Study goals
This paper aims to investigate how firms create, distribute and capture value with stakeholders Our thesis is that the firm needs to manage a stakeholder value system, composed of value creation,distribution and capture, to achieve sustainable performance.
Relevance / originality
In-depth interviews with primary stakeholders (shareholders, customers, employees, communities, and suppliers) of seven different firms are the key source of information of our study. It brings a multiple stakeholders' sperception on value creation system.
Methodology / approach
We designed the research as a theory-building on multiple case studies with companies from different sectors (Pets, Mineral Mining, Chemical, and Paper industry)We did 24 interviews with stakeholders of 7 different companies from June 2020 to July 2022.
Main results
Our findings show that the stakeholder value system is composed of value creation, distribution, and capture These three processes do not happen in a sequential and linear timing Value capture happens in the short, medium, and long term It may happen before
Theoretical / methodological contributions
We contribute to the updated investigation on Stakeholder theory addressing its managerial perspective raising light on questions on residual value distribution and how the firm creates, distributes, and captures value beyond economic goals
Social / management contributions
As per the managerial contribution, we understand that our investigation contributes to the 2019 Business Roundtable stakeholder purpose statement helping organizations how to implement a stakeholder orientation strategy In the social realm, this research contributes to the implementation of Sustainable Global Development