Cet article constitue la réponse à une note critique publiée dans le n° 71 d’ Actuel Marx, dans laquelle Fabien Foureault discutait les travaux de G. Duménil et D. Lévy concernant l’actuelle transition entre le capitalisme et un nouveau mode de production, le managérialisme. Le premier argument est le fait que les hauts managers sont rétribués par la distribution de stock-options, considérés comme des revenus du capital par Foureault bien que ces options n’aient pas de rapport avec la détention (...) antérieure d’actions par les bénéficiaires. La forme de la rémunération l’emporte sur les pratiques qui la motivent. Foureault utilise, par ailleurs, les calculs réalisés au sein des Distributional National Accounts qui montrent que la part des revenus du capital au sein du revenu total du 1 % supérieur de la hiérarchie des revenus n’a pas décru. Ces nouvelles estimations sont, pour GD et DL, inutilisables hors des finalités comparatives pour lesquelles elles ont été conçues. Enfin, les auteurs considèrent que Foureault se méprend radicalement quant à la nature de leurs interprétations politiques. (shrink)

Dans cet entretien consacré à leur livre Managerial Capitalism : Ownership, management and the coming new mode of production (Pluto Press, 2018), G. Duménil et D. Lévy reviennent sur les implications de leur analyse du capitalisme managérial pour l’étude du capitalisme historique, de ses structures de classes fondamentales, et de ses alliances de pouvoirs variables. La thèse du marxisme traditionnel identifiant les managers à une fraction de classe capitaliste s’en trouve critiquée, de même que les présupposés véhiculés (...) par le concept de « capitalisme d’État ». Invités à revenir plus précisément sur leur distinction entre modes de production et « ordres sociaux », comme configurations variables de hiérarchies de pouvoirs et d’alliances de classe, les auteurs clarifient les raisons pour lesquelles ils introduisent une nouvelle catégorie de mode de production managérial qui impose de repenser le mode de production capitaliste lui-même suivant une logique de « l’hybridité ». Celle-ci permet de complexifier les tendances du capitalisme historique sur la longue durée, d’approfondir l’analyse de classe du capitalisme managérial, et d’y spécifier différentiellement, par rapport au « compromis » d’après-guerre (caractérisé par une alliance entre managers et classes populaires sous la direction des premiers), le dernier ordre social en date caractérisé par une alliance « au sommet » entre managers et capitalistes (au détriment des classes populaires) : le néolibéralisme. (shrink)

"Mille Plateaux (Paris, Éditions de Minuit, 1980) est le second des deux volumes ayant pour sous-titre Capitalisme et schizophrénie issu de la collaboration entre le philosophe Gilles Deleuze et le philosophe et psychanalyste Félix Guattari. Cet ouvrage continue à explorer par des voies inédites - en s'attaquant notamment à une série d'erreurs afférentes selon les auteurs à l'arborescence, à l'État, au langage... - la question déjà avancée dans L'Anti-Œdipe (premier volume) d'une ontologie révolutionnaire des devenirs ("presque imperceptibles") qui ne (...) cessent de défaire l'histoire des identités ("primauté des lignes de fuite") et de produire des "coups" imprévisibles au sociologue et au militant. Sans doute le livre politique de Deleuze et Guattari le plus important, grâce à sa conception originale du pluralisme (l'individu n'y est pas conçu comme fondement de l'organisation sociale : les subjectivités sociales sont toujours au-dessus ou en dessous du niveau de l'individu, composant et décomposant des collectivités de toutes sortes)"--Wikipedia = Mille Plateaux (Paris: Editions de Minuit, 1980) is the second of two volumes which comes in the series of Capitalism and Schizophrenia is a result of collaboration between the philosopher Gilles Deleuze and Felix Guattari, philosopher and psychoanalyst. This book continues to explore new paths - including addressing a series of errors by the authors related to the tree, the state, the language... - that are already dealt with in Anti-Oedipus (first volume) of an ontology of revolutionary futures; the latter continues to unravel the history of identities ("primacy of lines of flight") and produce "coups" unforeseeable to the sociologist and activist. No doubt the political book of Deleuze and Guattari's is the most important, with its original conception of pluralism (the individual is not conceived as the foundation of social organization: social subjectivities are always above or below of the individual level, composing and decomposing communities of all kinds).". (shrink)

L’union des deux thèmes hétérogènes « capitalisme » et « utopie », provient d’une description des conséquences d’une différenciation fonctionnelle du système de la société. Si par « capitalisme » on entend la description d’une société possédant un système économique différencié et autonome quant à ses opérations, la question est de savoir comment le système politique peut coexister à côté de lui. Par l’utopie. L’utopie politique, qui permet d’assurer la coexistence des deux systèmes, se nomme « économie sociale (...) de marché ». Mais cette utopie n’est plus définie comme modèle idéal permettant une critique de la société actuelle, c’est une composante de l’autodescription du système, une forme de réplication, dans le système politique lui-même, du caractère non maîtrisable de la société. (shrink)

