search query: @author Stovall, O.S. / total: 3
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| Author: | Stovall, O.S. Neill, J.D. Perkins, D. |
| Title: | Corporate governance, internal decision making, and the Invisible Hand |
| Journal: | Journal of Business Ethics
2004 : MAY, VOL. 51:2, p. 221-227 |
| Index terms: | Corporate governance Decision making Stakeholders Shareholders |
| Language: | eng |
| Abstract: | There is Adam Smith's notion of the Invisible Hand (henceforth as: I.H.) This article argues that the traditional interpretation of Smith is too narrow and potentially harmful to society. In order to fully understand Smith's notion of the influence of the I.H. on human behaviour, one must also consider The Theory of Moral Sentiments. ... A broader, multiple stakeholder approach to corporate governance (hereafter as: c/g.) considering the interests of other constituencies may be more consistent with Smith's views. In particular, Smith's sympathy principle provides a theoretical foundation for a shift away from the narrow, yet dominant, shareholder-based c/g. model and toward multiple stakeholder models of c/g. |
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