Going Political? Towards Deliberative Corporate Governance

Forthcoming, Journal of Management and Governance

25 Pages Posted: 8 Jul 2019

Date Written: July 14, 2018

Abstract

Current challenges in corporate governance increasingly require a deeper appreciation for the political nature of corporation, and most likely a reflection on the assumptions behind dominant governance practices. This article suggests that the emerging theoretical models in economics and finance, which clearly recognize the role of all stakeholders, are limited by their narrow conception of politics as voting. Building on an historical survey of corporate governance models, and on the literature on deliberative democracy and political corporate social responsibility, I suggest that a deliberative corporate governance approach would help design better governance practices. I illustrate this idea with a case of shareholder engagement and conclude with the implications for other governance practices.

Keywords: Corporate Governance,Theory of the Firm, Deliberative Democracy, Deliberative Governance, Shareholder Engagement, Corporate Social Responsibility

JEL Classification: M14, G32, G34

Suggested Citation

Ferraro, Fabrizio, Going Political? Towards Deliberative Corporate Governance (July 14, 2018). Forthcoming, Journal of Management and Governance, Available at SSRN: https://ssrn.com/abstract=3414857 or http://dx.doi.org/10.2139/ssrn.3414857

Fabrizio Ferraro (Contact Author)

IESE Business School ( email )

AV.da Pearson 21
Barcelona, 08034
Spain
932534200 (Phone)

HOME PAGE: http://https://blog.iese.edu/ferraro/

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