The impact of corporate governance on compounding inequality: Maximising shareholder value and inflating executive pay

Clarke, T; Jarvis, W; Gholamshahi, S

The impact of corporate governance on compounding inequality: Maximising shareholder value and inflating executive pay

Clarke, T

Jarvis, W

Gholamshahi, S

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Publication Type:: Journal Article
Citation:: Critical Perspectives on Accounting, 2019, 63
Issue Date:: 2019-09-01

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Field	Value	Language
dc.contributor.author	Clarke, T https://orcid.org/0000-0002-9719-9647	en_US
dc.contributor.author	Jarvis, W https://orcid.org/0000-0003-3684-796X	en_US
dc.contributor.author	Gholamshahi, S	en_US
dc.date.available	2020-10-25T18:07:37Z
dc.date.issued	2019-09-01	en_US
dc.identifier.citation	Critical Perspectives on Accounting, 2019, 63	en_US
dc.identifier.issn	1045-2354	en_US
dc.identifier.uri	http://hdl.handle.net/10453/75070
dc.description.abstract	© 2018 Elsevier Ltd This analysis considers the dimensions of financialisation of the international economy and how this has produced a more intensive and integrated mode of accumulation. With the increasing translation of Anglo-American listed corporations into financial entities, how the dominant shareholder primacy mode of corporate governance has served to compound inequality is examined. The damaging impact of maximising shareholder value is investigated, both in terms of the long term prospects of corporations, but also in aggressively producing increased inequality in the economy and society. Finally the ultimate paradoxical outcome of agency theory and shareholder value is highlighted as the explosion of executive reward in the last two decades in the Anglo-American countries. Finally the possibilities for reform and change towards more responsible and equitable approaches are considered.	en_US
dc.relation.ispartof	Critical Perspectives on Accounting	en_US
dc.relation.isbasedon	10.1016/j.cpa.2018.06.002	en_US
dc.rights	info:eu-repo/semantics/openAccess
dc.subject.classification	Accounting	en_US
dc.title	The impact of corporate governance on compounding inequality: Maximising shareholder value and inflating executive pay	en_US
dc.type	Journal Article
utslib.citation.volume	63	en_US
utslib.for	150303 Corporate Governance and Stakeholder Engagement	en_US
utslib.for	1501 Accounting, Auditing and Accountability	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Faculty of Business/Management Discipline
utslib.copyright.status	open_access	*
pubs.publication-status	Published	en_US
pubs.volume	63	en_US

Abstract:

© 2018 Elsevier Ltd This analysis considers the dimensions of financialisation of the international economy and how this has produced a more intensive and integrated mode of accumulation. With the increasing translation of Anglo-American listed corporations into financial entities, how the dominant shareholder primacy mode of corporate governance has served to compound inequality is examined. The damaging impact of maximising shareholder value is investigated, both in terms of the long term prospects of corporations, but also in aggressively producing increased inequality in the economy and society. Finally the ultimate paradoxical outcome of agency theory and shareholder value is highlighted as the explosion of executive reward in the last two decades in the Anglo-American countries. Finally the possibilities for reform and change towards more responsible and equitable approaches are considered.

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http://hdl.handle.net/10453/75070