Stakeholder theory in finance. On the financial relevance of nonfinancial stakeholders

This dissertation contributes to the discussion on the role of nonfinancial stakeholders in finance. Given that an exhaustive analysis of this broad topic is well beyond the scope of a single thesis, my research instead aims to fill a number of important empirical gaps in the literature. I conduct four studies on the relevance of key nonfinancial stakeholders; namely employees, customers, and in one case stakeholders at large. These studies can be broadly grouped into three separate themes, which I briefly introduce in the following