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If Fairness is the Problem, Is Consent the Solution? Integrating ISCT and Stakeholder Theory

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  • Van Buren, Harry J.

Abstract

Work on stakeholder theory has proceeded on a variety of fronts; as Donaldson and Preston (1995) have noted, such work can be parsed into descriptive, instrumental, and normative research streams. In a normative vein, Phillips (1997) has made an argument for a principle of fairness as a means of identifying and adjudicating among stakeholders. In this essay, I propose that a reconstructed principle of fairness can be combined with the idea of consent as outlined in integrative social contract theory (ISCT) to bring about a more normative stakeholder theory that also has ramifications for corporate governance.

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  • Van Buren, Harry J., 2001. "If Fairness is the Problem, Is Consent the Solution? Integrating ISCT and Stakeholder Theory," Business Ethics Quarterly, Cambridge University Press, vol. 11(3), pages 481-499, July.
    • Handle: RePEc:cup:buetqu:v:11:y:2001:i:03:p:481-499_00
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