess not only the contribution of owners as key financial stakeholders in the overall stakeholder value, but also the contribution of non-financial stakeholders, in particular, company employees.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 84.99
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 109.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 109.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

References

  • Abrosimova, E., & Sedelnikova, I. (2011). Системный анализ стейкхолдеров [System analysis of stakeholders]. Vestnik INZHEKONa: Economica, 3, 222–230.

    Google Scholar 

  • Apitz, S. E., Fitzpatrick, A. G., McNally, A., Harrison, D., Coughlin, C., & Edwards, D. A. (2017). Stakeholder value-linked sustainability assessment: Evaluating remedial alternatives for the Portland harbor superfund site, Portland, Oregon, USA. Integrated Environmental Assessment and Management, 14(1), 43–62. Retrieved September 01, 2018, from https://www.researchgate.net/publication/320675085_Translation_of_trustworthiness_signals_into_factors_for_stakeholder_value_cocreation

    Article  Google Scholar 

  • Carlon, D. M., & Downs, A. (2014). Stakeholder valuing: A process for identifying the interrelationships between firm and stakeholder attributes. Administrative Science, 4, 137–154. Retrieved September 01, 2018, from https://www.mdpi.com/2076-3387/4/2/137, https://doi.org/10.3390/admsci4020137

    Article  Google Scholar 

  • Castro-Martinez, M. P., & Jackson, P. R. (2018). Translation of trustworthiness signals into factors for stakeholder value cocreation. Journal of Public Affairs, 18(3), e1685. https://doi.org/10.1002/pa.1685

    Article  Google Scholar 

  • Dolmatova, I. (2013). Корпоративное управление на основе стейкхолдерского подхода: опыт непубличных компаний [Corporate governance based on the stakeholder approach: Experience of nonpublic companies]. Management Sciences, 2, 18–26.

    Google Scholar 

  • Efimova, O. (2013). Анализ устойчивого развития компании: стейкхолдерский подход. [Analysis of sustainable development of the company: Stakeholder approach]. Management Issues, 45(348), 41–51.

    Google Scholar 

  • Eskerod, P., & Ang, K. (2017). Stakeholder value constructs in megaprojects: A long-term assessment case study. Project Management Journal, 48(6), 60–75.

    Article  Google Scholar 

  • Fernández-Guadaño, J., & Sarria-Pedroza, J. H. (2018). Impact of corporate social responsibility on value creation from a stakeholder perspective. Sustainability, MDPI, Open Access Journal, 10(6), 1–10. Retrieved September 01, 2018, from https://www.mdpi.com/2071-1050/10/6/2062/htm, https://doi.org/10.3390/su10062062

    Google Scholar 

  • Figge, F., & Schaltegger, S. (2000). What is stakeholder value? Developing a catchphrase into benchmarking tool. Lüneburg: Luneburg Universitat.

    Google Scholar 

  • Fisher, N. I. (2018). Stakeholder value as an organizing principle for strategic planning. Journal of Creating Value, 4(1), 168–177. Retrieved August 10, 2018, from http://journals.sagepub.com/doi/abs/10.1177/2394964318771251

    Article  Google Scholar 

  • Fontaine, C., Haarman, A., & Schmid, S. (2006). The stakeholder theory. Edlays Education, 1, 1–33. Retrieved October 01, 2018, from https://pdfs.semanticscholar.org/606a/828294dafd62aeda92a77bd7e5d0a39af56f.pdf

    Google Scholar 

  • Frooman, J. (1999). Stakeholder influence strategies. Academy of Management Review, 24(2), 191–205.

    Article  Google Scholar 

  • Glib, T. (2006). Some powerful systems engineering heuristic. SE Heuristics.

    Google Scholar 

  • Ivashkovskaya, I. (2008). Стратегический мониторинг создания стоимости для всех стейкхолдеров компании [Strategic monitoring of value creation for all stakeholders of the company]. Finance: Theory and Practice, 3, 69–85.

    Google Scholar 

  • Ivashkovskaya, I. (2009). Моделирование стоимости компании. Стратегическая ответственность советов директоров. [Modeling of the company’s value. Strategic responsibility of boards of directors]. Moscow: INFRA-M.

    Google Scholar 

  • Ivashkovskaya, I. (2012). Стейкхолдерский подход к управлению, ориентированному на приращение стоимости компании. [Stakeholder approach to value based management]. Corporate Finance, 1(21), 14–23.

    Google Scholar 

  • Ivashkovskaya, I. (2016). Финансовые измерения корпоративных стратегий. Стейкхолдерский подход. [Financial measurements of corporate strategies. The stakeholder approach]. Moscow: INFRA-M.

    Google Scholar 

  • Kharin, A. G., & Gareev, T. R. (2014). Стейкхолдерский подход в управлении организациями: перспективы применения теоретико-игровых моделей. [Stakeholder approach in the management of organizations: prospects for the use of game-theoretic models]. Terra Economicus, 12(4), 105–113.

