ABSTRACT. Which is right? Corporate managers should promote the interest of stakeholders or they should do this for shareholders? I argue the latter because corporate managers get hired with the clear understanding that that is their job, the purpose of their office. Arguing against this assumes a perverse conception of property rights and should not be sanctioned by the legal system. pp. 7–13

Keywords: stakeholder theory; shareholder theory; corporate social responsibility; property rights; morality; professional responsibility capitalism; socialism

How to cite: Machan, Tibor R. (2017), “Stakeholder vs. Shareholder Debate: Some Skeptical Reflections,” Contemporary Readings in Law and Social Justice 9(1): 7–13.

Received 14 February 2016 • Received in revised form 29 February 2016
Accepted 29 February 2016 • Available online 15 March 2016


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Auburn University;
Argyros School of Business & Economics,
Chapman University, United States

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