Mergers, takeovers, and a property ethic

Journal of Business Ethics 7 (1-2):109-116 (1988)

Abstract
The recent takeover and merger trend cries out for ethical evaluation. This essay proposes a model for evaluating them in terms of their impact on a firm's immediate stakeholders: investors, owners, management and employees. Since mergers and takeovers are 'Transfers of Ownership of Firms' they entail a property ethic of ownership, control, securing stakeholder interests, and defining which stakeholders should exercise these rights. I use the model to evaluate two fictional cases, a friendly merger and a hostile takeover. The results show that neither TOF serves all interests equitably. Since the control structure of the private firm is legitimized by its interest structure, I reason that both should be reformed. Both rest on a broader economic rationale; but it is controverted. Accordingly, the economic and ethical evaluation of TOFs, I conclude, both entail the democratic reform of the control structure of the firm
Keywords No keywords specified (fix it)
Categories (categorize this paper)
DOI 10.1007/BF00382004
Options
Edit this record
Mark as duplicate
Export citation
Find it on Scholar
Request removal from index
Revision history

Download options

Our Archive


Upload a copy of this paper     Check publisher's policy     Papers currently archived: 40,649
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.

Add more references

Citations of this work BETA

No citations found.

Add more citations

Similar books and articles

Mergers, Takeovers, and a Property Ethic.Vincent Norcia - 1988 - Journal of Business Ethics 7 (1-2):109 - 116.
Mergers, Acquisitions and Takeovers in Publishing: Why They Go on, and on, and Will Go On.Eric de Bellaigue - 1995 - Logos. Anales Del Seminario de Metafísica [Universidad Complutense de Madrid, España] 6 (1):6-15.
A Dutch Saga of Publishing Mergers and Takeovers.Johan de Vries - 1995 - Logos. Anales Del Seminario de Metafísica [Universidad Complutense de Madrid, España] 6 (3):124-136.
TWO Ethical Issues in Takeovers and Mergers'.P. Werhane - 1988 - Journal of Business Ethics 7:41-45.
Two Ethical Issues in Mergers and Acquisitions.Patricia H. Werhane - 1988 - Journal of Business Ethics 7 (1-2):41 - 45.
The Ethical Side of Takeovers and Mergers.Cooke Robert Allan & Young Earl - forthcoming - Madsen, Essentials of Business Ethics.
Understanding the Global Ethic Project.Mats Volberg - 2012 - Public Reason 4 (1-2):18-27.

Analytics

Added to PP index
2014-04-04

Total views
11 ( #658,655 of 2,242,404 )

Recent downloads (6 months)
4 ( #500,077 of 2,242,404 )

How can I increase my downloads?

Downloads

My notes

Sign in to use this feature