La théorie économique marxiste rend compte des rapports entre capitalisme et violence à l’aide notamment du concept d’accumulation primitive. Cet article se propose de montrer comment ce concept s’est construit et étoffé en analysant trois étapes : d’abord son élaboration initiale par Karl Marx (l’accumulation primitive comme préhistoire du capital), ensuite une première extension par Rosa Luxemburg (l’accumulation primitive comme mouvement actuel d’extension géographique de la logique du capital du centre vers la périphérie), et enfin une seconde extension par (...) David Harvey (l’accumulation primitive comme mouvement de recolonisation « intérieure » et d’« accumulation par dépossession »). L’article propose d’articuler ces trois étapes à partir de la dialectique entre droit et violence telle que l’a problématisée le philosophe Walter Benjamin (2018). Codes JEL : B14, B24, B5. (shrink)

This study uses judgment and decision-making (JDM) perspective with the help of framing and schema literature from cognitive psychology to evaluate how managers behave when problems with unethical overtones are presented to them in a managerial frame rather than an ethical frame. In the proposed managerial model, moral judgment of the situation is one of the inputs to managerial judgment, among several other inputs regarding costs and benefits of various alternatives. Managerial judgment results in managerial intent leading to managerial action. (...) The model and the effects of taking an ethics course on ethical and managerial judgment and managerial intent were then indirectly tested in this study, wherein subjects judged the ethical wrongness, managerial badness, and the managerial intent regarding decisions made in a case. Forty-nine MBA students analyzed a case involving budget-based bonuses and production, in which the ethical issue evolved over three stages. It appears from the Path-analysis results that managerial judgment mediated between moral judgment and the judgment of managerial intent as suggested by the proposed model, and that taking an ethics course directly affected managerial judgment but did not affect the moral judgment. Additionally, in the first stage of decision-making (early stage of a developing “ethical slippery slope”), moral judgment did not significantly influence managerial judgment. However, students with ethics course still were more inclined to judge the decision as managerially bad as compared to others, indicating that they were more aware or sensitive to the moral issues involved. (shrink)

There is a need of further research to understand how social capital in the organization can be fostered. Existing literature focuses on the design of reciprocity norms, procedures and stability employment practices as the main levers of social capital in the workplace. Complementary to these mechanisms, this paper explores the impact of ethical managerial behaviour on the development of social capital. We argue that a managerial behaviour based on the true concern for the well-being of employees, as well as their (...) motivational and ethical development, can be particularly important for the generation of social capital in the organization. It is suggested that manager's behaviour should be based on three principles: following examplary behaviour, helping the employees to value the consequences of their actions in other persons, and not betraying employee's trust. When the manager conforms to those principles, he can ease the process through which employees develop associability and identification-based trust with the firm, the two main components of 'Organizational Social Capital'. Bringing ethics into the debate of social capital creation seems to us fundamental, as social capital in the firm is likely to be influenced by the ethical and motivational development of its members. (shrink)

This paper explores the relationship of various trait emotions to the ethical choices of 189 college students who completed a managerial decision-making task as part of an in-basket exercise in a laboratory setting. Prior research regarding emotion influences on ethical decision-making and linkages between emotions and cognition informed hypotheses about how different types of emotions impact ethical choices. Findings supported our expectations that positive and negative emotions classified as active would be more strongly related to interpersonally-directed ethical choices than to (...) organizationally-directed ones, and that passive emotions would be less related to ethical choices than active emotions. Implications for ethical decision-making research and organizational practices are discussed. (shrink)

Exploitation, captation, domination, corruption, destruction, aliénation, accumulation, marchandisation, et aussi avidité, rapacité, rivalité, insensibilité, inégalité, et encore abus, culte de l’argent, pulsion de mort..., j’en passe et des meilleurs. Tels sont les mots du capitalisme. C’est en effet ainsi que, très généralement, pour ne pas dire universellement, on définit le...

