RT Article
T1 Why Stakeholder And Stockholder Theories Are Not Necessarily Contradictory: A Knightian Insight
JF Journal of business ethics
VO 61
IS 3
SP 249
OP 262
A1 Velamuri, S. Ramakrishna
A1 Venkataraman, S.
A2 Venkataraman, S.
LA English
YR 2005
UL https://ixtheo.de/Record/1785624482
AB The normative foundations of the investor centered model of corporate governance, represented in mainstream economics by the nexus-of-contracts view of the firm, have come under attack, mainly by proponents of normative stakeholder theory. We argue that the nexusof- contracts view is static and limited due to its assumption of price-output certainty. We attempt a synthesis of the nexus-of-contracts and the Knightian views, which provides novel insights into the normative adequacy of the investor-centered firm. Implications for scholarship and management practice follow from our discussion.
K1 Stakeholder Theory
K1 Business Ethics
K1 Entrepreneurship
K1 Corporate Governance
K1 theory of the firm
DO 10.1007/s10551-005-4733-9