Claim-specific stakeholder-firm power

A claim-specific stakeholder-firm power framework is developed to address a key unresolved question in stakeholder theory. That is, should managers prioritize the stakeholders (i.e., who ) or the issues being raised (i.e., what )? Based on an interpretive review on stakeholder attribute studies and stakeholder issues studies, this work explains how stakeholder power varies across claims to bridge the divide between the two research streams. Two claim-specific dimensions that shape stakeholder-firm power dynamics are examined: stakeholder-firm power clarity , or the extent to which power relations are unambiguously defined in a specific issue, and stakeholder consensus , or the degree of alignment among stakeholders on the claim. These dimensions generate four distinct claim types— clear-cut , dark-cloud , muddy-water , and underlying-norm —each with different strategic implications for firms. We illustrate the framework using claims about TikTok and Kuaishou, the world’s leading short-video platforms. Our proposed framework fills a critical gap in stakeholder theory by conceptualizing power as contingent on the characteristics of specific claims and embedded within broader stakeholder interactions.