Through the Looking Glass - Strategies in Achieving Stakeholder Performance
Date
2024
Authors
Salmon, Emily
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Abstract
This dissertation thoroughly explores stakeholder value capture through three interconnected studies, collectively advancing our understanding of how community stakeholders systematically capture diverse elements of value over time. By challenging fundamental economic assumptions within value-based strategy theory and incorporating a behavioural theory lens, I develop a theoretical model to offer conceptual clarity on the concept of value capture, disentangling potential from realized value capture. The subsequent empirical studies test and build upon these theoretical advancements, with a specific focus on Indigenous communities impacted by nearby mining projects. In this context, I investigate the impact of contractual stakeholder governance, specifically the negotiation and implementation of Community Benefit Agreements, on community stakeholder value capture outcomes. Contrary to conventional wisdom, the findings indicate that contractual forms of stakeholder governance, particularly CBAs, do not consistently lead to higher value capture outcomes. Furthermore, the research reveals that stakeholders concurrently experience both value capture and destruction across various dimensions, challenging existing theoretical explanations. Expanding on these insights, the research then uncovers the diverse value capture strategies associated with achieving higher levels of value capture, finding that communities can capture value across varying levels of bargaining power while the ease of capturing value varies according to the type of value. This holistic exploration enhances our understanding of the determinants of stakeholder value capture, supplementing established explanations centered on bargaining power with innovative theoretical developments related to complementary resources and institutional contexts. Collectively, these studies offer a nuanced and comprehensive perspective on stakeholder value capture processes, contributing to the evolving landscape of value capture theory and practice.
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Keywords
Indigenous wellbeing, value capture strategy, Indigenous quantitative methodology, stakeholder theory