Family Owned Business Institute

Research Scholar's Abstracts 2007 - James Chrisman, John Ring

Stakeholder Salience in the Family Firm
James J. Chrisman, John Kirk Ring
2007

The introduction of the family, along with its relatively different stakes, warrants further investigation. Therefore, the purpose of this study is to more fully explain the reciprocal influence of the family and the business in a family firm by incorporating developments in stakeholder theory with the sustainable family business model. The results of this research may also fill the gap left by agency theory and the resource based view by explaining how formulating organizational goals and strategies cause resources to be acquired and agency costs to be eliminated or amplified (Chrisman et al., 2005: 569). Mitchell, Agle, and Woods (1997) stakeholder salience theory will be employed as a means to these ends.