E-Mich - "The stakeholder corporation and social welfare"

Mardi intime de la Chaire Hoover par Marc Fleurbaey The stakeholder firm is defined as one that maximizes the (weighted or unweighted) sum of surpluses of its customers and suppliers (including workers). It is shown that, although this objective is hard to empirically measure, it can be pursued by simple management rules that rely on constrained profit maximization.