From Corporate Governance to Stakeholder Valuation: Who Truly Drives Value?
摘要
This chapter reconceptualizes corporate governance as a quantitative and adaptive valuation framework. Rather than treating stakeholder behavior as an external constraint, it integrates incentives, negotiations, and interdependencies directly into financial modeling. Through game theory, network analysis, artificial intelligence, and Bayesian updating, governance becomes a living information system that quantifies credibility, coordination, and learning. This approach transforms governance from a compliance obligation into a measurable source of value creation—linking decision quality, stakeholder alignment, and transparency to market confidence, capital efficiency, and long-term enterprise stability.