Moral Sanctions: Ethical Norms as a Solution to Corporate Governance Problems

Moral Sanctions: Ethical Norms as a Solution to Corporate Governance Problems

This paper hopes to make more plausible the claim that ethical norms offer a powerful basis to solve corporate governance and corporate responsibility problems. This is necessary because ethical norms have not tended to be given a significant role by conventional approaches to these problems, whethe...

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Veröffentlicht in:Journal of Corporate Citizenship. - Greenleaf Publishing. - (2004), 15, Seite 49-61
1. Verfasser: Mackenzie, Craig (VerfasserIn)
Format: Online-Aufsatz
Veröffentlicht: 2004
Zugriff auf das übergeordnete Werk:Journal of Corporate Citizenship
Schlagworte:Governance Business ethics Corporate responsibility Environmental management Norms Emotions Game theory Market failure Principal–agent problems Philosophy mehr... Business Economics Mathematics
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520 |a This paper hopes to make more plausible the claim that ethical norms offer a powerful basis to solve corporate governance and corporate responsibility problems. This is necessary because ethical norms have not tended to be given a significant role by conventional approaches to these problems, whether at the theoretical or the public policy level. The emphasis, instead, has been on government intervention and market mechanisms of various kinds. The paper provides a brief account of the new theoretical work on ethical norms, which shows how they can give rise to moral sanctions that provide powerful incentives for agents to exercise self-restraint. Drawing on this work, the paper presents a preliminary account of how ethical norms may be able to play a powerful role in addressing corporate governance and corporate responsibility problems. The paper calls for the development of a more complete ‘norms theory’ of corporate governance and corporate responsibility as the basis for more effective remedies to governance problems in the future. 
540 |a © 2004 Greenleaf Publishing 
650 4 |a Governance 
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650 4 |a Philosophy  |x Axiology  |x Ethics  |x Normative ethics  |x Morality 
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650 4 |a Business  |x Business structures 
650 4 |a Economics  |x Economic disciplines  |x Financial economics  |x Finance  |x Financial investments  |x Investors  |x Shareholders 
650 4 |a Mathematics  |x Applied mathematics  |x Game theory 
650 4 |a Business  |x Industry  |x Industrial sectors  |x Manufacturing industries  |x Fossil fuels industries  |x Oil industry  |x Oil companies 
650 4 |a Philosophy  |x Axiology  |x Ethics 
650 4 |a Philosophy  |x Applied philosophy  |x Applied ethics  |x Social ethics 
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