Conclusions and suggestions for future research
This dissertation develops the interdisciplinary approach of the stakeholder rationale for risk management. It shows that the stakeholder rationale for risk management is grounded in instrumental stakeholder theory, neo-institutional economic theories of the firm, and traditional financial approaches to risk management. Moreover, it is strongly related to the resource-based view that explains how non-financial stakeholders of the firm might promote value generation and lead to superior firm performance. It is theoretically shown that incorporating non-financial stakeholders into the firm’s risk management strategy is in line with the predominant shareholder value perspective.
KeywordsCapital Structure Accounting Standard Sample Firm Corporate Finance Cash Holding
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