2015, Nathan, Ganesh, Coutinho de Arruda, Maria Cecilia, Rok, Boleslaw

This paper attempts to provide some directions for re-theorizing the firm from a socio-political perspective to underscore how the purpose of the firm is rooted in our societal life, and hence a notion of well-being and social justice of stakeholders gains significance rather than wealth creation for shareholders as the sole purpose of the firm. This paper concludes that such an approach has some implications for responsible governance through stakeholder deliberation for social justice.

2012-07, Nathan, Ganesh

This paper attempts to re-theorize the firm from a socio-political perspective to show that a firm is not only an economic, but also a social and a political actor. Given the multiple global crises, our traditional understanding of the purpose of the firm – the maximization of shareholder value – is increasingly being challenged. This paper shows that the purpose of the firm is rooted in our social life, and hence a notion of well-being and social justice gains significance rather than wealth creation to underscore the role of responsible governance for sustainability in many dimensions – economic, social and environmental. It concludes that the purpose of the firm should go beyond profit maximization of shareholders in pursuit of well-being of stakeholders and in deliberating global social justice for a sustainable world order.