search query: @freeterm bioethics / total: 2
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| Author: | Hardwig, J. |
| Title: | The stockholder - a lesson for business ethics from bioethics? |
| Journal: | Journal of Business Ethics
2010 : FEB I, VOL. 91:3, p. 329-341 |
| Index terms: | stakeholders theories management |
| Freeterms: | stockholder values informed consent bioethics |
| Language: | eng |
| Abstract: | Most people have goals and values limiting their desire for medical treatments. Similarly, the view of the stockholder in business ethics is that the stockholder has only one interest, that is, profit. If stockholders have no other values or interests (herein as: v-and-i.) limiting their desire for additional profit, their sole interest is in profit maximization (as: p-max). But investors are real people with v-and-i. balancing and limiting their desire for profit. Institutional investors are supposed to serve the interests of individual investors. Stockholders hold many stakes in the firms in which they invest. The conclusion that most stockholders have interests that limiting the pursuit of p-max. has significant implications both for business ethics and for the management of for-profit companies. Something like "informed consent for investors" is needed. Corporate managers, to the extent their being agents of their stockholders, must not simply pursue p-max. They must ensure the v-and-i. of their investors that limit the single-minded pursuit of profit. |
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