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Corporate Social Responsibility and the Role of Managers. An Update of Friedmand´s Ideas

WPnull/14 Corporate Social Responsibility and the Role of Managers. An Update of Friedmand´s Ideas
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Abstract
Friedman has been traditionally interpreted as the exponent of the shareholder theory. According to this theory, among the various actors associated with a business, shareholders have unrivaled primacy, and hence, corporations should be managed so as to maximize their value alone, within certain limits. However, by framing these ideas in his libertarian philosophy, we present a more accurate interpretation, especially of the clauses limiting the managers' actions. This interpretation, together with the developments in the concepts of profit, property, and the role playing by the corporate culture, legitimates the inclusion of social responsibility into the managers' agenda, even in the shareholder model.

Number of Pages:17

Creation Date:2014-03-01

Number:null/14

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Raúl Bajo

Raúl Bajo

Campus Universitario

31009 Pamplona, España

+34 948 42 56 00

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