Beyond Participation: A Multitheoretical Framework for Stakeholder Relationship Management in Circular Economy Initiatives

Circular economy (CE) initiatives require coordination among stakeholders whose roles, resources, and interests are often unevenly distributed across value networks. Existing CSR, ESG, and stakeholder engagement frameworks offer useful starting points, but they do not fully explain how these relationships are governed during circular transitions. This paper develops a multitheoretical framework for stakeholder relationship management in CE initiatives. It draws on a systematic literature review and a qualitative content analysis supported by NVivo. Stakeholder Theory, Shared Value Theory, the Resource Based View/Relational View and Transition Management Theory are used to interpret recurrent themes in the literature and to organize them into four analytical dimensions: Value, Management, Resources and Processes. The framework then uses Newcombe's power‐interest matrix and the AA1000 standard to connect these dimensions with differentiated engagement strategies and accountability practices. The paper argues that CE stakeholder management should be treated not as a generic participation exercise, but as a governance problem involving stakeholder salience, value creation, resource mobilization, and transition processes. The proposed framework offers scholars a way to connect currently dispersed strands of CE and stakeholder research and provides practitioners and policymakers with a structured basis for addressing stakeholder interdependencies, power asymmetries, and accountability requirements in CE governance.