Is there a relationship between the psychological construct of hierarchic managerial role motivation and the moral construct of role-related ethical orientation? In this study we examine this question using responses from a sample of 147 business students in Hong Kong. Managerial role motivation or motivation to manage is defined as an internal force that leads select individuals to pursue, enjoy, and succeed in management positions in relatively large hierarchical organizations. As hypothesized, respondents with higher levels of managerial role motivation demonstrated (...) greater managerial role-related ethical orientation as compared with their less managerially motivated counterparts. Similarly, respondents with higher levels of respect for authority figures, competitive games, competitive situations, assertive role, imposing wishes, and a liking for routine administrative functions possessed greater ethical orientations. The research significance, limitations and future field applications are discussed. (shrink)

" Le monde actuel, celui de la mondialisation et du capitalisme, est te monde juste qu'a voulu la philosophie depuis son commencement avec Socrate et Platon. " Comment l'auteur de cet ouvrage peut-il soutenir pareille thèse? Parce que le monde où nous vivons est celui de la fin de l'histoire. Non pas certes au sens hégélien d'un accomplissement naturel et irrésistible - il y a eu l'Holocauste. Mais au sens où, dans ce monde, le mat foncier de l'homme, sa (...) complaisance inéliminable à l'aliénation, son injustice constitutive, son refus de l'" ex-istence " vers l'autre, sa pulsion de mort, ont été fixés : le mal a été réduit à sa forme minimale - socialement, le capitalisme. Dans cette fin de l'histoire s'établit ta démocratie véritable, celte qui garantit à chacun, parle droit, les conditions pour advenir à son individualité. Une démocratie délivrée de tous démons de démocratie directe et confirmée dans sa vérité de démocratie représentative par l'acceptation résolue du capitalisme. Telles sont les conséquences politiques que doit tirer aujourd'hui ta philosophie, si du moins elle ne se contente pas, avec ta pensée contemporaine depuis Kierkegaard, de poser l'existence ; de surcroît elle pose l'inconscient qui en est le principe. Car ta seule affirmation de l'existence a voué la philosophie à une contradiction radicale incarnée dans ce penseur si problématique qu'est Carl Schmitt. Et elle a débouché, à travers le projet de révolution anticapitaliste, sur tes horreurs du totalitarisme lumineusement décrites par Hannah Arendt. La philosophie ne peut résoudre une telle contradiction qu'en affirmant l'inconscient : cet inconscient créateur par lequel est assumé, autant qu'il est possible, le refus foncier de l'existence - la pulsion de mort. (shrink)

Exploitation, captation, domination, corruption, destruction, aliénation, accumulation, marchandisation, et aussi avidité, rapacité, rivalité, insensibilité, inégalité, et encore abus, culte de l’argent, pulsion de mort..., j’en passe et des meilleurs. Tels sont les mots du capitalisme. C’est en effet ainsi que, très généralement, pour ne pas dire universellement, on définit le..

The purpose of the research is to develop a new methodological basis for identifying, analyzing and solving problems of international corporations export-import activities and to ground the directions for ensuring their business excellence. The approach originality provides introduction of a conceptual model that aims to eliminate the negative symptoms of international corporations export-import activities based on the results of comprehensive market research, effectiveness of export-import activities and calculation of the integrated indicator of business excellence. The leading corporations of Slovakia and (...) India in the production of bi-axially oriented polypropylene (BOPP) films were the primary basis for this study. The results of the research showed the need to implement a system of managerial innovation for reasoning the directions of ensuring international corporations business excellence. This is achieved because of using logically formalized methods and provides the improvement of organizational and structural interaction of management entities in the process of solving export-import activity problems. Important factors for ensuring business excellence are also the optimization of export and import costs, as well as an increase in export revenue for Slovak companies, and an increase in market share and cost optimization for Indian companies. The practical value of the obtained results is to develop a set of managerial innovations that can improve the efficiency of export-import activities and improve international corporations business. (shrink)

This study proposes and tests a model that integrates culture, attitudes, subjective norms, and attributions into a theoretical framework that explains tolerance toward nepotism in a Latin American country. The participants were 202 Ecuadorian middle and upper managers. The results suggested that attitudes, subjective norms, and attributions significantly predict managerial intention to discipline those employees who favored a family member when hiring. Furthermore, subjective norms and internal attributions mediated the relationship between culture and intentions to discipline employees who engaged in (...) nepotistic acts. Our findings highlight the need to implement culture-congruent HR practices to effect mission-driven changes in talent management practices. (shrink)

The managerial turn in academia is currently broadly discussed. Based on empirical data gathered from a sample that includes all German universities, we can give a broad and fine-grained account of this turn. What we can clearly see is that whole new categories of administrative management positions have been created over the last years. Furthermore, within the non-academic staff we can see a profound restructuration. Lower-level positions like those for clerical work decreased, while higher-level positions in the administration increased. However, (...) and in contrast to studies of countries, we do not observe a general shift from academic to non-academic positions. In addition to the statistical analysis of survey data and personnel data, we conducted seventy in-depth interviews with heads of administrative management units, in particular those being created over the last two decades, for example, on quality control, technology transfer, and career service. Although we clearly see important changes indicating a managerial turn in higher education, core characteristics of a professional organization whose basic processes are ultimately controlled by academics and not by administrators or managers have been retained. These findings call for further cross-national research. (shrink)

