The invisible-hand argument against broadening corporate responsibility says that business's appetite for profit should be controlled by the hand of the government.

A common point of contention among philosophers and business theorists with regard to corporations is

The first corporations

Corporations are limited-liability companies which means that

In the corporate world, the board of directors will frequently

The courts and the general public typically find the idea of corporate responsibility

Legally a corporation is a thing that can endure beyond the natural lives of its members and that has incorporators who may sue and be sued as a unit and who are able to consign part of their property to the corporation for ventures of limited liability.

Milton Friedman’s perspective is that the only responsibility of a business is to

Recent studies have shown that neither corporate moral codes nor corporate culture affect whether individuals inside the corporation behave morally or immorally.

Externalities are the unintended consequences (whether negative or positive) that an economic transaction between two parties can have on some third party.

Which of the following contributed to the more relaxed incorporation procedures of modern times?

According to Keith Davis, in addition to considering potential profitability, a business must weigh the long-range social costs of its activities as well. Only if the overall benefit to society is positive should business act.

Those with a broader view concerning business obligations believe that with great power comes

Which of the following is one of the three arguments in favor of narrow corporate social responsibility discussed in this chapter?

In his essay "Social Responsibility and Economic Efficiency," Kenneth Arrow has argued that ethical behavior in the business world comes only at the expense of economic efficiency.

Adam Smith proposed that in our pursuit of economic interests we are led by

Melvin Anshen suggests that there is an relationship between business and society which he termed as

Momentum for the corporate organization of business in the United States really gained momentum after which war?

According to law professor Christopher D. Stone, the relationship between corporate management and its shareholders is identical with the relationship between you and an investment advisor.

"Limited liability" means that members of a corporation are financially liable for corporate debts only up to the extent of their investments.

Corporations differ from partnerships and other forms of business association in two ways. One of these is that

Which of the following do proponents of the broader view of corporate social responsibility believe?

Adherents of the broad view of corporate responsibility claim that modern business is intimately integrated with the rest of society and that, as a result, although society expects businesses to pursue their economic interests, businesses have other responsibilities as well.

The case of First National Bank of Boston v. Bellotti sharpened the legal distinction between corporations and individuals.

Most business observers agree with Berle and Means that, because stock ownership in large corporations is so dispersed, actual control of the corporation has passed to management.