Purpose. The main objective of the paper is to determine the critical factors, which have an impact on the long-term value maximization for company’s shareholders. Methodology. Content analysis of the text segments related to the issues of shareholder value creation is performed. Information data basis consists of 100 abstracts of the published scientific papers from Scopus, EBSCO, Thomson Reuters Web of Knowledge and other databases. Publishing period covers 40 years (1972-2012). The relevant abstracts for the research purposes were selected based on the criterion of mentioning the notions of shareholder value creation, shareholder value maximization, shareholder value sustainability and similar word combinations. Information processing is performed by the means of text analysis software AQUAD 6.0 and Hamlet II. Both differentiation and generalization strategies were used when interpreting the data. Results. Frequency tables generated by AQUAD and cluster analysis provided by Hamlet assisted authors to elicit critical factors stimulating value creation process in companies. Authors’ performed analysis revealed that sustainable shareholder value is based on the long-term and stable income stream, and its creation primarily is stipulated by properly implemented corporate governance system, high CSR standards, rational capital budgeting politics and high financial results accountability. Practical implications (if applicable). Value drivers’ awareness allows reduction of risks associated with the value creation process and, as a consequence, maximizing return on the invested capital. Considering the factors affecting shareholder wealth it is possible to increase investment attractiveness of a company for existing and potential strategic and retail investors. The distilled factors are planned to be used as variables in a regression model for predicting shareholders’ return. Value/originality. The current research expands the horizon of understanding the concept of shareholder value in a sustainable perspective. While the traditional view of shareholder value usually contradicts with the ideas of stakeholder theory proponents, the proposed model combines the elements of both theories and the elements of the sustainable development concept.