David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
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Journal of Business Ethics 66 (2/3):169 - 175 (2006)
In this paper, we argue that calls for widespread implementation of ethics measurement systems would be better informed by institutional economic analysis. Specifically, we assert that proponents of such systems must first recognize and understand the institutions that potentially impede such efforts. We identify two potential institutional impediments to measuring ethics and social responsibility. First, we suggest that neoclassical economics, supported by traditional business education and legal precedent, serves to reinforce the notion that shareholders are the primary corporate constituency group. Such an emphasis on the needs of shareholders severely hinders implementation of measurement systems that address the needs of multiple stakeholder groups. Second, we argue that the threat of litigation may constrain corporate managers from measuring and considering ethics and corporate social responsibility matters. In particular, managers may be reluctant to quantify various ethical concerns if the resulting measurements could be used as evidence against the corporation in a lawsuit
|Keywords||corporate social responsibility ethics measurement systems institutional economics business judgment rule privilege of self-critical analysis|
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References found in this work BETA
O. Scott Stovall, John D. Neill & David Perkins (2004). Corporate Governance, Internal Decision Making, and the Invisible Hand. Journal of Business Ethics 51 (2):221-227.
Citations of this work BETA
Steven Scalet & Thomas F. Kelly (2010). Csr Rating Agencies: What is Their Global Impact? [REVIEW] Journal of Business Ethics 94 (1):69 - 88.
Curtis Clements, John D. Neill & O. Scott Stovall (2009). The Impact of Cultural Differences on the Convergence of International Accounting Codes of Ethics. Journal of Business Ethics 90 (3):383 - 391.
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