David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
Journal of Business Ethics 21 (2-3):97 - 109 (1999)
This paper puts forward an argument for stakeholder rights. It begins by exploring two major answers to the question, 'in whose interests should the commercial company function?'. One claims parity for other stakeholders alongside the shareholder on the basis of a theory of property rights, and another on a theory of citizenship. Each of these answers, it is argued, fail to convince. The way forward is to recast the initial question, not asking in whose interest the company should function, but which type of interest, potentially located in any sort of person, might the company serve. That interest is identified and distinguished from others that people affected by corporations might have. These distinctions then provide the basis for an argument in favour of enfranchising two sorts of individual: sovereign stakeholders, in charge of monitoring the formulation and revision of company objectives; and secondary stakeholders, who along with those in the first category monitor the means used to achieve those objectives.The paper concludes that these distinctions should lead us to reconsider other elements in the corporate governance debate, such as the nature of a director's fiduciary duty; and the difference between democracy in corporations and democracy in the wider society.
|Keywords||Philosophy Ethics Business Education Economic Growth Management|
|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
Frank J. De Graaf & Cor A. J. Herkströter (2007). How Corporate Social Performance Is Institutionalised Within the Governance Structure. Journal of Business Ethics 74 (2):177 - 189.
Similar books and articles
Joseph M. Steiner (1982). Putting Fault Back Into Products Liability: A Modest Reconstruction of Tort Theory. [REVIEW] Law and Philosophy 1 (3):419 - 449.
Peter Lewin (2007). Creativity or Coercion: Alternative Perspectives on Rights to Intellectual Property. [REVIEW] Journal of Business Ethics 71 (4):441 - 455.
Alessandro Zattoni (2011). Who Should Control a Corporation? Toward a Contingency Stakeholder Model for Allocating Ownership Rights. Journal of Business Ethics 103 (2):255-274.
Barry Smith & Leo Zaibert (2001). The Metaphysics of Real Estate. Topoi 20 (2):161-172.
J. M. Elegido (1995). Intrinsic Limitations of Property Rights. Journal of Business Ethics 14 (5):411 - 416.
Andrew Crane, Dirk Matten & Jeremy Moon (2004). Stakeholders as Citizens? Rethinking Rights, Participation, and Democracy. Journal of Business Ethics 53 (1-2):107-122.
E. Jansson (2005). The Stakeholder Model: The Influence of the Ownership and Governance Structures. [REVIEW] Journal of Business Ethics 56 (1):1 - 13.
John J. McCall (2001). Employee Voice in Corporate Governance. Business Ethics Quarterly 11 (1):195-213.
Larry May (1986). Corporate Property Rights. Journal of Business Ethics 5 (3):225 - 232.
Christopher Low & Christopher Cowton (2004). Beyond Stakeholder Engagement: The Challenges of Stakeholder Participation in Corporate Governance. International Journal of Business Governance and Ethics 1 (1):45-55.
Added to index2009-01-28
Total downloads20 ( #130,548 of 1,699,833 )
Recent downloads (6 months)4 ( #161,079 of 1,699,833 )
How can I increase my downloads?