Description:
Research Question/Issue: This paper frames the debate on corporate governance convergence in terms of the morality underlying corporate governance models. The claims and arguments of moral relativism are presented to provide theoretical structure to the moral aspects of corporate governance convergence, and ultimately the normative question of whether convergence should occur. Research Findings/Results: The morality underlying different models of corporate governance has largely been ignored in the corporate governance convergence literature. A range of moral philosophies and principles that underlie the dominant corporate governance models are identified. This leads to a consideration of the claims and arguments of moral relativism relating to corporate governance. A research agenda around the claims of descriptive and meta-ethical moral relativism, and which ultimately informs the associated normative argument, is then suggested. Theoretical Implications: The application of moral relativism to the debate on corporate governance convergence presents a theoretical structure to the analysis and consideration of its moral aspects. This structure lends itself to further research, both empirical and conceptual. Practical Implications: The claims and arguments of moral relativism provide a means of analyzing calls that are made for a culturally or nationally “appropriate” model of corporate governance. This can assist in providing direction for corporate governance reforms and is of particular relevance for developing countries that have inherited Western corporate governance models through colonialism.
Description:
A wide range of decision-making models have been offered to assist in making ethical decisions in the workplace. Those that are based on normative moral frameworks typically include elements of traditional moral philosophy such as consequentialist and/or deontological␣ethics. This paper suggests an alternative model drawing on Jean-Paul Sartre’s existentialism. Accordingly, the model focuses on making decisions in full awareness of one’s freedom and responsibility. The steps of the model are intended to encourage reflection of one’s projects and one’s situation and the possibility of refusing the expectations of others. A case study involving affirmative action in South Africa is used to demonstrate the workings of the model and a number of strengths and weaknesses are identified. Despite several weaknesses that can be raised regarding existential ethics, the model’s success lies in the way that it reframes ethical dilemmas in terms of individual freedom and responsibility, and in its acceptance and analysis of subjective experiences and personal situations.
Description:
The question of whether or not Southern African countries should adopt a shareholder, a stakeholder, or another approach to corporate governance is relevant both to debates on corporate governance convergence, and the development of the region. Such normative arguments, however, are predicated upon some descriptive understanding. This paper investigates the claims of descriptive moral relativism, that there are differences in moral judgements between individuals/groups, by comparing the beliefs put forward by a group of black Southern African professional accounting students regarding the obligations and objectives of corporations to the underlying morality of the Anglo-American model of corporate governance. While differences were identified with the traditional theoretical Anglo-American model of corporate governance in which social responsibilities are limited or denied, fewer differences were evident when considering a more moderate Anglo-American model in which stakeholder concerns are considered. The relationship of a corporation with its community remains a possible area of difference.
Description:
The question of whether or not Southern African countries should adopt a shareholder, a stakeholder, or another approach to corporate governance is relevant both to debates on corporate governance convergence, and the development of the region. Such normative arguments, however, are predicated upon some descriptive understanding. This paper investigates the claims of descriptive moral relativism, that there are differences in moral judgements between individuals/groups, by comparing the beliefs put forward by a group of black Southern African professional accounting students regarding the obligations and objectives of corporations to the underlying morality of the Anglo-American model of corporate governance. While differences were identified with the traditional theoretical Anglo-American model of corporate governance in which social responsibilities are limited or denied, fewer differences were evident when considering a more moderate Anglo-American model in which stakeholder concerns are considered. The relationship of a corporation with its community remains a possible area of difference.