@article{138b2566957f4d148ec9cf2dc556ffce,
title = "Corporate Personhood and Fiduciary Duties as Critical Constructs in Developing Stakeholder Management Theory and Corporate Purpose",
abstract = "This article considers the complex process of economic value creation in joint production in which a corporation is viewed as more than a nexus of contracts for four reasons related to the interdependent functions of the corporate personhood concept of the corporation as a separate legal entity. Corporate personhood facilitates stewardship and stakeholder management, which can encourage firm-specific investments, reduce shirking, and attenuate rent seeking to provide economic value. The corporate personhood approach illuminates multidimensional constructs for the governance of a corporation at the board level to embody fiduciary duties and corporate purpose, which is much richer than the nexus of contract view.",
keywords = "corporate personhood, governance, joint value creation, corporate purpose, stakeholder management, fiduciary duties, institutional logics",
author = "Mahoney, {Joseph T}",
year = "2023",
month = jul,
doi = "10.1287/stsc.2023.0191",
language = "English (US)",
volume = "8",
pages = "212--220",
journal = "Strategy Science",
issn = "2333-2050",
publisher = "INFORMS Institute for Operations Research and the Management Sciences",
number = "2",
}