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Shareholdership, Stakeholdership and the Modern Global Business Environment: A Survey of the Literature

Author

Listed:
  • Tony Ike Nwanji

    (Dr Nwanji is a Lecturer in Corporate Governance at Holborn College and Kingsbridge College in London.
    Holborn College Business School, Woolwich Road, London, SE7 8LN.)

  • Kerry E. Howell

    (University Of Plymouth, Faculty of Social Science and Business, Plymouth Business School, Cookworthy Building, Drake Circus, Plymouth, PL4 8QQ)

Abstract

This paper surveys literature relating to the Anglo-American model (shareholder theory) and stakeholder theory of corporate governance in the modern global business environment. Stakeholder theory emerged during the 1970–80s and suggested that corporations should look beyond the shareholder perspective of profit maximisation. Through a survey of the literature we examine why the traditional Anglo-American model of corporate governance had difficulties when dealing with certain unethical business practices of corporate boards. Overall, this study investigates whether an application of deontological and teleological ethical theories may illustrate how boards of directors could manage stakeholder issues and deal with problematic moral dilemmas and ethical decisions.

Suggested Citation

  • Tony Ike Nwanji & Kerry E. Howell, 2007. "Shareholdership, Stakeholdership and the Modern Global Business Environment: A Survey of the Literature," Journal of Interdisciplinary Economics, , vol. 18(4), pages 347-361, July.
    • Handle: RePEc:sae:jinter:v:18:y:2007:i:4:p:347-361
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