Stakeholder theory and "The corporate objective revisited"

A reply

Anant K. Sundaram, Andrew Inkpen

    Research output: Contribution to journalArticle

    43 Citations (Scopus)

    Abstract

    Freeman et al. (2004) offer a spirited rebuttal to our paper "The Corporate Objective Revisited" from the perspective of stakeholder theory. However, they fall short in making a case against the logic of shareholder value maximization. The authors confound issues of "value" and "values," ignore the rich history of scholarship on related questions, and perhaps misinterpret some of our core arguments. Most importantly, proponents of stakeholder views such as Freeman et al. appear to be unable to go beyond critiques of the shareholder view by failing to offer an empirically supportable alternative theory.

    Original languageEnglish (US)
    JournalOrganization Science
    Volume15
    Issue number3
    StatePublished - May 2004

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    Shareholders
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    Stakeholder theory
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    Shareholder value
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    Keywords

    • Corporate goal
    • Corporate governance
    • Shareholder value
    • Stakeholder theory

    ASJC Scopus subject areas

    • Management of Technology and Innovation
    • Strategy and Management
    • Organizational Behavior and Human Resource Management

    Cite this

    Stakeholder theory and "The corporate objective revisited" : A reply. / Sundaram, Anant K.; Inkpen, Andrew.

    In: Organization Science, Vol. 15, No. 3, 05.2004.

    Research output: Contribution to journalArticle

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