Governance Codes: A Compass for Good Behaviour?

Abstract

Corporate Governance Codes have been developed for good governance of public and private companies. However, they do not seem to be effective as a compass for good behavior of leaders. The thesis looks for the philosophical explanation of this disappointing result. The current system functions within the given assumptions and vocabulary from a utilitarian view of human nature. The limitations of this view are discussed and compared to a different philosophical palet. The alternatives from a phenomenological and existentialist perspective and the feminist philosophy of care are proposed. They lead to a different definition of key concepts, like how we define a company, the function of economic activity in human life, the relation with the community. From there, a new existentialist definition of economic activity is created, where meaningful life is developed, and a communication based on the discours theory of Habermas offers the basis for a human anchor, a new compass.