English, Article, Journal or magazine article edition: Why stakeholder and stockholder theories are not necessarily contradictory: A knightian insight Velamuri, Rama; Venkataraman, Sankaran

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Bookmark: http://trove.nla.gov.au/version/170431
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Why stakeholder and stockholder theories are not necessarily contradictory: A knightian insight
Author
  • Velamuri, Rama
  • Venkataraman, Sankaran
Physical Description
  • preprint
Notes
  • The normative foundations of the investor centered model of corporate governance, represented in mainstream economics by the nexus-of-contracts view of the firm, have come under attack, mainly by proponents of normative stakeholder theory. We argue that the nexus-of-contracts view is static and limited due to its assumption of price-output certainty. We attempt a synthesis of the nexus-of-contracts and the Knightian views, which provides novel insights into the normative adequacy of the investor-centered firm. Implications for scholarship and management practice follow from our discussion.
  • Theory of the firm; corporate governance; entrepreneurship; business ethics; stakeholder theory;
  • RePEc:ebg:iesewp:d-0591
Language
  • English
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