Ethical Management of Crises: Shareholder Value Maximisation or Stakeholder Loss Minimisation?
I argue that, in the context of crises, the shareholder value maximisation model, the dominant form of corporate governance, may lead to decisions and behaviours that are in conflict with several prima facie duties such as reparation, beneficence and non-maleficence. Drawing on a typology of crisis...
| Veröffentlicht in: | Journal of Corporate Citizenship. - Greenleaf Publishing. - (2009), 36, Seite 41-50 |
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| Format: | Online-Aufsatz |
| Veröffentlicht: |
2009
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| Zugriff auf das übergeordnete Werk: | Journal of Corporate Citizenship |
| Schlagworte: | Crisis management Stakeholder theory Corporate governance Shareholder theory Business Political science Economics Philosophy Law |
| Zusammenfassung: | I argue that, in the context of crises, the shareholder value maximisation model, the dominant form of corporate governance, may lead to decisions and behaviours that are in conflict with several prima facie duties such as reparation, beneficence and non-maleficence. Drawing on a typology of crisis response and a typology of crises, I contrast the shareholder value maximisation model, which treats the ethical customs of a society as a constraint, with the stakeholder model of corporate governance, which treats ethical customs as an objective. I suggest that, in the context of crises, the stakeholder model may be the ethically more appropriate choice of corporate governance. |
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| ISSN: | 20514700 |