Study On The Correlation Between Interects Satisfaction Of The Stakeholders And The Value Of Listed Household Electric Appliance Enterrpise

Household electric appliances industry has an important position in the national economy, and its level of development related to national living standards, related to the healthy development of China's industrialization. At the same time a large number of household appliances export could affect the development of China's foreign trade. This paper is to study the value of public listed household electric appliance enterprises from the perspective of stakeholders under the guidance of Stakeholder Theory, and further to discuss the possibility of improving value of enterprises through adjusting the level of different stakeholder's satisfaction.Presently, the stakeholder theory in the area of value of enterprise hasn't been systemized. The results are different due to selected variables, methods of research and different samples. Plus, the stakeholder theory was introduced to our country not long ago and hasn't been widely recognized. The Study at home has the issue of not enough samples and very short time span. Thus, the research under the stakeholder theory to further explore the value of enterprises has important significances both theoretically and practically.The article firstly reviews the relative literature and states the definition of stakeholder and its classification;brings up the different stakeholders have different interests and demands; analyze the history and achievements of the stakeholder theory and enterprise value research. Then, based on the theoretical analysis, the paper puts forward the hypothesis and the model. And then 23 A-share listed home appliances manufacturing enterprises forms the sample, the data from 1998 to 2008. The results show that the variables this paper selects to represent the level of diverse stakeholders satisfaction can build relationship with the enterprise value variables, and through the model test, the enterprise value could be measured by the levels of interest satisfaction of various stakeholders. Through analyzing the Coefficient of variable, it shows that enterprises can bring all stakeholders interest satisfaction which has different effect on enterprises. Since the input-output efficiency of different stakeholders is different, the level of satisfaction of various stakeholders has irrational behavior. There is way to enhance enterprise value. Finally, the implications are put forward based on the ground of summarizing and analyzing the empirical analysis.