    Google Scholar 

  • Krasteva, N. (2017). Co-creation – The value based marketing. Sofia. Retrieved August 21, 2018, from https://clck.ru/EWzM6

  • Lankoski, L., Smith, N., & Van Wassenhove, L. (2016). Stakeholder judgments of value. Business Ethics Quarterly, 26(2), 227–256. https://doi.org/10.1017/beq.2016.28

    Article  Google Scholar 

  • Mikhailov, А. (2017, December 07). За чей счет банкет? Банковский сектор России в 2017 году: итоги. [At whose expense is the banquet? The banking sector in Russia to 2017: Results], Profile. Retrieved May 23, 2018, from http://www.profile.ru/economics/item/122546-za-chej-schet-banket

  • Neto, L. S., Lessa, F., Nardi, E. P., & Ferraz, M. B. (2018). Stakeholder value judgments in decision-making on the incorporation, financing, and allocation of new health technologies in limited-resource settings: A potential Brazilian approach. Revista Panamericana de Salud Pública, 42, 1–10. Retrieved September 01, 2018, from https://www.scielosp.org/article/rpsp/2018.v42/e102/en/

    Google Scholar 

  • Novozhilova, Y. (2017). Информационно-аналитическое обеспечение интегрированной отчетности: оценка влияния стейкхолдеров на изменение создаваемой стоимости. [Information and analytical support of integrated reporting: Evaluation of the stakeholders influence on the change of the created value]. Economic Statistics, 14(1), 43–50.

    Article  Google Scholar 

  • Petrov, M. (2004). Теория заинтересованных сторон: пути практического применения. [Stakeholder theory: Ways of application]. Vestnik of St Petersburg State University, 8/2(16), 51–68.

    Google Scholar 

  • Ramírez, C., & Tarziján, J. (2018). Stakeholder value appropriation: The case of labor in the worldwide mining industry. Strategic Management Journal, 39(5), 1496–1525. Retrieved July 01, 2018, from https://www.researchgate.net/publication/322522232_Stakeholder_value_appropriation_The_case_of_labor_in_the_worldwide_mining_industry

    Article  Google Scholar 

  • Rowley, T. J. (1997). Moving beyond dyadic ties: A network theory of stakeholder influences. Academy of Management Review, 22(4), 887–910.

    Article  Google Scholar 

  • Samokhina, V. (2014). Выявление, отбор и анализ факторов создания стейкхолдерской стоимости фирмы. [Identification, selection and analysis of the factors of creation of stakeholder value of the firm]. Scientific Notes of Young Researchers, 3, 31–33.

    Google Scholar 

  • Susniene, D., & Valackiene, A. (2012). Synergy of stakeholder relationships in aspirations for sustainability and social responsibility of corporate management. Conference: Innovation vision 2020: Sustainable growth, entrepreneurship, and economic development. Retrieved October 10, 2018, from https://www.researchgate.net/publication/261595743_Synergy_of_Stakeholder_Relationships_in_Aspirations_for_Sustainability_and_Social_Responsibility_of_Corporate_Management

  • Tantalo, C., & Priem, R. L. (2014). Value creation through stakeholder synergy. Strategic Management Journal, 37(2), 314–329. Retrieved September 01, 2018, from https://www.researchgate.net/publication/265690092_Value_Creation_Through_Stakeholder_Synergy, https://doi.org/10.1002/smj.2337

    Article  Google Scholar 

  • Tkachenko, I., & Zlygostev, A. (2018). Оценка вклада стейкхолдеров в стоимость компании: пример российского банковского сектора. [Assessing stakeholders’ contribution to enterprise value: The case of the russian banking sector]. Upravlenets, 9(4), 40–52. https://doi.org/10.29141/2218-5003-2018-9-4-5

    Article  Google Scholar 

  • Vashakmadze, T., Martirosyan, E., & Sergeeva, A. (2013). Модель управления стейкхолдерами в сделках слияний и поглощений. [Stakeholder based framework for M&A management]. Journal of Corporate Finance Research, 2(26), 87–97.

    Google Scholar 

Download references

Acknowledgments

The reported study was funded by RFBR and Sverdlovsk oblast, Project no 20-410-660032 р_а

Author information

Authors and Affiliations

  1. Ural State University of Economics, Yekaterinburg, Russia

    Irina Tkachenko & Irina Pervukhina

Authors
  1. Irina Tkachenko
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. Irina Pervukhina
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Irina Tkachenko .

Editor information

Editors and Affiliations

  1. Warsaw School of Economics, Warsaw, Poland

    Maria Aluchna

  2. Guildhall Faculty of Business and Law, London Metropolitan University, London, UK

    Samuel O. Idowu

  3. Corporate Economics and Business Governance, Ural State University of Economics, Ekaterinburg, Russia

    Irina Tkachenko

Rights and permissions

Reprints and permissions

Copyright information

© 2020 Springer Nature Switzerland AG

About this chapter

Check for updates. Verify currency and authenticity via CrossMark

Cite this chapter

Tkachenko, I., Pervukhina, I. (2020). Stakeholder Value Assessment: Attaining Company-Stakeholder Relationship Synergy. In: Aluchna, M., Idowu, S.O., Tkachenko, I. (eds) Corporate Governance in Central Europe and Russia. CSR, Sustainability, Ethics & Governance. Springer, Cham. https://doi.org/10.1007/978-3-030-39504-9_6

Download citation

Publish with us

Policies and ethics

Search

Navigation