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Stakeholder Theory and “The Corporate Objective Revisited”: A Reply

Author

Listed:
  • Anant K. Sundaram

    (Thunderbird, The Garvin School of International Management, 15249 North 59th Avenue, Glendale, Arizona 85306)

  • Andrew C. Inkpen

    (Thunderbird, The Garvin School of International Management, 15249 North 59th Avenue, Glendale, Arizona 85306)

Abstract

Freeman et al. (2004) offer a spirited rebuttal to our paper “The Corporate Objective Revisited” from the perspective of stakeholder theory. However, they fall short in making a case against the logic of shareholder value maximization. The authors confound issues of “value” and “values,” ignore the rich history of scholarship on related questions, and perhaps misinterpret some of our core arguments. Most importantly, proponents of stakeholder views such as Freeman et al. appear to be unable to go beyond critiques of the shareholder view by failing to offer an empirically supportable alternative theory.

Suggested Citation

  • Anant K. Sundaram & Andrew C. Inkpen, 2004. "Stakeholder Theory and “The Corporate Objective Revisited”: A Reply," Organization Science, INFORMS, vol. 15(3), pages 370-371, June.
    • Handle: RePEc:inm:ororsc:v:15:y:2004:i:3:p:370-371
    DOI: 10.1287/orsc.1040.0067
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