Stakeholder Theory: 25 Years Later

Philosophy of Management 8 (3):97-107 (2009)
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Abstract

The purpose of this paper is to suggest that at least one strain of what has come to be called “stakeholder theory” has roots that are deeply libertarian. We begin by explicating both “stakeholder theory” and “libertarian arguments.” We show how there are libertarian arguments for both instrumental and normative stakeholder theory, and we construct a version of capitalism, called “stakeholder capitalism,” that builds on these libertarian ideas. We argue throughout that strong notions of “freedom” and “voluntary action” are the best possible underpinnings for stakeholder theory, and in doing so, seek to return “stakeholder theory” to its managerial and libertarian roots found in Freeman

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Robert Edward Freeman
University of Virginia

Citations of this work

Globalizing Democracy and Human Rights.Carol C. Gould - 2004 - Cambridge, UK: Cambridge University Press.
Participating in the Common Good of the Firm.Alejo José G. Sison & Joan Fontrodona - 2013 - Journal of Business Ethics 113 (4):611-625.
A life cycle model of multi-stakeholder networks.Julia Roloff - 2008 - Business Ethics, the Environment and Responsibility 17 (3):311–325.
In defense of a regulated market economy.Jukka Mäkinen & Eero Kasanen - 2015 - Journal of Global Ethics 11 (1):99-109.

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