Ron Mitchell, professor of Entrepreneurship and Jean Austin Bagley Regents Chair in Management, recently presented a paper at the 2016 Zurich Extension: Tensions in Stakeholder Research Conference in Zurich, Switzerland. Mitchell's paper combined concepts from exchange creation and organizational economic theories to suggest a reliable means to identify strategic factor stakeholders: providers of resources requisite to the generation of economic profit by a firm, the value of which is uncertain ex ante, who due to the resulting incomplete contract, may claim ex post rights to the residual of that firm. Based upon the assumption that there is inherent value in human relationships, much of which does not turn into actual transactions due to the dampening effect of transaction costs; and accordingly, that the reduction of transaction costs (through strategizing--as agreement making) will enable the emergence of otherwise unrealized transactions/units of value (through economizing--as resource modification); I use a model of economic exchange to demonstrate how to identify reliably, the resource providers entitled to claim ex post rights to the firm residual.
Mitchell was part of ten scholarly panelists who met to identify and discuss a list of 12 "tensions" identified in stakeholder research literature with the purpose of advancing thinking on these topics. A second, and equally important, purpose of the panel discussions included exploring ways to address these tensions in research, either through improving an existing research paper or developing a plan for tackling a tension in a new research project.
Ronald K. Mitchell is a professor of Entrepreneurship, and holds the Jean Austin Bagley Regents Chair in Management in the Rawls College of Business at Texas Tech University. He previously held the Francis G. Winspear Chair in Public Policy Business and was the Faculty of Business Board of Advisors Distinguished Educator at the University of Victoria BC, Canada. While there, he also held a joint appointment in the Department of Public Policy and Strategy at the Guanghua School of Management at Peking University (Beijing, PRC).
Ron earned his CPA in 1978 and his Ph.D. from the University of Utah in 1994, winning the Academy of Management's 1995 Heizer Award for his dissertation: "The composition, classification, and creation of new venture formation expertise." Ron publishes and serves in editorial review capacities in the top entrepreneurship and management journals, and was also the 2008-2009 Chair of the Entrepreneurship Division. He is co-author of the Ivey Casebook: Cases in Entrepreneurship, one of the first texts to apply entrepreneurial cognition research focused specifically on the development of students' "entrepreneurial minds." In 2011 he co-authored "In Search of Research Excellence: Exemplars in Entrepreneurship," a path-breaking book that gathers 'best practices' advice about how to achieve excellence in entrepreneurship research and how to create an outstanding research career. In 2014, he co-edited the "Handbook of Entrepreneurial Cognition," which has helped to chart the way forward in entrepreneurial cognition research. And in November of 2015, he was lead editor in the Special Issue on Accounting for Stakeholders, published by "The Journal of Management Studies." He researches, consults and lectures worldwide.
Other members of the distinguished panel included:
Jay Barney - Presidential Professor of Strategic Management and Pierre Lassonde Chair of Social Entrepreneurship, University of Utah
Sinziana Dorobantu - Assistant Professor of Management and Organizations, New York University
Jeffrey Harrison - W. David Robbins Chair of Strategic Management, University of Richmond
Robert Hoskisson - George R. Brown Chair of Strategic Management, Rice University
Donald Lange - Associate Professor of Management and Lincoln Professor of Management Ethics, Arizona State University
Robert Phillips - Professor of Management and Philosophy, Politics, Economics and Law (PPEL)
Sybille Sachs - Professor for Business Administration and Head of the Institute for Strategic Management: Stakeholder View, Zurich University of Applied Sciences
Andreas G. Scherer - Chair of Foundations of Business Administration and Theories of the Firm, University of Zurich
Maurizio Zollo - Dean's Chaired Professor in Strategy and Sustainability, Bocconi UniversityThis supports the efforts outlined in the Rawls College of Business Strategic Plan. Learn more about the LEADER 2020 Strategic Plan and follow our progress on Twitter at #RawlsLeads.