This paper addresses the possibilities to introduce the stakeholder model in the firm, especially the possibility to give property or decision rights to stakeholders. This paper argues that it is not practical to give full property rights to more than one group of stakeholders. Decision rights to employees and creditors are already in place in some countries, but the possibility to introduce them more generally to other stakeholder groups depends very much on the governance and ownership structure of the firm and the legal environment. The future of the stakeholder model in a globalised economy is also analysed.

Purpose -The aim of this paper is to analyze how deregulation affects different stakeholder groups, such as customers, employees, suppliers, creditors, the community and the environment. A distinction has been made between industries with and without network structures.Design/methodology/approach -The approach is based on literature review in order to formulate propositions.Findings -Deregulation has not always benefited the stakeholder groups analyzed. Consumers and employees have been able to profited from new entries, but the effect on prices and wages, respectively, is not always conclusive. Suppliers can increase their negotiating power, but on the other hand, creditors might find it difficult to get loans repaid. Deregulation in itself does not affect the environment, nor the ethical behavior of the firm.Originality/value -This study provides an insight on how deregulation affects different stakeholder groups. The regulator can benefit from the findings in order to improve the methods of deregulation. Particularly, deregulation of industries with network structures, such as electricity, natural gas, telecommunications give rise to some specific problems pointed out in the study, which the regulator ought to take into account. Consequences in other industries are also mentioned, which can help the regulator avoid errors made in the past.

Agency costs, Deregulation, Legal system, Property rights, L13, L43, L59,