This article serves as an introduction to the special issue discussing the usefulness of philosophy in managerial practice. We present the papers included in this special issue and identify keynote directions for further research. The initial intention of the call for papers was to promote this topic on research agendas by offering a platform for discussing if, why, and how philosophy can complement and enhance management practice. Now that this special issue has been published, we see a broader significance: the (...) arguments explored here are a starting point for more in-depth studies of the connections that can occur between specific philosophical concepts, theories, methods on the one hand, and concrete managerial practices on the other. (shrink)

Le but de ce recueil est d’offrir des commentaires accessibles et introductifs aux textes classiques qu’ils accompagnent, en ouvrant des perspectives de discussion sur le thème du capitalisme. C’est en ce sens qu’Emmanuel Chaput lance le débat en commentant le texte de Pierre-Joseph Proudhon, « Qu’est-ce que la propriété ? ». Les textes de Karl Marx ne sont bien sûr pas laissés pour compte : Samuel-Élie Lesage s’engage fermement dans cette voie en discutant L’idéologie allemande de Karl Marx, Christiane (...) Bailey nous offre d’approcher différemment l’œuvre marxienne en abordant son traitement de la question animale dans des extraits du Manifeste du parti communiste et du Travail salarié et capital, et Mathieu Joffre-Lainé nous présente une analyse fine des questions proprement économiques du Capital. Abordant les alternatives au capitalisme dans la pensée de Léon Bourgeois, Éliot Litalien commente La Solidarité et Simon-Pierre Chevarie-Cossette s’attaque à l’analyse de l’Essai d’une philosophie de la solidarité. Enfin, en liant capitalisme, patriarcat et pouvoir politique, Tara Chanady propose une lecture du texte Du mariage et de l’amour de Emma Goldman. La conclusion de Marie-Eve Jalbert se situe dans une perspective contemporaine et critique en décortiquant la critique du socialisme avancée par Friedrich A. Hayek. (shrink)

Managers face an ethical dilemma in the allocation of scarce resources to corporate social responsibility because the underlying managerial incentives behind such CSR spending can range from pure altruism to complete financial orientation. Despite the importance of the managerial role in implementing CSR, prior studies generally have treated the role of managers as an exogenous factor. This study builds on recent studies on the managerial characteristics in studies on CSR by examining how managerial efficiency influences the outcomes of CSR. Using (...) a newly developed measure of managerial efficiency, we find that, on average, managerial efficiency is positively associated with a subsequent change in corporate social performance, although the association is weak in the level of total CSP. We find that efficient managers are more likely to engage in the product-related CSR that directly connects to corporate financial performance but are less likely to engage in environment-related CSR. We also find that CSP is positively associated with CFP with efficient managers. Our findings contribute to management and other stakeholders’ understanding of the association of CSR to its outcomes, CSP and/or CFP, which is hinged by the indispensable moderating role of managerial efficiency. (shrink)

This article examines how employees form their perceptions of managerial responsibility in a concrete organizational setting. Drawing on negotiated order theory, it shows that these perceptions are the result of complex processes of social construction and negotiation, rather than the application of predetermined ethics models or norms. Employees’ perceptions appear to be unstable; they are subject to constant alterations, fluctuating with the organizational circumstances, and are likely to create considerable organizational perturbations, especially when managers make complex and ambiguous decisions. This (...) process is illustrated through an ethnographic study that analyzed the evolution of employee perceptions during a three-year crisis—one that led managers to repeatedly postpone salary payments to save jobs. The process approach adopted by the study highlights important dynamics that traditional business ethics approaches overlook, such as the fragility of the construct of managerial responsibility, which cannot be coherent unless it is constantly renegotiated among an organization’s various employee groups. (shrink)

Dans les nations industrialisées, les goûts des individus sont désormais employés à doper la consommation. L'industrialisation de la jouissance privilégie le superflu au nécessaire, la sensibilité à la raison, la séduction à la faculté de juger. Pourtant, avec l'exploitation du goût, le capitalisme est loin d'avoir découvert une terre inconnue. A l'âge classique, la noblesse de cour cultivait un style de vie commandé par les loisirs et le goût, tout en faisant du bon goût un critère de distinction et (...) de promotion individuelle. Ces relations de compétition entre courtisans ont-elles été les premières notes en prélude au libéralisme? Si l'improductivité, au sens économique, a pu constituer une valeur fondatrice du goût, comment l'industrie a-t-elle pu transformer le goût en moteur économique de la consommation? Le devenir esthétique du capitalisme repose sur la captation et la conversion de ce qu'il aurait de plus individuel en valeurs mesurables, échangeables et massifiables, susceptibles de coloniser les moindres recoins de l'existence et de al culture. L'ouvrage montre que les enjeux du capitalisme esthétique excèdent le territoire angélique des agréments : les batailles esthétiques sont au cœur d'une guerre économique pour le contrôle des émotions et des affections. (shrink)

