Against agency
A Positional Critique
Bibliographic Data
| ID | 2159451 |
|---|---|
| Authors | Ismail Ertürk (0000-0003-3204-4430), Julie Froud (0000-0002-8330-2615), Sukhdev Johal, Adam Leaver (0000-0001-6199-6057), Karel Williams (0000-0002-2743-7785) |
| Year | 2007 |
| Volume | 36 |
| Issue | 1 |
| Pages | 51-77 |
| Publication date | 2007-02-01 |
| 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 | 10.1080/03085140601089903 |
| OpenAlex | W1993263531 |
| Language | EN |
| Citations received | 13 |
| References cited | 19 |
This paper uses the changing historical and theoretical frames within which management pay and investor claims are considered to provide a critique of the functionalist approach of agency and to develop an alternative, positional explanation of rewards. The first part of the paper draws on the contrast between the pre-1940 critique of the rentier and the post-1980 discursive construction of the shareholder to raise important contemporary questions about position and reward. The second part develops the idea of positional rewards to challenge agency assumptions by arguing that both giant firm managers and the less visible, though larger, group of intermediaries use their position to skim value. In contrast, the experience of position is more mixed for shareholders, who are generally passive value surfers. The final section of the paper argues that a renewed emphasis on position will enable a problem shift from value creation to value capture
Agency (philosophy · Business · Contrast (vision · Corporate governance · Economics · Intermediary · Law and economics · Position (finance · Positive economics · Shareholder · Shareholder value · Social science · Sociology · Value (mathematics · Computer Science · Corporate Finance and Governance · Housing, Finance, and Neoliberalism · Private Equity and Venture Capital · Finance
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Business Elites and Corporate Governance in France and the UK
Searching for a Corporate Savior
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Financialization and Strategy
Theory of the firm
Marx's Capital and Capitalism Today Routledge Library Editions
Agency Problems and the Theory of the Firm
Company Law and the Myth of Shareholder Ownership
Working for themselves? Capital market intermediaries and present day capitalism
The financialization of the American economy
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| Unique citing works | 13 |
|---|---|
| Citations per year | 1,08 |
| Citation span | 2014 - 2022 (9) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 12 |