The Nature of the Firm, Agency Theory and Shareholder Theory: A Critique from Philosophical Anthropology

Standard accounts on the nature of the firm are highly dependent on explanations by Coase, coupled with inputs from agency theory and shareholder theory. This paper carries out their critique in light of personalist and common good postulates. It shows how personalist and common good principles crea...

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Bibliographic Details
Published in:Journal of business ethics
Authors: Fontrodona, Joan (Author) ; Sison, Alejo José G. (Author)
Format: Electronic Article
Language:English
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Published: Springer Science + Business Media B. V 2006
In: Journal of business ethics
Further subjects:B nature of the firm
B Common Good
B shareholder theory
B Agency Theory
B Personalism
Online Access: Presumably Free Access
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Summary:Standard accounts on the nature of the firm are highly dependent on explanations by Coase, coupled with inputs from agency theory and shareholder theory. This paper carries out their critique in light of personalist and common good postulates. It shows how personalist and common good principles create a framework that not only accommodates business ethics better but also affords a more compelling understanding of business as a whole.
ISSN:1573-0697
Contains:Enthalten in: Journal of business ethics
Persistent identifiers:DOI: 10.1007/s10551-006-9052-2