À propos de : Eva Illouz, La Fin de l’amour. Enquête sur un désarroi contemporain (2018), trad. de l’anglais par Sophie Renaut, Paris, Seuil, coll. « La couleur des idées », 2020, 416 p. Avec La Fin de l’amour, Eva Illouz poursuit l’enquête sociologique commencée il y a plus de vingt ans sur « la transformation par le capitalisme et la culture de la modernité de notre vie affective et amoureuse ». Après un premier livre en 1997 consacré aux (...) différentes formules de l’utopie romantique au sein... (shrink)

Read again in light of the current French social conflict around the part-time theater and cinema workers, the book by L. Boltanski and E. Chiapello, Le nouvel esprit du capitalisme, seems to have been quite prescient when describing work as organized store and more through short-term projects. But the lack of social security in this system is supposed by the authors to conte front the artist-critics who were interested mostly in individual freedom and expressivity, store than from the infrastructural (...) organization of capitalism. Solutions are sought by analogy with the rides that protect salaried workers, particularly the idea of a guaranteed income or social wage. (shrink)

Après la crise de l’année 2008, la plus grave jamais traversée par le capitalisme depuis 1929, après des immixtions d’un niveau rarement atteint du politique dans l’économie, voilà que surgissent d’amples interrogations sur la nature même de ce régime économique. En ces temps de crise de l’économie et de trouble dans la pensée sur l’économie, il faut..

« Voici un livre vif, intelligent, nullement béni-oui-oui. Avec Lacan, il démontre que le capitalisme est une machine à faire jouir massivement. Ce qui s'obtient n'est pas pour autant une jouissance toute, mais seulement des lichettes. La jouissance demeurera toujours tonneau des Danaïdes. » Hervé Castanet, professeur des universités, psychanalyste, membre de l'école de la Cause freudienne. -/- Partout la qualité de vie prend la forme d'une quantité d'envies. Le nouveau monde oscille entre deux versants d'une même pièce de (...) théâtre : côté cour, des passages à l'acte obscènes ; côté coulisses, un puritanisme coupable. Pouvons-nous nous comporter autrement que comme des machines à jouir détraquées, dont le courant alternatif oscillerait entre avidité et rétention, gaspillage et dette ? Beaucoup se demandent pourquoi, une fois réunies les conditions imaginaires ou symboliques de la jouissance, c'est un réel vide ou perverti qui s'installe. C'est que la mécanique même de l'économie libidinale capitaliste repose sur l'angoisse sans cesse repoussée d'un désir dévoyé. Dans un monde globalement structuré par la plus-value, la jouissance prend la forme internationale du « plus-de-jouir ». -/- Faut-il pour autant renoncer à la joie de vivre et se réfugier dans le moralisme et l'austérité ? Lacan, Heidegger et Marx, articulés ensemble, permettent de dire comment une forme d'existence créative est encore possible. Une telle liberté est l'horizon de ce livre. (shrink)

Managers face an ethical dilemma in the allocation of scarce resources to corporate social responsibility (CSR) because the underlying managerial incentives behind such CSR spending can range from pure altruism to complete financial orientation. Despite the importance of the managerial role in implementing CSR, prior studies generally have treated the role of managers as an exogenous factor. This study builds on recent studies on the managerial characteristics in studies on CSR by examining how managerial efficiency influences the outcomes of CSR. (...) Using a newly developed measure of managerial efficiency, we find that, on average, managerial efficiency is positively associated with a subsequent change in corporate social performance (CSP), although the association is weak in the level of total CSP. We find that efficient managers are more likely to engage in the product-related CSR that directly connects to corporate financial performance (CFP) but are less likely to engage in environment-related CSR. We also find that CSP is positively associated with CFP with efficient managers. Our findings contribute to management and other stakeholders’ understanding of the association of CSR to its outcomes, CSP and/or CFP, which is hinged by the indispensable moderating role of managerial efficiency. (shrink)

Shareholders with standard monetary preferences will give a manager incentives to increase firm profits, which can be achieved with equity grants. When shareholders are socially responsible, in the sense that they also value corporate social performance, it is not clear which incentives the manager should receive. Yet, in a standard principal–agent model, we show that the optimal contract is surprisingly simple: it consists in giving equity holdings to the manager. This is notably because the stock price will incorporate expected profits (...) as well as the social performance of the firm, to the extent that it is valued by shareholders. Consequently, equity holdings give the manager incentives to jointly maximize the profits and the social performance of the firm according to shareholders’ preferences. To facilitate alignment of interests, more socially responsible firms will optimally hire more socially responsible managers. We conclude that neither the shareholder primacy model nor equity-based managerial compensation is necessarily inconsistent with the attainment of social objectives. (shrink)

