The Theory of Firm, Management and Stakeholders: An Islamic Scenario Perspective

Islamic Economics Studies, Vol. 15, No. 1, pp. 1-30, 2007

30 Pages Posted: 7 Jan 2011

See all articles by Mehmet Asutay

Mehmet Asutay

Durham Business School

Toseef Azid

Bahauddin Zakariya University

Umar Burki

Høgskolen i Molde

Date Written: 2007

Abstract

This paper explores the impact of the behaviour of a firm and its management on its stakeholders operating within the framework of Islamic law and morality and draws a sketch of a socially responsible enterprise which Islam idealizes in the domain of business and trade. The study suggests that endogenoising the ethical cum economic dimensions will enhance the efficiency level of the economy, and will also increase social welfare level.

Suggested Citation

Asutay, Mehmet and Azid, Toseef and Burki, Umar, The Theory of Firm, Management and Stakeholders: An Islamic Scenario Perspective (2007). Islamic Economics Studies, Vol. 15, No. 1, pp. 1-30, 2007. Available at SSRN: https://ssrn.com/abstract=1735648

Mehmet Asutay (Contact Author)

Durham Business School ( email )

Mill Hill Lane
Durham, Durham DH1 3LB
United Kingdom

Toseef Azid

Bahauddin Zakariya University ( email )

Multan, Punjab
Pakistan
+92-61-9210054 (Phone)
+92-61-9210068 (Fax)

Umar Burki

Høgskolen i Molde

Molde NO-6405
Norway

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