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Stakeholders and the Moral Responsibilities of Business

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  • Langtry, Bruce

Abstract

This paper discusses the normative ethical theory of the business firm advanced principally by William E. Evan and R. Edward Freeman. According to their stakeholder theory, the firm should be managed for the benefit of its stakeholders: indeed, management has a fiduciary obligation to stakeholders to act as their agent. In this paper I seek to clarify the theory by discussing the concept of a stakeholder and by distinguishing stakeholder theory from two varieties of stockholder theory—I call them ‘pure’ and ‘tinged.’ I argue that the distinctive claims of stakeholder theory, as contrasted with tinged stockholder theories, have been inadequately supported by argument.

Suggested Citation

  • Langtry, Bruce, 1994. "Stakeholders and the Moral Responsibilities of Business," Business Ethics Quarterly, Cambridge University Press, vol. 4(4), pages 431-443, October.
    • Handle: RePEc:cup:buetqu:v:4:y:1994:i:04:p:431-443_01
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    Cited by:

    1. David Carassus & Khaled Albouaini & Marie Caussimont, 2013. "Une analyse de l'Audit Expectation Gap dans le contexte français," Post-Print hal-02432110, HAL.
    2. Yafet Yosafet Wilben Rissy, 2021. "The stakeholder model: its relevance, concept, and application in the Indonesian banking sector," Journal of Banking Regulation, Palgrave Macmillan, vol. 22(3), pages 219-231, September.
    3. Sefa Hayibor, 2017. "Is Fair Treatment Enough? Augmenting the Fairness-Based Perspective on Stakeholder Behaviour," Journal of Business Ethics, Springer, vol. 140(1), pages 43-64, January.
    4. Yves Fassin, 2010. "A Dynamic Perspective in Freeman’s Stakeholder Model," Journal of Business Ethics, Springer, vol. 96(1), pages 39-49, August.
    5. Bazlur RAHMAN, & Idris ALI, & Alexandru Mircea NEDELEA, 2017. "Greenwashing In Canadian Firms: An Assessment Of Environmental Claimsgreenwashing In Canadian Firms: An Assessment Of Environmental Claims," EcoForum, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration - Economy, Business Administration and Tourism Department., vol. 6(2), pages 1-8, july.
    6. 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.
    7. Yves Fassin, 2012. "Stakeholder Management, Reciprocity and Stakeholder Responsibility," Journal of Business Ethics, Springer, vol. 109(1), pages 83-96, August.
    8. Louis Ndjetcheu, 2012. "An African critical interpretation of the positive theory of accounting of Watts and Zimmerman (1978, 1980, 1986)," African Journal of Accounting, Auditing and Finance, Inderscience Enterprises Ltd, vol. 1(1), pages 25-39.
    9. Velamuri, Rama & Venkataraman, Sankaran, 2005. "Why stakeholder and stockholder theories are not necessarily contradictory: A knightian insight," IESE Research Papers D/591, IESE Business School.
    10. Samantha Miles, 2012. "Stakeholder: Essentially Contested or Just Confused?," Journal of Business Ethics, Springer, vol. 108(3), pages 285-298, July.
    11. Nicolae Al. Pop & Steluta Todea & Cristina-Veronica Partenie & Cristina Ott, 2020. "Stakeholders’ Perception Regarding Sustainable Universities," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 22(54), pages 330-330, April.
    12. Magdalena Suska, 2021. "Environmental Corporate Social Responsibility (ECSR) on the Example of Polish Champion Oil, Gas and Mining Companies," Sustainability, MDPI, vol. 13(11), pages 1-18, May.
    13. Y. Fassin, 2008. "The Stakeholder Model Refined," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 08/529, Ghent University, Faculty of Economics and Business Administration.
    14. Guillaume Plaisance, 2023. "Governing a union's external stakeholders: A prioritization method based on relationship quality and perceived impact," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 94(1), pages 75-108, March.
    15. Chokri Aloui & Khaïreddine Jebsi, 2022. "Does corporate social responsibility solve the chicken‐and‐egg problem for a two‐sided platform?," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(7), pages 3235-3256, October.
    16. Skip Worden, 2009. "A Genealogy of Business Ethics: A Nietzschean Perspective," Journal of Business Ethics, Springer, vol. 84(3), pages 427-456, February.
    17. Ankrah, Samuel & AL-Tabbaa, Omar, 2015. "Universities–industry collaboration: A systematic review," Scandinavian Journal of Management, Elsevier, vol. 31(3), pages 387-408.
    18. Miriam Pedol & Elena Biffi & Simone Melzi, 2021. "Sustainability game," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(5), pages 1540-1548, September.
    19. Md. Shajul Islam & Mohammad Rabiul Basher Rubel & Md. Mahedi Hasan, 2023. "Environmental and Social Performance of the Banking Industry in Bangladesh: Effect of Stakeholders’ Pressure and Green Practice Adoption," Sustainability, MDPI, vol. 15(11), pages 1-24, May.
    20. Mikko Manner, 2010. "The Impact of CEO Characteristics on Corporate Social Performance," Journal of Business Ethics, Springer, vol. 93(1), pages 53-72, June.

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