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Full-Text Articles in Business Law, Public Responsibility, and Ethics
Agency Theory And Bounded Self Interest: The Moderating Role Of Fairness, Robert Phillips, Douglas Bosse
Agency Theory And Bounded Self Interest: The Moderating Role Of Fairness, Robert Phillips, Douglas Bosse
Robert Phillips
While agency theory’s contributions to our understanding of economic organization and strategic management are unparalleled, reviews of the empirical tests call for more explanatory muscle at the extremes. This paper provides arguments that answer that call. Relying on well-established findings from social psychology and other disciplines, we propose that agency theory’s assumption of pure self-interest be replaced with the more descriptively accurate assumption of self interest that is bounded by norms of fairness and reciprocity. The resulting arguments explain that perceptions of fairness/justice moderate the effectiveness of incentive alignment and monitoring mechanisms.
Stakeholder Theory And Organizational Ethics, Robert Phillips
Stakeholder Theory And Organizational Ethics, Robert Phillips
Robert Phillips
No abstract provided.
Stakeholder Theory And A Principle Of Fairness, Robert Phillips
Stakeholder Theory And A Principle Of Fairness, Robert Phillips
Robert Phillips
Recent decades have witnessed an increase in the number and quality of discussions concerning the corporation’s obligations to other groups other than its share owners. Possibly the most frequent way framing such discussions is in terms of stakeholders. Hence stakeholder theory has become a central issue in the literature on business ethics / business and society. There has been, however, relatively little attention given to the source of these obligations that a firm has to its stakeholders. Many students of stakeholder theory are content to assert such obligations and move on to what they believe the substance of these obligations …