Shareholder value and corporate governance
Some Tricky Questions
Bibliographic Data
| ID | 2159232 |
|---|---|
| Authors | Michel Aglietta |
| Year | 2000 |
| Volume | 29 |
| Issue | 1 |
| Pages | 146-159 |
| Publication date | 2000-01-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Economy and Society (JOURNAL) |
| Journal identifiers | ISSN: 0308-5147 • E-ISSN: 1469-5766 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/030851400360596 |
| OpenAlex | W1982935413 |
| Language | EN |
| Citations received | 88 |
Shareholder value is not a new idea. But it entails a shift in control over businesses with far-reaching macro-economic consequences. They are mostly apparent in the USA. The required financial return spurs a momentous equity price appreciation which discourages private saving. Meanwhile, the achievement of a financial profitability consistently above the economic rate of return on real capital induces a rising leverage cum share buybacks. The financial dynamic is highly procyclical and generates a financial fragility which questions the hypothetical advantage of private pension funds over pay-as-you-go retirement systems. Keywords: Shareholder ValueCorporate GovernanceGrowth RegimeLeverageWealth Accumulation
Business · Corporate governance · Economics · Equity (law · Financial crisis · Financial fragility · Financial system · Internal rate of return · Leverage (statistics · Macroeconomics · Monetary economics · Pension · Private equity · Profitability index · Rate of return · Return on equity · Share price · Shareholder · Shareholder value · Value (mathematics · Financial Reporting and Valuation Research · Finance
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| Unique citing works | 88 |
|---|---|
| Citations per year | 3,52 |
| Citation span | 2001 - 2026 (26) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 87 |