Implementing stakeholder participation as “egalitarian bidding”: the test of the Kantian pudding is in the institutionalized eating

Federica Alberti, Hartmut Kliemt, Werner Guth, Kei Tsutsui

Research output: Working paper

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Abstract

Stakeholder conceptions of corporate governance tend to address managers and owners of companies as benevolent despots who follow ethical appeals to respect all stakeholders equally. Avoiding the benevolent despot assumption we axiomatically specify how “stakeholder participation as ‘egalitarian bidding’ ” could conceivably be used to implement the values underlying stakeholder conceptions as procedures of corporate governance. We do not claim that stakeholder theorists have to concur with our proposed operationalization of their ideals. Yet those who do not accept participatory ‘egalitarian bidding’ should come up with some alternative operationalization of “equal (Kantian) respect” or admit that their theories are non-operational.
Original languageEnglish
PublisherUniversity of Portsmouth
Number of pages24
Publication statusPublished - 1 Sep 2020

Publication series

NameWorking Papers in Economics and Finance
PublisherUniversity of Portsmouth

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