Advances in Management and Applied Economics

Stakeholder Theory Based on Information Field Model

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  • Abstract

    Stakeholder theory believes that the development of enterprises need to pay attention to the participation of stakeholders, and emphasize the influence of the differentiation ability of enterprise participants on the core competitiveness of enterprises. This theory has been fully affirmed in the practice of enterprise management, but there is not enough economic theoretical support. Stakeholder theory focuses on the social relations of all participants in the enterprise. The western economic analysis method highlights the natural attributes of human beings, and weaken the social attributes of human beings. The information field model integrates the individual rationality and sociality into the same behavior decision model. Using the information field model and the market transaction mechanism as the reference, comparative analysis of the operation mechanism of Shareholder primacy theory and stakeholder theory. The purpose of stakeholder theory and the sources of the rights needed to achieve this goal are explained. Thus, the stakeholder theory provides a feasible economic explanation.

    JEL classification numbers: M10
    Keywords: Stakeholder theory; Information economic man; Information field model; Capital vector