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Corporate governance with a difference: fiduciary duty for a wisdom economy

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  • Laurent Leduc

Abstract

Fiduciary duty is not restricted merely to the property of shareholders but includes ethical obligations to a wider constituency – stakeholders – in terms of power. Several approaches to corporate social responsibility (CSR) are considered in terms of their respective orientations to the external world. Robert Greenleaf's notion of "service to others" or "servant-leadership" is considered as a case of the fifth level approach to CSR. An historical perspective offers a precedent for reclaiming corporate charter grants as a means for reinstating the corporation's responsibilities to the wider community. Two propositions are offered to help us revision corporations in ways that would enable their total service obligations to all constituencies.

Suggested Citation

  • Laurent Leduc, 2004. "Corporate governance with a difference: fiduciary duty for a wisdom economy," International Journal of Business Governance and Ethics, Inderscience Enterprises Ltd, vol. 1(2/3), pages 147-161.
    • Handle: RePEc:ids:ijbget:v:1:y:2004:i:2/3:p:147-161
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    Cited by:

    1. Helen LaVan & Lori S. Cook & Ivana Zilic, 2021. "An analysis of the ethical frameworks and financial outcomes of corporate social responsibility and business press reporting of US pharmaceutical companies," International Journal of Business Governance and Ethics, Inderscience Enterprises Ltd, vol. 15(3), pages 326-355.

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