Partial Utilitarianism as a suggested ethical framework for evaluating corporate mergers and acquisitions

Business Ethics 19 (4):363-378 (2010)
Prior literature on ethical concerns in mergers and acquisitions (M&As) has often concluded that many stakeholders, such as workers and communities, have unjustly suffered as a result of takeovers and associated defences and that their rights as stakeholders have been violated. However, very few papers provide any guidance on how to evaluate a merger or acquisition from an ethical standpoint. This study looks at how ethical frameworks could be used to assess the ethical impact of a merger or acquisition and gives practical guidance. It is proposed that decision makers should consider the impact on four stakeholder groups: shareholders, employees, customers and directors. We call the proposed method for doing this Partial Utilitarian analysis. We suggest two possible ways of applying the Partial Utilitarian analysis. One approach could rely on the evidence from a sample of recent deals. For this, empirical analysis is conducted on a sample of large M&As in the United Kingdom in the period 1993–2003. Alternatively, a better approach, requiring considerable management time, requires forecasting of the economic impact on the four groups of stakeholders. The paper shows how to do this.
Keywords No keywords specified (fix it)
Categories (categorize this paper)
DOI 10.1111/j.1467-8608.2010.01599.x
 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: 24,411
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
Thomas M. Garrett (1966). Business Ethics. New York: Appleton-Century-Crofts.

Add more references

Citations of this work BETA

Add more citations

Similar books and articles
Vincent Norcia (1988). Mergers, Takeovers, and a Property Ethic. Journal of Business Ethics 7 (1-2):109 - 116.

Monthly downloads

Added to index


Total downloads

21 ( #222,725 of 1,924,738 )

Recent downloads (6 months)

5 ( #187,091 of 1,924,738 )

How can I increase my downloads?

My notes
Sign in to use this feature

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