| Abstract |
Stakeholder theory has called for more research on competing interests. This research contributes by investigating investor preferences that affect the competing positions of incumbents and sharing-economy firms. The sharing economy promises wider distribution of benefits across stakeholders, which may influence investor attractiveness. So this research asks when sharing-economy firms are competitive for investor support in comparison with incumbents. Value creation and value capture are employed to develop hypotheses predicting investor interests. Using data from a matched sample of 334 firms, we find evidence of conditional investor preference for non-sharing firms, and conclude implications for the sharing economy and sustainable development. |
