The Historical Context of Shareholder Value Capitalism

  title={The Historical Context of Shareholder Value Capitalism},
  author={Mark S. Mizruchi and Howard Kimeldorf},
Dobbin and Zorn offer a rich and insightful explanation for recent shifts in corporate strategies and incentives that, they argue, left American firms open to the wave of scandals that have filled the nightly news over the past few years. Where once far-sighted corporate leaders trained their eyes on stability and long-term growth, today's CEOs have trouble looking beyond the quarterly profit predictions that constitute the new bottom line in corporate America. Focused as they are on “meeting… Expand
The decline of managerial capitalism and visionary leadership literature: Revisiting the writings of an automotive industry leader
Purpose In the recent literature on financialization and the rise of investor capitalism, the successor of managerial capitalism, which dominated until the 1970s, suggests that the firm isExpand
The Paradox of Securities Markets Efficiency: Where to Next
This article examines the claim of securities markets efficiency based on the efficient markets hypothesis (EMH), which Fama proclaimed to be a well substantiated truth in 1978. Behavioural theoryExpand
Understanding corporate governance in the United States: An historical and theoretical reassessment
The U.S. is often seen as being the paradigmatic case of the shareholder-oriented or market-based model to corporate governance, and described in terms of several inter-related elements: activistExpand
The Paradox of Securities Markets Efficiency
This article examines the claim of securities markets efficiency based on the efficient markets hypothesis (EMH), which Fama proclaimed to be a well substantiated truth in 1978. Behavioural theoryExpand
Performing Agency Theory and the Neoliberalization of the State
According to Streeck and Vogl, the neoliberalization of the state has been the result of political-economic developments that render the state dependent on financial markets. However, they do notExpand
The influence of neoliberalism and its absence from management research
Purpose – The paper aims to address the recent debate over the “relevance lost” of business school research and points to the establishment of neoliberal economic policy during the past three decadesExpand
The institutional context of financial fraud in a post-transition economy: The Quaestor scandal
The article will analyse the greatest Hungarian securities fraud to date: the Quaestor scandal. Quaestor was a holding of several companies, including one of Hungary’s biggest investment adviser andExpand
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Using the rise of the Chinese “shareholding state” as an example, this paper attempts to extend the study of financialization from the economy to the state. It documents a historical andExpand
A managerial revolution in reverse: finance market control of the corporation and the triumph of the agency theory model
Corporate governance denotes different practices and procedures in economic sociology and in the economic theory literature; while economic sociologists are concerned about understanding theExpand
Modeling firms in the global economy
I examine the apparent deverticalization of firms in the world economy and their adoption of relational contracting and modularization, necessitated by rapid product change, cheap and rapidExpand


The Power Structure of American Business.
Mintz and Schwartz offer a fascinating tour of the corporate world. Through an intensive study of interlocking corporate directorates, they show that for the first time in American history the loanExpand
Investor Capitalism : How Money Managers Are Changing the Face of Corporate America
A behind-the-scenes look at today's kingmakers: institutional investors. Out of the public eye, a small group of professionals--investment experts who handle other people's monies--are exertingExpand
Executive Defense: Shareholder Power and Corporate Reorganization.
A quiet revolution came to corporate America during the late 1980s and early 1990S. Large shareholders - pension funds, insurance companies, money managers, and commercial banks - exercised new-foundExpand
The Money Center Cannot Hold: Commercial Banks in the U.S. System of Corporate Governance
This paper examines how the place of banks in the intercorporate network has changed as a result of their decreasing role as financial intermediaries in the U.S. economy. An analysis of comprehensiveExpand
The Modern Corporation and Private Property.
This monumental work on the corporation is one of those enduring classics that many cite but few have read. Graced with a new introduction by Weidenbaum and Jensen, this new edition makes thisExpand
False Promises: The Shaping of American Working Class Consciousness
This classic study of the American working class, originally published in 1973, is now back in print with a new introduction and epilogue by the author. An innovative blend of first-person experienceExpand
The Inner Circle: Large Corporations and the Rise of Business Political Activity in the U. S. and U.K.
This book provides a sophisticated and informative analysis of the 'inner circle' of top American executives who play a leading role in the international corporate network by promoting a politicalExpand
Hard Work: Remaking the American Labor Movement
List of Illustrations Preface 1. Why Labor Matters: The Underside of the "American Model" 2. An Exceptionally Hostile Terrain 3. Bureaucrats, "Strongmen," Militants, and Intellectuals 4. PracticesExpand
The money center cannot hold: Commercial hanks rtl the LTS s!stern nf governance
  • 1999
Hurd work Remaking the American luhvr nio1 c,mcnz
  • 2004