Who really matters in the end?: Gunns of Tasmania and the Green shareholder revol

Abstract

Stakeholder theory has obvious implications for governance research. Within stakeholder theory there has, however, been much argument about the complexity of 'stakeholder recognition' and 'strategic management', just as within governance theory there has been discussion of the significance of shareholders. In this paper we consider the issue of who really matters when a system of 'stakeholder recognition' and 'management' is tested within a controversial, yet important industry in a regional economy. This issue is investigated through the case of Gunns Ltd, the largest forestry company in the 'greenest' region of Australia.