Social Goals in the Theory of the Firm
A Systems Theory View
Bibliographic Data
| ID | 11104014 |
|---|---|
| Authors | Vladislav Valentinov (0000-0002-4247-0364, Leibniz Institute of Agricultural Development in Transition Economics, Halle (Saale), Germany), Steffen Roth (0000-0002-8502-601X, Excelia Group, La Rochelle Business School, France, corresponding author), Ingo Pies (0000-0003-2068-4529, Martin-Luther-Universität of Halle-Wittenberg, Germany) |
| Year | 2021 |
| Volume | 53 |
| Issue | 2 |
| Pages | 273-304 |
| Publication date | 2021-02-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Administration & Society (JOURNAL) |
| Journal identifiers | ISSN: 0095-3997 • E-ISSN: 1552-3039 |
| Publisher | SAGE Publications (PUBLISHER • US) |
| DOI | 10.1177/0095399720933826 |
| OpenAlex | W3037256258 |
| Language | EN |
| Citations received | 9 |
| References cited | 89 |
Drawing on Luhmannian social systems theory, this article revisits the single- versus multiple-objective debate on the theory of the firm. Firms are conceptualized as complexity reducing systems structurally coupled with potentially risky environments, and profit maximization is considered as a complexity reduction strategy for making sense of these environments. Whereas single-objective approaches reflect cases when environmental risks do not materialize into corporate sustainability problems, multiple-objective approaches address these problems by increasing the corporation’s environmental responsiveness beyond the profit maximization function. Our systems-theoretic framework therefore identifies the common ground between the two approaches and draws attention to the circumstances under which they can claim validity
Business · Corporation · Economics · Environmental economics · Management science · Maximization · Microeconomics · Positive economics · Profit (economics · Profit maximization · Risk analysis (engineering · Sustainability · Systems theory · Theory of the firm · Computer Science · Corporate Social Responsibility and Sustainability · Experimental Behavioral Economics Studies · Management and Organizational Studies
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| Unique citing works | 9 |
|---|---|
| Citations per year | 2,25 |
| Citation span | 2022 - 2026 (5) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 9 |