History Begins: Shareholder Value, Accountability and the Virtuous State
corporate governance
Northern Ireland Legal Quarterly 60 (1), 35-50
The paper is available here.
A preprint of the paper is available here.
This paper addresses the shareholder value paradigm as an accountability claim for the corporation. Shareholder value mechanisms - predominantly in the form of incentives to align the interests of management with those of shareholders - are regarded as a more efficient means for corporate governance than external regulation or direct shareholder control. Nevertheless, any accountability claim must be rooted in a sense of the virtues that legitimate the claims. Without those virtues, mechanisms of control would simply be free-floating uses of force by one section or another in society.
Citation
BibTeX citation:
@article{o'kelly2009,
author = {O’Kelly, Ciarán},
title = {History {Begins:} {Shareholder} {Value,} {Accountability} and
the {Virtuous} {State}},
journal = {Northern Ireland Legal Quarterly},
volume = {60},
number = {1},
pages = {35-50},
date = {2009-03-01},
url = {http://onlinelibrary.wiley.com/doi/10.1111/j.1477-7053.2004.00132.x},
langid = {en}
}
For attribution, please cite this work as:
O’Kelly, Ciarán. 2009. “History Begins: Shareholder Value,
Accountability and the Virtuous State.” Northern Ireland
Legal Quarterly 60 (1): 35–50. http://onlinelibrary.wiley.com/doi/10.1111/j.1477-7053.2004.00132.x.