What name is given to the theory which views the firm as a network of contracts which specify the roles played by various participants and their returns, with shareholders entitled to any surplus after other participants have received their contractual return?

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This is a description of the contractual theory of the firm, which holds that the relationships between different parties within a firm can be understood as a set of contracts that specify their roles and returns. According to this theory, the firm exists to coordinate these contractual relationships and generate a surplus, which is then distributed to shareholders as residual claimants. Stakeholder theory, on the other hand, argues that firms should consider the interests of all stakeholders, not just shareholders. Network theory and participant-role theory do not specifically focus on the contractual relationships within a firm.

What Name Is Given to the Theory Which Views the Firm