Value capture has frequently been addressed in the stakeholder management literature. For example, Clarkson (1995) points out that it is crucial for managers to distribute the economic value generated by the firm among primary stakeholders appropriately. Similarly, Asher, Mahoney and Mahoney (2005) emphasize that both value creation and value capture are important and managers need to take all relevant stakeholders into consideration
in their strategic decisions.In particular, the stakeholder perspective is a shift from organizational value to a broader society value (Lepak, Smith & Taylor 2007)