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Does the Stakeholder Theory Constitute a New Kind of Theory of Social Responsibility?

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  • Carson, Thomas L.

Abstract

In a recent paper, Kenneth Goodpaster formulates three versions of the stakeholder theory of corporate social responsibility. He rejects the first two versions and endorses the third. I argue that the theory that Goodpaster defends under the name “stakeholder theory†is a version (albeit a somewhat different version) of Milton Friedman’s theory of corporate social responsibility. I also argue that the first two formulations of the stakeholder theory which Goodpaster discusses are at most only slight modifications of other theories. I conclude by formulating a fourth version of the stakeholder theory which I believe does constitute a substantial departure from earlier theories of social responsibility.

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  • Carson, Thomas L., 1993. "Does the Stakeholder Theory Constitute a New Kind of Theory of Social Responsibility?," Business Ethics Quarterly, Cambridge University Press, vol. 3(2), pages 171-176, April.
    • Handle: RePEc:cup:buetqu:v:3:y:1993:i:02:p:171-176_00
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    Cited by:

    1. Emilio Abad-Segura & Francisco Joaquín Cortés-García & Luis J. Belmonte-Ureña, 2019. "The Sustainable Approach to Corporate Social Responsibility: A Global Analysis and Future Trends," Sustainability, MDPI, vol. 11(19), pages 1-24, September.
    2. Samantha Miles, 2017. "Stakeholder Theory Classification: A Theoretical and Empirical Evaluation of Definitions," Journal of Business Ethics, Springer, vol. 142(3), pages 437-459, May.
    3. Cairns, George & Goodwin, Paul & Wright, George, 2016. "A decision-analysis-based framework for analysing stakeholder behaviour in scenario planning," European Journal of Operational Research, Elsevier, vol. 249(3), pages 1050-1062.
    4. Ans Kolk & Paolo Perego, 2014. "Sustainable Bonuses: Sign of Corporate Responsibility or Window Dressing?," Journal of Business Ethics, Springer, vol. 119(1), pages 1-15, January.
    5. Víctor Meseguer-Sánchez & Emilio Abad-Segura & Luis Jesús Belmonte-Ureña & Valentín Molina-Moreno, 2020. "Examining the Research Evolution on the Socio-Economic and Environmental Dimensions on University Social Responsibility," IJERPH, MDPI, vol. 17(13), pages 1-30, July.
    6. Giovanni Ferri & Angelo Leogrande, 2015. "Was the Crisis due to a shift from stakeholder to shareholder finance? Surveying the debate," Mo.Fi.R. Working Papers 108, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.

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