Getting Real

Business Ethics Quarterly 9 (2):273-293 (1999)
Abstract
Stakeholder theorists have generally misunderstood the nature and ramifications of the fiduciary responsibilities that corporate directors owe their stockholders. This fiduciary duty requires the exercise of care, loyalty, and honesty with regard to the financial interests of stockholders. Such obligations do not conflict with the normative goals of stakeholder theory, nor, after a century of case law that includes Dodge Bros. v. Ford, do fiduciary responsibilities owed shareholders prevent managerial policies that are generous orsensitive to other corporate stakeholders. The common law recognizes a multitude of legal relationships between various corporateconstituents, and fiduciary duties are only a subset of the obligations that arise from these relationships. This article argues that statuteand case law can bring comparable legal protection to constituents other than stockholders, and suggests ways that these protectionsmight be further strengthened. Implications for management education are also discussed
Keywords No keywords specified (fix it)
Categories (categorize this paper)
Options
 Save to my reading list
Follow the author(s)
My bibliography
Export citation
Find it on Scholar
Edit this record
Mark as duplicate
Revision history Request removal from index
 
Download options
PhilPapers Archive


Upload a copy of this paper     Check publisher's policy on self-archival     Papers currently archived: 10,561
External links
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

No citations found.

Similar books and articles
Ian Maitland (1994). The Morality of the Corporation. Business Ethics Quarterly 4 (4):445-458.
Laurent Leduc (2004). Corporate Governance with a Difference: Fiduciary Duty for a Wisdom Economy. International Journal of Business Governance and Ethics 1 (s 2-3):147-161.
Joseph Heath (2006). Business Ethics Without Stakeholders. Business Ethics Quarterly 16 (4):533-558.
Analytics

Monthly downloads

Sorry, there are not enough data points to plot this chart.

Added to index

2011-01-09

Total downloads

1 ( #431,671 of 1,098,129 )

Recent downloads (6 months)

1 ( #283,807 of 1,098,129 )

How can I increase my downloads?

My notes
Sign in to use this feature


Discussion
Start a new thread
Order:
There  are no threads in this forum
Nothing in this forum yet.