Abstract:This article addresses the issue of whether and to what extent moral values can be attributed to collective actors. The paper starts from the premise that business ethics as the ethics of an organization is to be distinguished from the virtues of its members. This point is elaborated in both economic- and organization-theoretic terms within the framework of the New Economics of Organization. The result is the development of a concept of governance ethics. The ethics of governance is about the (...) incorporation of moral conditions and requirements in the management, governance, and control structures of a firm. This is the contextual precondition for the long-lasting and beneficial effects of the virtues of individuals within the organizations. (shrink)

This article brings forward the argument that the practical implementation of a corporate governance code cannot be realized by a compliance program alone. Its relevance in everyday business is determined by the moral values of the company culture. In this context, governance is defined as a company’s resources and capabilities, including the moral resources, to take on responsibility for all its stakeholders. A critical discussion of the agency theory, transaction cost theory, and organization theory shows that such an approach is (...) possible only when a company is not perceived as a maximizing machine for shareholders’ interests but as an economic form of cooperation of internal and external resources and stakeholders. An empiric study on 22 European corporate governance codes shows that the predominant majority of European codes orientate themselves to stakeholders and the company. The discussion of the empirical data reveals six basic principles that determine all European corporate governance codes: shareholder rights, transparency, voting rights, regulation of remuneration, design of organizational structures, and corporate social responsibility. (shrink)

This article responds to the review of Hemphill and Lillevik, “The Global Economic Manifesto: A Retrospective.” It aims to contribute to the worldwide discussion of global accepted norms and values of corporate behavior by addressing universal ethical principles and implementation strategies. A focus is set on the means of specifying values to serve the action orientation of an organization and its management. Since external normative expectations rise in context of the upcoming Post-2015 Development Agenda, corporate responses need to take local (...) specifics as well as international accepted norms into account. Therefore, a distinctive implementation design is outlined. Key strategic steps contain elements such as awareness of common values, differing consequences due to cultural environments and economic conditions, integration of practical experience to gain impact-related insights, and fostering global leadership education. Consequently, corporate value management approaches and Post-2015 Sustainable Development Agenda are connected through universal values. (shrink)

Over the last years, “Creating Shared Value” has become a much discussed concept in business practice as well as in management theory and especially in the context of corporate social responsibility. This book offers a contribution to the current academic discussions on the well-received article of Michael Porter and Marc Kramer in Harvard Business Review in 2011. In the light of the increasing references to the shared value concept, it develops a critical discussion on its fundamentals and its implications for (...) the relationship between economy and society. By that, the book seeks to shed light on the understanding of the role and the nature of the firm in a globalized economy. The result is a collection of interdisciplinary academic reviews which offer interdisciplinary reflections on “Creating Shared Value” to illuminate theoretical, conceptual and practical challenges of the topic. Within the fields of Business Ethics, Theory of the Firm, Management and Philosophy, researcher, students and practitioners will be given a deeper insight on how to approach to the concept in a conceptional and philosophical way. (shrink)

Vorwort Es ist nicht ohne eine gehörige Portion Skepsis zu sehen, wenn ein Ökonom sich mit Fragen der Philosophie und Gesellschaftstheorie ...

The author examines the religious-political slogan »Option für die Armen« in patterns of oeconomic questions. In his view this slogan doesn't make any sense. Along with the autor offers reflections concerning practical competence of Christian ethics in modern societies.

This article examines Luther's conception of Economy and Economics. The analysis shows a paradoxially structured religious communication about economic problems. This form of communication serves to keep contingency available within the economic system. Together with reason, conscience and belief the awareness of contingency is a presupposition of reasonable economical decisions. The most important conclusion is that the relationship of these aspects of action- as discussed by Lutheris also a majorproblern in the contemporary discussion of business and economics effects.