pisco_log
banner

The Divorce of Ownership from Control and Stakeholders

Junyan Xue

Abstract


It is said that within a company, shareholders are after profit making while managers are after their own interests. Also, corporations are said to have stakeholders other than shareholders and managers that are affected by the actions they take, though not owning or employed by them. It will be discussed in this essay that whether the statement is accurate.


Keywords


Ownership and Control; Stakeholders; Corporate Governance

Full Text:

PDF

References


Ambler, T., & Wilson, A. (1995). Problems of stakeholder theory. Business Ethics: A European Review, 4(1), 30-35.

Berle, A.A. and Means, G.C. (1932) The Modern Corporation and Private Property. 2nd edn (1967). New York: Harcourt, Brace and World.

Boatright, J. R. (2002). Contractors as stakeholders: Reconciling stakeholder theory with the nexus-of-contracts firm. Journal of Banking & Finance, 26(9), 1837-1852.

Bøhren, Ø. (1998). The agent's ethics in the principal-agent model. Journal of Business Ethics, 17(7), 745-755.

Friedman, M. (1970) ‘The social responsibility of business is to increase its profits’, New York Times Magazine (September 13, 1970).

Froud, J., Haslam, C., Johal, S., Shaoul, J., & Williams, K. (1996). Stakeholder economy? From utility privatisation to new labour. Capital & Class, 20(3), 119-134.

Hannah, L. (2007). The ‘divorce’ of ownership from control from 1900 onwards: Re-calibrating imagined global trends. Business History, 49(4), 404-438.

Hornby, W. (1994) The Theory of the firm revisited: a Scottish perspective. Aberdeen: Aberdeen Business School.

Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of financial economics, 3(4), 305-360.

Marris, R. (1963) ‘A Model of Managerial Enterprise’, Quarterly Journal of Economics 77, pp. 185.

O'Connell, M., & Kung, M. C. (2007). The Cost of Employee Turnover. Industrial Management, 49(1).

Reinhardt, F. L., Stavins, R. N., & Vietor, R. H. (2008). Corporate social responsibility through an economic lens. Review of Environmental Economics and Policy, Volume 2, Issue 2, Summer 2008, Pages 219–239.

Satariano, A., & Burrows, P. (2011). Apple’s supply-chain secret? Hoard lasers. Technology, 4(50).

Shaked, A., & Sutton, J. (1982). Relaxing price competition through product differentiation. The review of economic studies, 3-13.

Sloman, J., Garratt, D., Guest, J., & Jones, E. (2016). Economics for business. Pearson Education.




DOI: http://dx.doi.org/10.18282/ff.v11i1.2768

Refbacks

  • There are currently no refbacks.