Activist business ethics

This book asks the question, how could we convince or compel modern business to apply ethical standards and is it essential to the success of economy? In order to answer the question, this book examines the evolution of the activist business ethics in business, in democracies, Christianity, Judaism, Islam, Buddhism, in philosophy, psychology and psychoanalysis. The book examines international aspects, the personification of stakeholders, the predominance of values and ethics for CEOs and the inefficient safeguards of the stakeholders' interests.

This book asks the question, how could we convince or compel modern business to apply ethical standards and is it essential to the success of economy? In order to answer the question, this book examines the evolution of the activist business ethics in business, in democracies, Christianity, Judaism, Islam, Buddhism, in philosophy, psychology and psychoanalysis. The book examines international aspects, the personification of stakeholders, the predominance of values and ethics for CEOs and the inefficient safeguards of the stakeholders' interests.

This monograph is based on qualitative and inductive research. All the cases treated in it are based on current events and try to find the common aspects and basic rules that govern the wrongdoing to the minority shareholders. In the four cases of US, French and Israeli companies, most of them in high tech, the minority shareholders lose almost all their investment

Jacques Cory's second book Activist Business Ethics expands upon the theoretical concepts developed in his first book Business Ethics: The Ethical Revolution of Minority Shareholders published by Kluwer Academic Publishers in March 2001. Activist business ethics is needed in order to remedy the wrongdoing committed to stakeholders and minority shareholders. This will be achieved by cooperation between ethical businessmen, activist academics, stakeholders and minority shareholders. We should treat others as we would want others to treat us, not through interest, but by conviction. Yet this principle is not the guideline of many companies in the modern business world, despite the fact that most religions and philosophers have advocated it in the last 3,000 years. How can we convince or compel modern business to apply this principle? And is it essential to the success of economy? In order to answer these questions this book examines the evolution of activist business ethics in business, in democracies, in Christianity, Judaism, Islam, Buddhism, in philosophy and psychology. The book examines international aspects, the personification of stakeholders, the predominance of values and ethics for CEOs and the inefficient safeguards of the stakeholders' interests. The book presents new vehicles for the safeguard of those interests, such as the Internet, Transparency, Ethical Funds and Activist Associations, and future activist vehicles, such as the Supervision Board and the Institute of Ethics. Today everybody is a stakeholder and a minority shareholder of a company, directly or through our pension funds, or as a client, a supplier, a member of a community and a citizen. The principal premise of the book is, therefore, that ultimately the wrongdoers act against themselves. The book is woven with many references on ethics and business ethics from the professional and classic world literature, the Bible and other religious texts, poetry, maxims, and folk tales; showing that ethical problems are similar throughout the ages and cultures, but some of the solutions given in this book are new and original. Activist Business Ethics is primarily intended for the academic market and is particularly appropriate for academics in business administration, ethics and finance. It should also appeal strongly to the professional business/finance market, and to stakeholders and minority shareholders as well, who are aware of the wrongdoing committed to them and who want to remedy the ...

1. Introduction -- 2. The Inefficient Safeguards of the Minority Shareholders -- 3. The Attitude of Society -- 4. The Excessive Privileges of the Majority Shareholders -- 5. Internet and Transparency as Ethical Vehicles -- 6. Ethical Funds -- 7. Activist Associations, 'Transparency International', 'Adam' -- 8. Case Study of the French Company Loskron -- 9. Case Study of the Israeli/American Company Furolias -- 10. Case Study of the Israeli Companies Erinsar and Soktow -- 11. Case Study of the American Company Mastoss -- 12. Class Actions -- 13. 36 Laws of Wrongdoing to Minority Shareholders in Unethical Companies -- 14. Conclusion.