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The Internal Morality of Contracting: Redeeming the Contractualist Endeavor in Business Ethics

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Author Info

  • J. van Oosterhout

    ()

  • Pursey P.M.A.R. Heugens

    ()

  • Muel Kaptein

    ()

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    Abstract

    Integrative Social Contracts Theory (ISCT) is arguably the most promising theory of business ethics to date, but it is often criticized for its inability to produce substantive norms. Rather than abandoning the contractualist endeavor in business ethics altogether, we undertake to redeem it by exploring the internal morality of contracting. We demonstrate that substantive norms for guiding and constraining business conduct can be produced without relying on sources of normality that are external to the contractualist framework.

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    File URL: http://www.uu.nl/faculty/leg/NL/organisatie/departementen/departementeconomie/onderzoek/publicaties/DParchive/2003/Documents/03-15.pdf
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    Bibliographic Info

    Paper provided by Utrecht School of Economics in its series Working Papers with number 03-15.

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    Length: pages
    Date of creation: Oct 2003
    Date of revision:
    Handle: RePEc:use:tkiwps:0315

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    Related research

    Keywords: Contractualism & contractarianism; Business ethics; Integrative social contracts theory; Internal morality; Institutional safeguards;

    References

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    1. Nooteboom, B. & Berger, H. & Noorderhaven, N.G., 1997. "Effects of trust and governance on relational risk," Open Access publications from Tilburg University urn:nbn:nl:ui:12-73834, Tilburg University.
    2. Donaldson, Thomas & Dunfee, Thomas W., 2002. "Ties that bind in business ethics: Social contracts and why they matter," Journal of Banking & Finance, Elsevier, vol. 26(9), pages 1853-1865, September.
    3. Robert H. Bates & Steven A. Block & Ghada Fayad & Anke Hoeffler, 2013. "The New Institutionalism and Africa," Journal of African Economies, Centre for the Study of African Economies (CSAE), vol. 22(4), pages 499-522, August.
    4. Shavell, Steven, 1984. "The Design of Contracts and Remedies for Breach," The Quarterly Journal of Economics, MIT Press, vol. 99(1), pages 121-48, February.
    5. A. Ben-Ner & Louis Putterman, 1997. "Values and Institutions in Economic Analysis," Working Papers 97-4, Brown University, Department of Economics.
    6. Williamson, Oliver E, 1983. "Credible Commitments: Using Hostages to Support Exchange," American Economic Review, American Economic Association, vol. 73(4), pages 519-40, September.
    7. Dye, Ronald A, 1986. "Proprietary and Nonproprietary Disclosures," The Journal of Business, University of Chicago Press, vol. 59(2), pages 331-66, April.
    8. Mooradian, Robert M, 1994. " The Effect of Bankruptcy Protection on Investment: Chapter 11 as a Screening Device," Journal of Finance, American Finance Association, vol. 49(4), pages 1403-30, September.
    9. Boatright, John R., 2002. "Contractors as stakeholders: Reconciling stakeholder theory with the nexus-of-contracts firm," Journal of Banking & Finance, Elsevier, vol. 26(9), pages 1837-1852, September.
    10. Armen A. Alchian & Harold Demsetz, 1971. "Production, Information Costs and Economic Organizations," UCLA Economics Working Papers 10A, UCLA Department of Economics.
    11. Solomon, Robert C., 2003. "A Better Way to Think About Business: How Personal Integrity Leads to Corporate Success," OUP Catalogue, Oxford University Press, number 9780195167337.
    12. Arrow, Kenneth J, 1985. "Informational Structure of the Firm," American Economic Review, American Economic Association, vol. 75(2), pages 303-07, May.
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    Cited by:
    1. Jerry Calton, 2006. "Social Contracting in a Pluralist Process of Moral Sense Making: A Dialogic Twist on the ISCT," Journal of Business Ethics, Springer, vol. 68(3), pages 329-346, October.

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