What can be learned from a small scale study of managerial work in a highly marginal and under-researched working community? This article uses the ‘goods–virtues–practices–institutions’ framework to examine the managerial work of owner–directors of traditional circuses. Inspired by MacIntyre’s arguments for the necessity of a narrative understanding of the virtues, interviews explored how British and Irish circus directors accounted for their working lives. A purposive sample was used to select subjects who had owned and managed traditional touring circuses for at (...) least 15 years, a period in which the economic and reputational fortunes of traditional circuses have suffered badly. This sample enabled the research to examine the self-understanding of people who had, at least on the face of it, exhibited the virtue of constancy. The research contributes to our understanding of the role of the virtues in organizations by presenting evidence of an intimate relationship between the virtue of constancy and a ‘calling’ work orientation. This enhances our understanding of the virtues that are required if management is exercised as a domain-related practice. (shrink)

This study examines the direct impact of three dimensions of the institutional environment on managerial attitudes toward the natural environment and the direct influence of the latter on the environmental sustainability orientation (ESO) of small firms. We contend that when the institutional environment is perceived by owner–managers as supportive of sound natural environment management practices, they are more likely to develop a positive attitude toward natural environment issues and concerns. Such owner–manager attitudes are likely to lead to a positive and (...) proactive orientation of their firms toward environmental sustainability. The study uses survey data from 166 small manufacturing firms located in three Philippine cities. First, the study develops and tests the measurement models to examine the validity of the constructs representing the firm’s institutional environment, managerial attitudes toward the natural environment and the ESO of firms. Second, the study develops and tests the structural models examining the institutional environment–managerial attitudes–ESO linkages. Multi-sample invariance structural model analysis shows the mediating role of managerial attitudes in the institutional environment–ESO nexus. The findings show that ESO is a construct comprising three dimensions: knowledge of environmental issues, sustainable practices and commitment toward environmental sustainability. The cognitive, regulatory and normative elements of the institutional environment are strongly linked to positive managerial attitudes toward environmental sustainability, which in turn, positively influences the firm’s overall ESO. Managerial attitudes play a mediating role in the institutional environment–ESO linkages. The managerial, practical, research and policy implications of the research findings are discussed. (shrink)

This study examines the influence of managerial ownership on firm agency costs among listed firms in Bangladesh. This is an institutional setting that features a mixture of agency costs. This institutional setting has a concentration of ownership by managers, but the firms are not solely owned by managers. The extant literature suggests that the sacrifice of wealth by the principal and potential costs associated with monitoring the agents is known as the agency cost. This study uses three measures of agency (...) cost: the ‘expense ratio’, the ‘Q-free cash flow interaction’, and the ‘asset utilisation ratio’. The finding of the study is that managerial ownership reduces the firm agency cost only under the ‘asset utilisation ratio’ measure of agency cost; this is robust with regard to a number of robustness tests. Furthermore, the non-linearity tests suggest that the convergence of interest is evident with very high and low levels of managerial ownership. The entrenchment effect by the owners is evident at moderate levels of managerial ownership. Although there has been great scepticism among management researchers on the validity of agency theory, overall, the findings of this study do not reject the validity of agency theory. Given that the entrenchment by managers is evident at certain levels of ownership and that the agency problem may still exist between insiders and outsiders, legislative guidelines for controlling share ownership may be required. (shrink)

The objective of this study was to explore certain managerial work values in Turkey. A total of 1023 managers from six Turkey regions participated in the study and filled out the questionnaires. Findings were analyzed using regression and ANOVA analyses. A total of three managerial work value factors emerged, which was supported by the current value literature. It was found that there was a relationship between work values and organizational size. The lower the organizational size, the higher the proper values (...) are held. However, organizational tenure, the number of subordinates a manager is responsible, and the educational level of a manager had no significant effect on holding work values. The proper values outnumbered the improper values significantly. The three most held work values were integrity, doing work with care and discipline, and achievement. The three least held values were cliquishness, laziness, and hypocrisy. (shrink)

Modelling agency in economics rests primarily on the assumption of instrumental rationality. Managerial agency is more often analysed with a more complex ‘behavioural’ approach. This has led for years to a sterile debate about the usefulness of the abstract rationality postulate between those who think that it is all but sufficient and those who doubt if it is even necessary. This paper argues that positing an abstract (but real) rational core to managerial agency that is then ‘concretised’ towards actual managerial (...) behaviour is the way forward. Rationality is a necessary but not sufficient characterisation of managerial agency. The theoretical argument is supported by reference to the case of the ill-fated Long Term Capital Management built around the Black, Merton and Scholes Nobel Prize-winning derivatives pricing model. It is argued that the 1998 failure of the portfolio was not the result of a failure of rational agency but of the complexities of its implementation. (shrink)

Que se passe-t-il lorsque le capitalisme, compris comme science, ne réussit plus à rendre raison du réel? Que se passe lorsque les lois fondamentales du capitalisme rencontrent une résistance dans la réalité sociale (la radicalisation des inégalités par exemple) ou dans la réalité naturelle (la crise écologique qui oblige à repenser radicalement le postulat capitaliste du développement permanent)? Se manifeste alors une connexion essentielle et inquiétante entre capitalisme et utopie, qui caractérise le temps présent.

