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The Social Responsibility of Management: A Critique of the Shareholder Paradigm and Defense of Stakeholder Primacy

The Social Responsibility of Management: A Critique of the Shareholder Paradigm and Defense of... Shareholder Theory allows management to ignore the interests of the other constituencies while pursuing its own narrow self‐interest under the guise (the ethical facade) of promoting the interests of the shareholder owners. The Shareholder Theory does not provide any relistic counterweight against management abuse. The Enron example strengthens the arguments for the use of Stakeholder theory and exposes the utter failure of the Shareholder Theory. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png American Journal of Business Emerald Publishing

The Social Responsibility of Management: A Critique of the Shareholder Paradigm and Defense of Stakeholder Primacy

American Journal of Business , Volume 18 (2): 5 – Jan 1, 2003

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Publisher
Emerald Publishing
Copyright
Copyright © 2003 MCB UP Ltd. All rights reserved.
ISSN
1935-5181
DOI
10.1108/19355181200300013
Publisher site
See Article on Publisher Site

Abstract

Shareholder Theory allows management to ignore the interests of the other constituencies while pursuing its own narrow self‐interest under the guise (the ethical facade) of promoting the interests of the shareholder owners. The Shareholder Theory does not provide any relistic counterweight against management abuse. The Enron example strengthens the arguments for the use of Stakeholder theory and exposes the utter failure of the Shareholder Theory.

Journal

American Journal of BusinessEmerald Publishing

Published: Jan 1, 2003

Keywords: Shareholder Theory; Management abuse; The ethical facade

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