This study examines post-corporatization activities of public sector organizations, which are expected to act according to commercial principles, but, at times, are also asked to undertake projects that are not profitable: community service obligations (CSOs). Managers of government-owned corporatized entities in land development are interviewed, and a focus group at a state Treasury department conducted. We determine, when undertaking CSOs, who are the stakeholders, as perceived by management, and why they are considered important. The stakeholders are government, community, treasury (as separate from government) and the relevant private sector. Values, in addition to power, urgency and legitimacy, influence stakeholder prioritization.
