Towards a More ‘Ethically Correct’ Governance for Economic Sustainability

Christos Pitelis

Journal of Business Ethics, 2013, vol. 118, issue 3, 655-665

Abstract: In this paper, we propose that economic sustainability is seen in terms of (inter-temporal and inter-national) value creation. We claim that value appropriation (or capture), can become a constraint to economic sustainability. We propose that for sustainable value creation to be fostered, corporate governance needs to be aligned to public and supra-national governance. In order to achieve this, a hierarchically layered set of ‘agencies’, needs to be diagnosed and the issue of incentive alignment addressed. Enlightened self-interest, pluralism and diversity, as well as a representative supra-national organisation for world-wide economic sustainability can serve as a new, more ‘ethically correct’ governance for economic sustainability, but not a panacea. Copyright Springer Science+Business Media Dordrecht 2013

Keywords: Governance; Economic sustainability; Agency; Value creation and capture (search for similar items in EconPapers)
Date: 2013
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DOI: 10.1007/s10551-012-1616-8

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