Stakeholder theory: Toward a classical institutional economics perspective

Artikel

Stakeholder theorists have traditionally objected to the neoclassical conception of the firm as a vehicle for maximizing profit or shareholder wealth, thus opening up space for controversial engagement with neoclassical economics. The present paper fills some of this space by elaborating the parallels between stakeholder theory and classical institutional economics, a heterodox school of economic thought that has long been critical of a broad range of neoclassical ideas. Rooted in the writings of Veblen and Commons, classical institutional economics explores how the social provisioning process is coordinated or hindered by real-world business institutions. From this standpoint, stakeholder theory highlights the possibility of overcoming the institutionally ingrained conflicts and trade-offs for the sake of realizing common human interests in organizing the social provisioning process in an orderly and reasonable way. This argument not only illuminates the relationship of stakeholder theory to the wider societal context of modern capitalist economies but also elaborates novel aspects of the moral nature of stakeholder management.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Journal: Journal of Business Ethics ; ISSN: 1573-0697 ; Volume: 188 ; Year: 2023 ; Issue: 1 ; Pages: 75-88 ; Berlin: Springer Nature

Klassifikation und Themen

• Klassifikation: Wirtschaft
• Thema: stakeholder theory ; classical institutional economics ; social provisioning process

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Valentinov, Vladislav
• Ereignis: Veröffentlichung
• (wer): Springer Nature
• (wo): Berlin
• (wann): 2023

Weitere Informationen

• DOI: doi:10.1007/s10551-022-05304-w
• Handle: http://hdl.handle.net/10419/279492
• Letzte Aktualisierung: 10.03.2025, 11:45 MEZ