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The need for an alternative to shareholder value creation? The Ethomed student experience

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  • Paranque, Bernard

Abstract

This article aims to highlight the need for a radical break with the methodological individualism that dominates the fields of economics and management, especially finance. It advocates the need to try to understand the issues and methods that are required to coordinate economic action in order to meet social needs.

Suggested Citation

  • Paranque, Bernard, 2017. "The need for an alternative to shareholder value creation? The Ethomed student experience," Research in International Business and Finance, Elsevier, vol. 39(PB), pages 686-695.
    • Handle: RePEc:eee:riibaf:v:39:y:2017:i:pb:p:686-695
    DOI: 10.1016/j.ribaf.2015.11.013
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    References listed on IDEAS

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    1. Geoffrey M. Hodgson, 2007. "Meanings of methodological individualism," Journal of Economic Methodology, Taylor & Francis Journals, vol. 14(2), pages 211-226.
    2. Bernard Paranque & Bernard Cova, 2013. "How to enhance value? A comparative approach between marketing and finance," Global Business and Economics Review, Inderscience Enterprises Ltd, vol. 15(2/3), pages 279-292.
    3. Fama, Eugene F & Jensen, Michael C, 1983. "Separation of Ownership and Control," Journal of Law and Economics, University of Chicago Press, vol. 26(2), pages 301-325, June.
    4. Feng, L. & Hendrikse, G.W.J., 2011. "Chain Interdependencies, Measurement Problems, and Efficient Governance Structure: Cooperatives versus Publicly Listed Firms," ERIM Report Series Research in Management ERS-2011-001-ORG, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    5. repec:dau:papers:123456789/4185 is not listed on IDEAS
    6. Saioa Arando & Fred Freundlich & Monica Gago & Derek C. Jones & Takao Kato, 2010. "Assessing Mondragon: Stability & Managed Change in the Face of Globalization," William Davidson Institute Working Papers Series wp1003, William Davidson Institute at the University of Michigan.
    7. Michael C. Jensen, 2010. "Value Maximization, Stakeholder Theory, and the Corporate Objective Function," Journal of Applied Corporate Finance, Morgan Stanley, vol. 22(1), pages 32-42, January.
    8. Gios, Geremia & Santuari, Alceste, 2002. "Agricultural Cooperatives in the County of Trento (Italy): Economic, Organizational and Legal Perspectives," Journal of Rural Cooperation, Hebrew University, Center for Agricultural Economic Research, vol. 30(01), pages 1-10.
    9. Myers, Stewart C, 1984. "The Capital Structure Puzzle," Journal of Finance, American Finance Association, vol. 39(3), pages 575-592, July.
    10. Ramon Casadesus-Masanell & Tarun Khanna, 2003. "Globalization and Trust: Theory and Evidence from Cooperatives," William Davidson Institute Working Papers Series wp592, William Davidson Institute at the University of Michigan.
    11. Caroline BOUCHON & Benoît MICHARD & Anthony PLASSE & Bernard PARANQUE, 2012. "Coopératives et gouvernance: modernité ou archaïsme?," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 83(3), pages 317-335, September.
    12. Chris Cornforth, 2004. "The Governance of cooperatives and mutual associations: a paradox perspective," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 75(1), pages 11-32, March.
    13. Hart, Oliver & Moore, John, 1996. "The Governance of Exchanges: Members' Cooperatives versus Outside Ownership," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 12(4), pages 53-69, Winter.
    14. A. Desreumaux & J.P. Brechet, 2013. "L'entreprise comme bien commun," Post-Print hal-00845643, HAL.
    15. Bruno Amable & Stefano Palombarini, 2005. "L'économie politique n'est pas une science morale," Post-Print halshs-00310486, HAL.
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    Cited by:

    1. Andrikopoulos, Andreas, 2020. "Delineating social finance," International Review of Financial Analysis, Elsevier, vol. 70(C).
    2. Lagoarde-Segot, Thomas & Paranque, Bernard, 2018. "Finance and sustainability: From ideology to utopia," International Review of Financial Analysis, Elsevier, vol. 55(C), pages 80-92.

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    More about this item

    Keywords

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    JEL classification:

    • L3 - Industrial Organization - - Nonprofit Organizations and Public Enterprise
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements

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