Governing the Firm in the Social Interest: Corporate Governance Reimagined(Routledge Studies in Corporate Governance)

The corporate business enterprise is a core institution of capitalism. It holds immense political, economic, and cultural power in society. It mobilizes social and planetary resources to its utility in pursuit of private profit maximization and with little regard for social concerns. Its influence over so much of societal life and effects on the natural environment raise critical questions about the firm and its governance in democratic society. Various voices seek reforms of regulation and corporate governance practices to those shaped by the neoliberal policies persisting in the current decades. But prospects for amelioration within our current horizons of thinking appear elusive. This book contributes a distinctly social theoretical approach to the social problem of governing the firm. Its discussions complement debates in economics, politics, and law. Its critical social theorizations challenge conventional understandings of the firm and neoliberal legitimacies of its governance and posit alternatives. The book explores the social relations and moral fabric of the firm and the creativity of human action at work. It proposes a reimagined corporate governance premised on just recognition of that social vitality. It invites unprecedented collaboration for a robust participatory democracy for governing the firm and market action oriented to ecological and social sustainability.

Table of Contents:
Introduction Chapter 1. Private Corporate Power and Society Chapter 2. Contentions of Corporate Governance Chapter 3. A Moral Appeal Chapter 4. A Social Movement Chapter 5. The Social Life of Organization Chapter 6. The Social Voice Chapter 7. Corporate Governance Reimagined

About the Author :
Catherine Casey, Ph.D. University of Rochester, New York, is a sociologist and Professor of Organization and Society at Loughborough University, United Kingdom.

Review :
"This is nothing less than a monumental piece of social-scientific scholarship that simply must be read by anyone with a serious interest in corporate governance. Professor Catherine Casey is an outstanding scholar who is equally accomplished in dealing with insights from sociology, political philosophy, organisational theory, economics, management and the law. Here she brings this diverse body of perspectives together to build a compelling and urgent case for reform of long-established ways of thinking about the firm. Above all, this work demonstrates the inherent sociality and rich moral fabric of business organisations, in which work relations form a pivotal and definitive element.” Marc Moore, Chair in Corporate/Financial Law, UCL Faculty of Laws, University College London “Casey’s critique of the governance of the firm takes us far beyond current law or corporate social responsibility nostrums. This book offers a rich critique of “desocialization” in the neoliberal enterprise… Invoking a philosophical tradition running from Hegel to the Pragmatists, she offers a compelling and sophisticated theoretical argument for resocialization via the recognition of workers as the moral owners of the firm’s essential productive capacities. Casey’s call widens and deepens our democratic imaginary.” Paul S. Adler, Harold Quinton Chair of Business Policy, University of Southern California “Under modern corporate law, capital investors are the firm’s primary stakeholder. Casey proposes replacing investors with workers as the central stakeholder. This proposal goes far beyond the existing stakeholder view of organizations. People and their social connections, Casey argues, are the creators of value in the modern firm. Reimagining the firm around this contribution holds the potential to resolve a multitude of problems, from corporate political dominance to environmental degradation…Overall, the volume is a very high level and deep dive into the purpose of the corporation. It will be of interest to those seeking what is beyond the stakeholder view of the firm, but is not for the casual reader.” S. Gove, University of Vermont