This study evaluated the online privacy policies of business-to-consumer e-commerce firms in five industries of mainland China, Taiwan, and Hong Kong. Based on the neo-institutional theory, we also tested whether the four institutional factors, top management’s legal education, managerial ethics, rule of law in information privacy protection and peer practices, had any effects on e-information and e-communication content. Results from a content analysis of 229 websites found that the privacy policy contents that complied with generally accepted privacy standards were lesser (...) in mainland China firms than those of Taiwan and Hong Kong firms. There were also significant differences in the amount of contents among the five industries. The results of regression analyses showed the importance of all four factors on e-information content. They also showed the importance of coercive, mimetic, and normative isomorphisms on e-information content. The validation of normative isomorphism highlighted the importance of managerial ethics and legal education. Our findings supplemented extant literature which identified economic motive as the main factor in influencing privacy practice disclosures. (shrink)

This is a study that investigated the extent of use of the three principles of ethics – utility, morality, and justice – in managerial ethical decision making, in addition to the personal attitude towards them. It involved undergraduate and graduate business students (total N=163) from the Olayan School of Business in the American University of Beirut, Lebanon. Two kinds of measurements were done: self assessment, and testing with the Saschkin’ s Managerial Value Profile (1997). It showed that morality was the (...) overriding ethical principle used, especially in the graduate group (professionals). Business students still believed in the justice system despite the weakness of the country’s law. Utility was the least used, although males were found to be more utilitarian than females. Finally there was no relation between personal attitudes toward the three ethical principles, and the intentional behavior when faced with ethical dilemmas. The findings were discussed and recommendations were given. (shrink)

This paper examines the ethics of contemporary managerial compensation in the context of executive stock options. Economic considerations would dictate that executive stock options should be adjusted to eliminate the effect of overall stock market movements which are beyond the control of the executive. However, in practice, most executive stock options are not adjusted to control for these outside factors. Agency considerations are the most likely culprit. Adjusting for the influence of outside factors, such as a generally rising stock market, (...) from executive stock options sets a higher bar for managers to reach. Furthermore, traditional accounting standards permitted firms that did not adjust options to avoid reporting options as expenses. This presents CEOs and boards of directors with a major ethical dilemma. On the one hand, their duty to their shareholders and stakeholders dictates that executive stock options should be adjusted to eliminate outside noise from unrelated movements in the overall stock market. However, financial statements are presented in the language of accounting. If the overwhelming majority of the users of a language define a particular item in one way, then to deviate from the norm implies that the recipient of such a deviant statement may not properly interpret the statement. Likewise, if the standard practice is for firms to use unadjusted options and thus under-report expenses, to deviate from this industry norm risks that users of financial statements would not properly interpret the financial statements, with perhaps negative consequences for the shareholders. In short, if "everyone else does it," then it could be wrong for an individual firm to deviate from the norm as that would harm the shareholders. (shrink)

The central role of corporate leaders in setting the ethical tone for their organization is widely accepted. Four well known former CEOs are profiled to illustrate how their managerial ethical leadership not only influenced their firms but also the practice of business. Insights are drawn from their writings and speeches as well as other sources which examine demonstrated leadership abilities. Their behavior not only provides examples of leadership but also is exemplary from an ethical point of view. The article concludes (...) with five common themes that describe these individuals and the essence of managerial ethical leadership. (shrink)

A Managerial Philosophy of Technology offers a unique combination of a review of academic work in the philosophy of technology with practical methodologies for business management of technology strategy.

