Stakeholder theory and shareholder theory application in construction field: systematic scoping review
Article Sidebar
Main Article Content
Abstract
Stakeholder theory and shareholder theory are essential frameworks for understanding construction projects, influencing sustainability, project success, and decision-making. Although some studies have explored these theories, there is a notable gap in retrospectively analyzing their application within the construction context. Therefore, this study seeks to systematically review stakeholder and shareholder theories to determine which theoretical approach is predominantly used in construction studies, assess the thematic areas where stakeholder theory or shareholder theory is applied in construction studies, and identify future research and gaps in the application of these theories in construction studies. The study adopted Arkesy and O'Malley's five-stage framework to conduct a systematic scoping review of 1726 articles from Scopus and Google Scholar databases, focusing on stakeholder theory or shareholder theory. The selection process followed the PRISMA framework, with 31 articles meeting the inclusion criteria. The data was analyzed using content analysis. The study showed an increased focus on stakeholder theory as compared to shareholder theory. There were 10 themes identified under stakeholder theory with ‘stakeholder management’ being the predominant theme. Shareholder theory, on the other hand, had only 2 themes, with ‘shareholder value creation’ being the predominant theme. The few themes identified under shareholder theory were as a result of the scarcity of research in this area. This calls for more research in the application of shareholder theory. Remarkably, there is a notable lack of research that integrates these two theories. This highlights the opportunity for the integration of these theories to address complex challenges in the construction industry.
Article Details
Section
Authors who publish with this journal agree to the following terms:
a) Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share and adapt the work with an acknowledgement of the work's authorship and initial publication in this journal.
b) Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
c) Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Open Access Citation Advantage Service). Where authors include such a work in an institutional repository or on their website (ie. a copy of a work which has been published in a UTS ePRESS journal, or a pre-print or post-print version of that work), we request that they include a statement that acknowledges the UTS ePRESS publication including the name of the journal, the volume number and a web-link to the journal item.
d) Authors should be aware that the Creative Commons Attribution (CC-BY) License permits readers to share (copy and redistribute the work in any medium or format) and adapt (remix, transform, and build upon the work) for any purpose, even commercially, provided they also give appropriate credit to the work, provide a link to the license, and indicate if changes were made. They may do these things in any reasonable manner, but not in any way that suggests you or your publisher endorses their use.