Journal of Business Ethics 10 (11):833 - 840 (1991)

Although previous ethical analyses of management buyouts have presented useful insights, they have been flawed in three major ways. First, they define the transaction too narrowly, emphasizing the going private aspect and ignoring the leveraged aspect. Leveraging alters the nature of the transaction substantially and warrants additional ethical analysis. Second, these previous analyses ignore the impact of buyouts on non-stockholder constituents of the firm, an omission which renders their implicit utilitarian approach incomplete. Third, these analyses do not include Rawlsian, libertarian, or Kantian perspectives on ethics. This paper addresses these shortcomings and finds the ethical status of leveraged management buyouts to be highly suspect.
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DOI 10.1007/BF00383699
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References found in this work BETA

Anarchy, State, and Utopia.Robert Nozick - 1974 - New York: Basic Books.
The Ethics of Going Private.Douglas A. Houston & John S. Howe - 1987 - Journal of Business Ethics 6 (7):519 - 525.

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In Search of Ethical Profits: Insights From Strategic Management.Grant Miles - 1993 - Journal of Business Ethics 12 (3):219 - 225.

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