David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Ezio Di Nucci
Jack Alan Reynolds
Learn more about PhilPapers
Journal of Business Ethics 98 (2):273 - 279 (2011)
Libertarianism and the shareholder model of corporate responsibility have long been thought of as natural bedfellows. In a recent contribution to the Journal of Business Ethics, Brian Schaefer goes so far as to suggest that a proponent of shareholder theory cannot coherendy and consistently embrace any moral position other than philosophical libertarianism. The view that managers have a fiduciary obligation to advance the interests of shareholders exclusively is depicted as fundamentally incompatible with the acknowledgement of natural positive duties – duties to aid others that have not been acquired by some prior commitment or transaction. I argue that Schaefer is mistaken. Positive duties are incompatible with the shareholder model only if we must contribute to their fulfilment in the corporate context; only if we have some reason to think that it is not possible or not permissible to discharge these obligations entirely in our private lives or through our various other roles and capacities. But we have no good reason to accept this. I argue that individuals are presumptively free to decide how and when to discharge their positive duties, and that buying shares does not cause this presumption to lapse. Hence a non-libertarian moral theory can be held without incoherence by a proponent of the shareholder model
|Keywords||aid corporate social responsibility libertarianism positive duties shareholder theory|
|Categories||categorize this paper)|
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
|Through your library|
References found in this work BETA
Jonathan Dancy (1993). Moral Reasons. Blackwell.
Thomas Pogge (2005). World Poverty and Human Rights. Ethics and International Affairs 19 (1):1–7.
Samuel Scheffler (1994). The Rejection of Consequentialism: A Philosophical Investigation of the Considerations Underlying Rival Moral Conceptions. Oxford University Press.
James Rachels (1986). The End of Life: Euthanasia and Morality. Oxford University Press.
Brian P. Schaefer (2008). Shareholders and Social Responsibility. Journal of Business Ethics 81 (2):297 - 312.
Citations of this work BETA
No citations found.
Similar books and articles
John R. Boatright (1994). Fiduciary Duties and the Shareholder-Management Relation. Business Ethics Quarterly 4 (4):393-407.
Jeanne M. Logsdon, Harry van Buren Iii & Kathleen Rehbein (2008). Social Responsibility Ratings and Corporate Responses to Activist Shareholder Resolutions. Proceedings of the International Association for Business and Society 19:307-317.
Olufemi Amao & Kenneth Amaeshi (2008). Galvanising Shareholder Activism: A Prerequisite for Effective Corporate Governance and Accountability in Nigeria. [REVIEW] Journal of Business Ethics 82 (1):119 - 130.
Richard Lee Miller (1988). Ethical Challenges in Corporate-Shareholder and Investor Relations: Using the Value Exchange Model to Analyze and Respond. [REVIEW] Journal of Business Ethics 7 (1-2):117 - 132.
Emmanuel Adegbite, Kenneth Amaeshi & Olufemi Amao (2012). The Politics of Shareholder Activism in Nigeria. Journal of Business Ethics 105 (3):389-402.
Kathleen Rehbein, Jeanne M. Logsdon & Harry J. Buren (2013). Corporate Responses to Shareholder Activists: Considering the Dialogue Alternative. [REVIEW] Journal of Business Ethics 112 (1):137-154.
Peter Koslowski (2000). The Limits of Shareholder Value. Journal of Business Ethics 27 (1-2):137 - 148.
Pablo Gilabert (2006). Basic Positive Duties of Justice and Narveson's Libertarian Challenge. Southern Journal of Philosophy 44 (2):193-216.
Alexei M. Marcoux (2003). A Fiduciary Argument Against Stakeholder Theory. Business Ethics Quarterly 13 (1):1-24.
Added to index2010-07-28
Total downloads19 ( #185,201 of 1,789,998 )
Recent downloads (6 months)1 ( #424,764 of 1,789,998 )
How can I increase my downloads?