Corporate governance adrift a critique of shareholder value
Recent corporate governance scandals have brought to the fore the inherent contradictions of a capitalism dominated by financial markets. This challenging book by Michel Aglietta and Antoine Rebérioux argues that capitalism's basic premise--that companies must be managed in the sole interest of...
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| Format: | eBook |
| Language: | English |
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Cheltenham, U.K
Edward Elgar
c2005
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| Series: | Saint-Gobain Centre for Economic Studies series
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| Collection: | Edward Elgar eBook Archive - Collection details see MPG.ReNa |
| Summary: | Recent corporate governance scandals have brought to the fore the inherent contradictions of a capitalism dominated by financial markets. This challenging book by Michel Aglietta and Antoine Rebérioux argues that capitalism's basic premise--that companies must be managed in the sole interest of their shareholders--is incongruent with the current environment of liquid markets, profit-hungry investors and chronic financial instability. The authors advocate rather that a company should be managed as an institution where common objectives are developed for all stakeholders, and that this democratic principle should be extended to the management of collective savings to reduce macro-financial instability. These two conditions, they contend, could make contemporary capitalism a vehicle for social progress 1. Finance-led capitalism : an inventory -- 2. A critique of the foundations of shareholder value -- 3. The convergence of the European model in question -- 4. Corporate governance regimes -- 5. Accounting, finance and the firm -- 6. The logics of finance -- 7. Financial crises and the economic cycle -- 8. Reinterpreting the financial scandals of the Enron era -- 9. In favour of economic democracy |
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| Physical Description: | xiv, 306 p ill |
| ISBN: | 9781845421373 9781845421380 1845421388 9781845425470 184542137X |