| Title | Stakeholder Theory, Intellectual Capital and Risk Sharing :Proposed Framework |
|---|---|
| ID_Doc | 76611 |
| Authors | Sarea, A; Elshaker, AH; Shaikh, ZH; Imeri, A; Hidayat, S; Al-Sartawi, AM |
| Title | Stakeholder Theory, Intellectual Capital and Risk Sharing :Proposed Framework |
| Year | 2019 |
| Published | |
| Abstract | The paper proposes a framework to explore the relationship between stakeholder theory, intellectual capital and risk sharing. The paper employs content analysis approaches to explore the relationship between stakeholder theory, intellectual capital and risk sharing. Stakeholder theory is more suitable if it is used to explain the Islamic concepts of employer employee relationships in line with the teachings of the "Quran and Hadith" and the practices of Islamic system. Islamic system treats the stakeholders as equity shareholders. Stakeholders not only share profits from their contributions. They prioritize the use of Islamic values as the basis of all their business activities. The stakeholder theory model isn't really a strategic framework - it won't facilitate to innovate or develop business directly. To understand the true benefits of stakeholder theory, we have to look at a more societal /ethical level. This includes "Intellectual capital" which offers a prospective source of sustainable competitive advantage and is assumed to be the basis of economic growth and the "Risk sharing" practice of Islamic system where each participant must share the profit and the risk of loss from a transaction, makes it more stable and equitable. The main finding, the proposed model is designed based on the literature review to conceptualize the relationship between stakeholder theory, intellectual capital and risk sharing. The contribution of this paper is to add value to the literature of intellectual capital and risk sharing. |
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