David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
Journal of Business Ethics 117 (3):583-599 (2013)
This article draws on the moral philosophy of Immanuel Kant to explore whether a corporate ‘duty of beneficence’ to non-shareholders is consistent with the orthodox ‘shareholder theory’ of the firm. It examines the ethical framework of Milton Friedman’s argument and asks whether it necessarily rules out the well-being of non-shareholders as a corporate objective. The article examines Kant’s distinction between ‘duties of right’ and ‘duties of virtue’ (the latter including the duty of beneficence) and investigates their consistency with the shareholder theory. The article concludes that it is possible within the ethical framework of shareholder theory for managers to pursue directly the happiness of non-shareholders. Furthermore, shareholders have a duty to hold management to account for the moral consequences of the firm’s activities on non-shareholding stakeholders
|Keywords||Deontology Duty of beneficence Friedman Kant Imperfect duties Property rights Shareholder theory Stakeholder theory Shareholder activism|
|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
George D. Chryssides (1993). An Introduction to Business Ethics. Chapman & Hall.
Thomas Donaldson & Thomas W. Dunfee (1995). Integrative Social Contracts Theory. Economics and Philosophy 11 (01):85-.
R. Edward Freeman (1994). The Politics of Stakeholder Theory. Business Ethics Quarterly 4 (4):409-421.
Kenneth E. Goodpaster (1991). Business Ethics and Stakeholder Analysis. Business Ethics Quarterly 1 (1):53-73.
M. C. Jensen (2008). Non-Rational Behaviour, Value Conflicts, Stakeholder Theory, and Firm Behaviour. Business Ethics Quarterly 18 (2):167-171.
Citations of this work BETA
No citations found.
Similar books and articles
Melissa Seymour Fahmy (2010). Kantian Practical Love. Pacific Philosophical Quarterly 91 (3):313-331.
Karen Stohr (2011). Kantian Beneficence and the Problem of Obligatory Aid. Journal of Moral Philosophy 8 (1):45-67.
John E. Atwell (1995). Fallacies in Two Objections to Kant's First Defense of the Duty of Beneficence in the Grundlegung. Argumentation 9 (4):633-643.
John Hardwig (1983). Action From Duty but Not in Accord with Duty. Ethics 93 (2):283-290.
Alex Voorhoeve (2006). Is Poverty Our Problem? Introduction to the Forum on World Poverty and the Duty of Assistance. The Philosophers' Magazine 36:46-49.
Pauline Kleingeld (2003). Kant’s Cosmopolitan Patriotism. Kant-Studien 94 (3):299-316.
Peter Atterton (2007). A Duty to Be Charitable? A Rigoristic Reading of Kant. Kant-Studien 98 (2):135-155.
Lara Denis (1999). Kant on the Perfection of Others. Southern Journal of Philosophy 37 (1):25-41.
Katrin Flikschuh (2007). Duty, Nature, Right: Kant's Response to Mendelssohn in Theory and Practice III. Journal of Moral Philosophy 4 (2):223-241.
Jens Timmermann (2006). Kant on Conscience, “Indirect” Duty, and Moral Error. International Philosophical Quarterly 46 (3):293-308.
Donald H. Schepers (2007). A Network Analysis of Shareholder Activism. Proceedings of the International Association for Business and Society 18:351-356.
Christine M. Korsgaard (1996). From Duty and for the Sake of the Noble: Kant and Aristotle on Morally Good Action. In Stephen Engstrom & Jennifer Whiting (eds.), Aristotle, Kant, and the Stoics: Rethinking Happiness and Duty. Cambridge University Press.
J. Charles King (1968). Bradley's “Duty for Duty's Sake” and Kant's Ethics. Kant-Studien 59 (1-4):309-317.
Kate A. Moran (forthcoming). For Community's Sake: A (Self-Respecting) Kantian Account of Forgiveness. Proceedings of the XI International Kant-Kongress.
Keya Maitra (2006). Comparing the Bhagavad-Gita and Kant. Philosophy in the Contemporary World 13 (1):63-67.
Added to index2012-11-15
Total downloads5 ( #265,240 of 1,692,616 )
Recent downloads (6 months)3 ( #75,733 of 1,692,616 )
How can I increase my downloads?