David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
Business Ethics Quarterly 21 (4):679-691 (2011)
Must CEOs Be Saints? Contra Moriarty on CEO Abstemiousness by Robert KolbIn this journal, Jeffrey Moriarty argued that CEOs must refuse to accept compensation above the minimum compensation that will induce them to accept and perform their jobs. Acting otherwise, he maintains, violates the CEO’s fiduciary duty, even for a CEO new to the firm. I argue that Moriarty’s conclusion rests on a failure to adequately distinguish when a person acts as a fiduciary from when she acts on her own account as a person. Further, Moriarty’s argument assumes that the CEO knows this minimum level of compensation. However, we learn the suitability of compensation only through the market process of wage negotiation, not through some process of introspection. I conclude that a CEO who abstains from interfering with the board of directors and its compensation committee is morally free to negotiate for the highest wage available.
|Keywords||No keywords specified (fix it)|
|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
No references found.
Citations of this work BETA
Bahram Soltani (2014). The Anatomy of Corporate Fraud: A Comparative Analysis of High Profile American and European Corporate Scandals. Journal of Business Ethics 120 (2):251-274.
Similar books and articles
Jeffrey Moriarty (2009). How Much Compensation Can CEOs Permissibly Accept? Business Ethics Quarterly 19 (2):235-250.
Mel Perel (2003). An Ethical Perspective on CEO Compensation. Journal of Business Ethics 48 (4):381-391.
Donald Nichols & Chandra Subramaniam (2001). Executive Compensation: Excessive or Equitable? [REVIEW] Journal of Business Ethics 29 (4):339 - 351.
Ye Cai, Hoje Jo & Carrie Pan (2011). Vice or Virtue? The Impact of Corporate Social Responsibility on Executive Compensation. Journal of Business Ethics 104 (2):159-173.
Ella Mae Matsumura & Jae Yong Shin (2005). Corporate Governance Reform and CEO Compensation: Intended and Unintended Consequences. [REVIEW] Journal of Business Ethics 62 (2):101 - 113.
Bruce Walters, Tim Hardin & James Schick (1995). Top Executive Compensation: Equity or Excess? Implications for Regaining American Competitiveness. [REVIEW] Journal of Business Ethics 14 (3):227 - 234.
Obeua S. Persons (2006). The Effects of Fraud and Lawsuit Revelation on U.S. Executive Turnover and Compensation. Journal of Business Ethics 64 (4):405 - 419.
Julian Friedland (2010). A Fair Wage? Capping Executive Compensation. Journal of Business Ethics Education 7:129-139.
Jeffrey Moriarty (2011). Does Distributive Justice Pay? Sternberg's Compensation Ethics. International Journal of Applied Philosophy 25 (1):33-48.
James A. Brander (2006). The Effect of Ethical Fund Portfolio Inclusion on Executive Compensation. Journal of Business Ethics 69 (4):317 - 329.
Linda L. Carr & Moosa Valinezhad (1994). The Role of Ethics in Executive Compensation: Toward a Contractarian Interpretation of the Neoclassical Theory of Managerial Renumeration. [REVIEW] Journal of Business Ethics 13 (2):81 - 93.
John R. Boatright (2009). From Hired Hands to Co-Owners. Business Ethics Quarterly 19 (4):471-496.
Jeffrey Moriarty (2005). Do CEOs Get Paid Too Much? Business Ethics Quarterly 15 (2):257-281.
Sydney Finkelstein (2009). Why is Industry Related to CEO Compensation?: A Managerial Discretion Explanation. Open Ethics Journal 3 (2):42-56.
Jared D. Harris (2009). What's Wrong with Executive Compensation? Journal of Business Ethics 85 (1):147 - 156.
Added to index2011-12-01
Total downloads8 ( #267,348 of 1,725,598 )
Recent downloads (6 months)2 ( #268,736 of 1,725,598 )
How can I increase my downloads?