Business Ethics Quarterly 8 (1):19-42 (1998)

Abstract
The three leading normative theories of business ethics are the stockholder theory, the stakeholder theory, and the social contracttheory. Currently, the stockholder theory is somewhat out of favor with many members of the business ethics community. Thestakeholder theory, in contrast, is widely accepted, and the social contract theory appears to be gaining increasing adherents. In thisarticle, I undertake a critical review of the supporting arguments for each of the theories, and argue that the stockholder theory is neitheras outdated nor as flawed as it is sometimes made to seem and that there are significant problems with the grounding of both thestakeholder and social contract theory. I conclude by suggesting that a truly adequate normative theory of business ethics must ultimately be grounded in individual consent
Keywords Applied Philosophy  Business and Professional Ethics  Social Science
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ISBN(s) 1052-150X
DOI 10.2307/3857520
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Participating in the Common Good of the Firm.Alejo José G. Sison & Joan Fontrodona - 2013 - Journal of Business Ethics 113 (4):611-625.
Stakeholder Theory: A Deliberative Perspective.Ulf Henning Richter & Kevin E. Dow - 2017 - Business Ethics: A European Review 26 (4):428-442.

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