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Ethics and Incentives: An Evaluation and Development of Stakeholder Theory in the Health Care Industry

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  • Elms, Heather
  • Berman, Shawn
  • Wicks, Andrew C.

Abstract

This paper utilizes a qualitative case study of the health care industry and a recent legal case to demonstrate that stakeholder theory’s focus on ethics, without recognition of the effects of incentives, severely limits the theory’s ability to provide managerial direction and explain managerial behavior. While ethics provide a basis for stakeholder prioritization, incentives influence whether managerial action is consistent with that prioritization. Our health care examples highlight this and other limitations of stakeholder theory and demonstrate the explanatory and directive power added by the inclusion of the interactive effects of ethics and incentives in stakeholder ordering.

Suggested Citation

  • Elms, Heather & Berman, Shawn & Wicks, Andrew C., 2002. "Ethics and Incentives: An Evaluation and Development of Stakeholder Theory in the Health Care Industry," Business Ethics Quarterly, Cambridge University Press, vol. 12(4), pages 413-432, October.
    • Handle: RePEc:cup:buetqu:v:12:y:2002:i:04:p:413-432_00
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    1. repec:dau:papers:123456789/1059 is not listed on IDEAS
    2. Obey Dzomonda & Olawale Fatoki, 2017. "The Impact of Ethical Practices on the Performance of Small and Medium Enterprises in South Africa," Journal of Economics and Behavioral Studies, AMH International, vol. 9(5), pages 209-218.
    3. Xue Yang & Yuandi Wang & Die Hu & Yongqiang Gao, 2018. "How industry peers improve your sustainable development? The role of listed firms in environmental strategies," Business Strategy and the Environment, Wiley Blackwell, vol. 27(8), pages 1313-1333, December.
    4. Suman Sen & James Cowley, 2013. "The Relevance of Stakeholder Theory and Social Capital Theory in the Context of CSR in SMEs: An Australian Perspective," Journal of Business Ethics, Springer, vol. 118(2), pages 413-427, December.

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