This study is exploratory. Thus, the main purpose of this study is to propound and test four propositions as the basis for further research towards the construction of a comprehensive theory of stakeholders? participation in school-initiated activities. Though this study is done in a town in Bukidnon Province in the Philippines, this should be considered as an inherent limitation in this study. Therefore, these four propositions should be further expanded and tested relative to other school-context not only to schools here in Bukidnon but also in other areas in the Philippines and even in other parts of the globe. The study used the survey method, and in the selection of respondents, it applied purposive sampling. Simple Linear Regression Analysis and the t-test were used to test the propositions. The findings have shown that of the four propositions three were statistically significant and one was not. Further recommendations were made to further explore the findings of this study as an initial step in coming up with more propositions that could provide the premises in the construction of a comprehensive theory of stakeholders? participation in school initiated activities.