Shareholder value and Financialization: consultancy promises, management moves

Froud, Julie; Haslam, Colin; Johal, Sukhdev; Williams, Karel

doi:10.1080/030851400360578

Cited by 500 publications

(345 citation statements)

References 2 publications

Supporting

Mentioning

292

Contrasting

Unclassified

Order By: Relevance

“…In the context of firms it has been asserted that when globalization started to take hold and foreign competitors entered the marketplace in the 1970s, UK manufacturing firms experienced a decline in profitability (see, for example, Tweedale 1996;Froud et al, 2000). The threat posed by this change was especially noticeable in respect of car and consumer electronics manufacturers.…”

Section: Comparing the Experience Of Financialization In The Uk And Gmentioning

confidence: 99%

“…Malsch et al (2012) have observed the dominance of the hierarchical and individualistic cultures in Western societies, and it will be argued in this section of the paper that this can be interpreted in the economic and political history of the UK in the post-World War Two years.…”

Section: Tracing Cultural Dialogues In the Ukmentioning

confidence: 99%

“…The threat posed by this change was especially noticeable in respect of car and consumer electronics manufacturers. Froud et al (2000) propose that the productionist period of the 1980s was then superseded in the 1990s and a second period of financialization commenced with firms in a contest to produce value for shareholders. Erturk et al (2008) (see also Froud et al, 2002) argue that a defining characteristic of financialization in the UK was the 'massification' (that is, the increasing amounts) of savings from individual households which were then channelled through a coupon pool [2].…”

Section: Comparing the Experience Of Financialization In The Uk And Gmentioning

confidence: 99%

See 2 more Smart Citations

Employing neo-Durkheimian institutional theory in cross-cultural accounting research

Linsley

Linsley²,

Beck

et al. 2016

AAAJ

View full text Add to dashboard Cite

Purpose The purpose of this paper is to propose Neo-Durkheimian institutional theory, developed by the Durkheimian institutional theory, as developed by anthropologist Mary Douglas, as a suitable theory base for undertaking cross-cultural accounting research. The social theory provides a structure for examining within-country and cross-country actions and behaviours of different groups and communities. It avoids associating nations and cultures, instead contending any nation will comprise four different solidarities engaging in constant dialogues. Further, it is a dynamic theory able to take account of cultural change. Design/methodology/approach The paper establishes a case for using neo-Durkheimian institutional theory in cross-cultural accounting research by specifying the key components of the theory and addressing common criticisms. To illustrate how the theory might be utilised in the domain of accounting and finance research, a comparative interpretation of the different experiences of financialization in Germany and the UK is provided drawing on Douglas’s grid-group schema. Findings Neo-Durkheimian institutional theory is deemed sufficiently capable of interpreting the behaviours of different social groups and is not open to the same criticisms as Hofstede’s work. Differences in Douglasian cultural dialogues in the post-1945 history of Germany and the UK provide an explanation of the variations in the comparative experiences of financialization. Originality/value Neo-Durkheimian institutional theory has been used in a wide range of contexts; however, it has been little used in the context of accounting research. The adoption of the theory in future accounting research can redress a Hofstedian-bias in accounting research.

show abstract

Section: Comparing the Experience Of Financialization In The Uk And Gmentioning

confidence: 99%

Section: Tracing Cultural Dialogues In the Ukmentioning

confidence: 99%

Section: Comparing the Experience Of Financialization In The Uk And Gmentioning

confidence: 99%

See 1 more Smart Citation

Employing neo-Durkheimian institutional theory in cross-cultural accounting research

Linsley

Linsley²,

Beck

et al. 2016

AAAJ

View full text Add to dashboard Cite

show abstract

“…The analysis did not include the relevant focus of studies on financialization, corporate behavior, and discursive construction, expressed in intentional management strategies to celebrate what are announced as positive financial acquisitions 14 . Although there is a study on changes in the discourses and values of executives in the health insurance industry 15 , its results would not be easily transposable to specific cases.…”

Section: Methodological Issuesmentioning

confidence: 99%

From health plan companies to international insurance companies: changes in the accumulation regime and repercussions on the healthcare system in Brazil

et al. 2016

View full text Add to dashboard Cite

show abstract

“…To focus on this process, is also to acknowledge that real world changes are carried out by actors. In the case of shareholder value, these actors are often consultants and managers (Froud et al, 2000;Nölke & Perry, 2008), legal and economic scholars (Stout, 2012;Weinstein, 2012) or institutional investors (Lazonick & O'Sullivan, 2001).…”

Section: Introductionmentioning

confidence: 99%

Doxa of Shareholders and Owners: On the Threshold of Financialization

Jonnergård

Larsson-Olaison

2017

Accounting, Economics, and Law: A Convivium

View full text Add to dashboard Cite

Abstract:Following financialization, there has emerged an understanding of what it implies to be a shareholder based on the shareholder value perception. However, as this shareholder value perception spreads internationally, it clashes with traditional perceptions. In this paper, we apply the language developed by Bourdieu to a Swedish public debate on equal treatment of shareholders in connection with the reform of the Swedish market for corporate control. Using Bourdieu's conceptual framework, we describe how a global development interacts with the persistence of national practices. We conclude that in Sweden, local institutional investors have allied themselves with international institutional investors to enhance their positions in the restricted field of Swedish corporate control. Shareholder value is then used by these local actors as an argument to strengthen their position. At the same time, some of the controlling shareholders depart from their traditional position as industrial entrepreneurs and embrace a more financial approach to ownership, thereby altering both the power constellations and the capital, in Bourdieu's sense, of the field.

show abstract

Shareholder value and Financialization: consultancy promises, management moves

Cited by 500 publications

References 2 publications

Employing neo-Durkheimian institutional theory in cross-cultural accounting research

Employing neo-Durkheimian institutional theory in cross-cultural accounting research

From health plan companies to international insurance companies: changes in the accumulation regime and repercussions on the healthcare system in Brazil

Doxa of Shareholders and Owners: On the Threshold of Financialization

Contact Info

Product

Resources

About