IDEAS home Printed from https://ideas.repec.org/p/pbs/ecofin/2020-09.html
   My bibliography  Save this paper

Implementing stakeholder participation as “egalitarian bidding” – The test of the Kantian pudding is in the institutionalized eating

Author

Listed:
  • Federica Alberti

    (University of Portsmouth)

  • Werner Güth

    (LUISS Guido Carli and Max Planck Institute for Research on Collective Goods)

  • Hartmut Kliemt

    (Justus-Liebig-Universitaet Giessen)

  • Kei Tsutsui

    (University of Bath)

Abstract

Stakeholder conceptions of corporate governance tend to address managers and owners of companies as benevolent despots who follow ethical appeals to respect all stakeholders equally. Avoiding the benevolent despot assumption we axiomatically specify how “stakeholder participation as ‘egalitarian bidding’ ” could conceivably be used to implement the values underlying stakeholder conceptions as procedures of corporate governance. We do not claim that stakeholder theorists have to concur with our proposed operationalization of their ideals. Yet those who do not accept participatory ‘egalitarian bidding’ should come up with some alternative operationalization of “equal (Kantian) respect” or admit that their theories are non-operational.

Suggested Citation

  • Federica Alberti & Werner Güth & Hartmut Kliemt & Kei Tsutsui, 2020. "Implementing stakeholder participation as “egalitarian bidding” – The test of the Kantian pudding is in the institutionalized eating," Working Papers in Economics & Finance 2020-09, University of Portsmouth, Portsmouth Business School, Economics and Finance Subject Group.
    • Handle: RePEc:pbs:ecofin:2020-09
    as

    Download full text from publisher

    File URL: http://repec.port.ac.uk/EconFinance/PBSEconFin_2020_09.pdf
    File Function: Full text
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Friedman, Milton, 2002. "Capitalism and Freedom," University of Chicago Press Economics Books, University of Chicago Press, number 9780226264219, Febrero.
    2. Alan Hamlin & Zofia Stemplowska, 2012. "Theory, Ideal Theory and the Theory of Ideals," Political Studies Review, Political Studies Association, vol. 10(1), pages 48-62, January.
    3. Friedman, Milton, 2002. "Capitalism and Freedom," University of Chicago Press Economics Books, University of Chicago Press, number 9780226264202.
    4. Federica Alberti & Werner Güth & Kei Tsutsui, 2020. "Experimental effects of institutionalizing co-determination by a procedurally fair bidding rule," Working Papers in Economics & Finance 2020-10, University of Portsmouth, Portsmouth Business School, Economics and Finance Subject Group.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Andrej Angelovski & Jordi Brandts & Werner Güth, 2020. "Bidding for the Better Jobs: An Experiment on Gender Differences in Competitiveness without a Real-Effort Task," Working Papers 1185, Barcelona School of Economics.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Felix Windegger & Clive L. Spash, 2021. "Reconceptualising Freedom in the 21st Century: Degrowth vs. Neoliberalism," SRE-Disc sre-disc-2021_02, Institute for Multilevel Governance and Development, Department of Socioeconomics, Vienna University of Economics and Business.
    2. Howard Stein, 2012. "The Neoliberal Policy Paradigm and the Great Recession," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 59(4), pages 421-440, September.
    3. Adam Martin & Matias Petersen, 2019. "Poverty Alleviation as an Economic Problem," Cambridge Journal of Economics, Oxford University Press, vol. 43(1), pages 205-221.
    4. Innset, Ola, 2023. "Dual Argument, Double Truth: On the continued importance of the state in neoliberal thought," SocArXiv kyvdm, Center for Open Science.
    5. Julia Rotter & Peppi-Emilia Airike & Cecilia Mark-Herbert, 2014. "Exploring Political Corporate Social Responsibility in Global Supply Chains," Journal of Business Ethics, Springer, vol. 125(4), pages 581-599, December.
    6. Potgieter, Petrus H., 2010. "Water and energy in South Africa – managing scarcity," MPRA Paper 23360, University Library of Munich, Germany.
    7. Kivisto, Hanna, 2016. "Capital as Power and the Corporatization of Education," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, pages 1-17.
    8. Daniel Levy & Avichai Snir, 2022. "Potterian economics," Oxford Open Economics, Oxford University Press, vol. 1, pages 1-32.
    9. Ulrike Reisach, 2016. "The creation of meaning and critical ethical reflection in operational research," EURO Journal on Decision Processes, Springer;EURO - The Association of European Operational Research Societies, vol. 4(1), pages 5-32, June.
    10. Qichun He & Meng Sun, 2018. "Does Fiscal Decentralization Increase the Investment Rate? Evidence from Chinese Panel Data," Annals of Economics and Finance, Society for AEF, vol. 19(1), pages 75-101, May.
    11. Marie-Laure Djelic, 2005. "How Capitalism Lost its Soul: From Protestant Ethics to Robber Barons," Sciences Po publications info:hdl:2441/5vh7udhojr9, Sciences Po.
    12. Robert Hahn & Robert Litan & Hal Singer, 2010. "Addressing the next wave of Internet regulation: Toward a workable principle for nondiscrimination," Regulation & Governance, John Wiley & Sons, vol. 4(3), pages 365-382, September.
    13. Klaus M. Leisinger, 2008. "Zur Relevanz der Unternehmensethik in der Betriebswirtschaftlehre (oder: The Business of Business is still Business–But the Rules have Changed)," Schmalenbach Journal of Business Research, Springer, vol. 60(58), pages 26-49, January.
    14. Åsbjørn Melkevik, 2016. "No progressive taxation without discrimination? On the generality of the law in the classical liberal tradition," Constitutional Political Economy, Springer, vol. 27(4), pages 418-434, December.
    15. Layman Daniel, 2012. "Locke on Basic Income," Basic Income Studies, De Gruyter, vol. 6(2), pages 1-12, January.
    16. Jose Luis Retolaza & Leire San-Jose, 2021. "Understanding Social Accounting Based on Evidence," SAGE Open, , vol. 11(2), pages 21582440211, April.
    17. Røpke, Inge, 2020. "Econ 101—In need of a sustainability transition," Ecological Economics, Elsevier, vol. 169(C).
    18. Chauffour, Jean-Pierre, 2011. "On the relevance of freedom and entitlement in development : new empirical evidence (1975-2007)," Policy Research Working Paper Series 5660, The World Bank.
    19. Jan-Erik Lane, 2010. "Development Without Freedom? East and South East Asia: Vibrant Markets but a Rule of Law Deficit," Asia Pacific Journal of Public Administration, Taylor & Francis Journals, vol. 32(2), pages 177-186, December.
    20. Mostafa E. Shahen & Shibly Shahrier & Koji Kotani, 2019. "Happiness, Generativity and Social Preferences in a Developing Country: A Possibility of Future Design," Sustainability, MDPI, vol. 11(19), pages 1-17, September.

    More about this item

    Keywords

    Stakeholder conceptions of management; interpersonal equal respect; corporate governance; intrinsic motivation; procedural fairness;
    All these keywords.

    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • J50 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - General

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pbs:ecofin:2020-09. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Shuonan Zhang (email available below). General contact details of provider: https://edirc.repec.org/data/depbsuk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.