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Summary

Chapter 4 explores the normative foundations of corporate governing by addressing four central questions: whether there is a business case for it, whether it is strategically sound, whether it benefits social activists and society, and whether it poses risks to democracy. The analysis suggests that corporate governing may enhance firm value, depending on factors like authenticity, stakeholder alignment, and market context. Strategically, it is a voluntary choice, often undertaken with risk assessments in place, though not immune to backlash. While some firms benefit, others may falter, but absent clear evidence of systemic harm, business-based objections are difficult to sustain. The chapter then considers whether corporate governing serves broader social goals. Activists are capable of evaluating the risks of collaboration, and the societal impact should be judged pragmatically, based on outcomes. Finally, the chapter addresses the political dimension – specifically, the democratic risks of delegating public functions to private actors with limited accountability.

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4 - Normative Foundations for Assessing Corporate Governing

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4 - Normative Foundations for Assessing Corporate Governing

Summary