Managerial values are abstract ideals that act as guiding principles for managing enterprises. Organizational identities connote the central, enduring, and distinctive features of an organization’s self-definition. There is a need to examine how and which managerial values are acted upon within developing country enterprises and how these values are reflected, projected, or disguised in the organizational identities of these enterprises. This special issue pays particular attention to how organizational identities respond to conflicting managerial values in the developing world, how values (...) work enables enterprises to adapt to environmental change, and the relationship between organizational aspiration and positive identities in developing world enterprises. (shrink)

This Article explores how managerial prerogative shapes disputes over employment classification and reveals a neglected but prominent feature in legal arguments about platform worker rights—the disputed relevance of a platform’s intellectual property rights. In classification disputes, instead of denying that it has a right to control how others perform services for it, the company often concedes its employer-like authority but offers an alternative rationale: managerial prerogative. The company argues, and judges often agree, that its labor control is not the exercise (...) of employer authority but instead reflects a prerogative of enterprise ownership, like a right to protect property and determine product lines. Thus, managerial prerogative both explains labor control and exempts that control from the statutory duties that would otherwise attach under the legal tests. Platform companies appear to have taken notice of such cases and designed their work relationships around property-based rationales. For instance, Uber uses a software “license” in which drivers agree to Uber’s authority as a condition for accessing the app. The license depicts the terms upon which drivers must affirmatively cooperate with Uber to produce transportation as simply the negative duties not to interfere with Uber’s intellectual property. The Article concludes that we must reject appeals to managerial prerogative in employment classification disputes. To assume that a property-based rationale for labor control is inconsistent with employment is to misunderstand the legal basis of employment and the purpose of statutory labor law. The appeals also rely on dubious economic assumptions and conflate property rights with agreements about the use of property. (shrink)

Despite a plethora of empirical evidence on the potential role of senior management in the success of corporate social responsibility in Western-dominated organizational contexts, little attempt has been made to document the various managerial mindsets toward CSR in organizations in Muslim-dominated countries in the Middle East region. To address this existing lacuna of theoretical and empirical research in CSR management, this paper offers a qualitative case study of CSR in three manufacturing firms operating in Iran’s auto industry. Based on an (...) inductive analysis of the qualitative data, three types of managerial mindset toward CSR are identified: conformist, self-seeker, and satisfier. While it is evident that these different mindsets of Iranian managers seek to serve managerial ends and short-term self-interests, they fall short of core values of Islamic ethics and CSR. (shrink)

The processes of economic integration induced by globalization have brought about a certain type of legal practice that challenges the core values of legal ethics. Law firms seeking to represent the interests of internationally active corporate clients must embrace and systematically apply concepts of strategic management and planning and install corporate business structures to sustain competition for lucrative clients. These measures bear a high conflict potential with the core values of legal ethics. However, we observe in parallel a global consolidation (...) of these core values through an enhanced cooperation of national professional bodies, the use of international codes, and comparative legal ethics teaching and research. Furthermore, state regulation of the legal profession is concerned with preserving the core values of legal ethics to conserve the lawyer's role in upholding the rule of law. This article defends that legal ethics is adapting to the pressures exerted by "managerial" approaches to legal practice without this altering core values that underlie legal ethics. (shrink)

A comparative study of business related values among business students was conducted over the last 10 years in two neighbouring countries. Although Estonia and Finland are culturally related, according to an empirical study of managerial values, including the ethical values of business students, the two countries display significant differences. During the last decade, Estonia has changed from being a country characterised by an authoritarian, centralized, totalitarian state socialism, to a democratic country with a free market economy and different attitudes and (...) values. At the same time Finland has experienced almost a century of capitalism and democracy. It is argued that the differences in values exhibited by these two countries could be explained by using the institutional and historical context. The authors propose a model of value hierarchies in relation to institutionalism. (shrink)

Stakeholder theory is widely recognized as a management theory, yet very little research has considered its implications for individual managerial decision-making. In the two studies reported here, we used stakeholder theory to examine managerial decisions about balancing stakeholder interests. Results of Study 1 suggest that indivisible resources and unequal levels of stakeholder saliency constrain managers’ efforts to balance stakeholder interests. Resource divisibility also influenced whether managers used a within-decision or an across-decision approach to balance stakeholder interests. In Study 2 we (...) examined instrumental and normative implications of these two approaches. We conclude by considering the contributions of this research. (shrink)

A collection of readings which provides managers and students with a compilation of articles illustrating the application of operations research to aid in managerial decision making.

While previous authors have broadly examined the motivations and outcomes of the philanthropic activities of organizations, the present study extends Miska et al.’s rationalistic approach to examine the degree to which managerial philanthropic decision-making behaviour is dominated by morality. This study also tackles the question of whether this relationship is moderated by the strength of the geographical proximity and amount of the donation within an agency framework. To probe the radical agency problem and the effect of intervention, an alternative heuristic (...) scenario is also developed to provide evidence that managers under the same moral level show significant differences in donation intention under a variety of agency conditions. The results indicate a significant difference between the existence and non-existence of agency problems in charitable decision-making by managers high in idealism and relativism; however, at the same time, philanthropic behaviour is intertwined with various dilemma-related contexts. These findings bridge the gap in the literature on ethics and corporate social responsibility, and challenge current thinking on corporate governance mechanisms in this area by offering researchers and practitioners an integrated model that responds to a strong sceptical bias or a high premium placed on morality. (shrink)