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Nien-hê Hsieh

Chapter 5 by Nien-hê Hsieh examines managerial responsibility and develops an alternative to shareholder primacy. It criticizes the view that defines the responsibilities of managers merely in terms of constraints or negative moral duties (e.g., the duty not to harm). Rather, managers have the duty to do their jobs well, that is, to help realize important market-specific social values that are consistent with a minimal set of normative commitments. These values ground managerial responsibility to pursue specific ends and define the purpose of business. To illustrate this novel account of managerial responsibility, three examples examine opportunities for health, strengthening institutions, and lobbying and political activity.