|Salle P303 | Université Paris-Dauphine|
"Heterogeneous Stakeholder Resources: Effects on Value Creation and Appropriation in the Context of Microcredit" - Co-authored with Leandro Nardi and Sergio Lazzarini
In this paper, we theorize and demonstrate that individual-level traits are important drivers of stakeholder value creation and appropriation. Focusing on beneficiaries—i.e., customers of a firm engaged in shared value creation— we propose a model in which the value a focal firm creates for these beneficiaries is a function of their own individual resource endowments. Departing from our model, we empirically demonstrate that, in the context of microcredit, beneficiaries’ ability to appropriate value from microloans are greater for more financially constrained individuals (vis-à-vis less constrained peers) and positively associated with the magnitude of their relational resource endowments. We also show that the extent of human capital endowments per se does not impact beneficiaries’ appropriation. However, human capital seems to improve appropriation for less financially constrained individuals.