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Karin Jonnergård
Professor emerita
![karin jonnergård. Photo.](/sites/lusem.lu.se/files/styles/lu_personal_page_desktop/public/2024-04/KarinJonnergrd.jpg.webp?itok=6v1YRGQS)
Doxa of Shareholders and Owners: : On the Threshold of Financialization
Author
Summary, in English
Following financialization, there has emerged an understanding of what it implies to be a shareholder based on the shareholder value perception. However, as this shareholder value perception spreads internationally, it clashes with traditional perceptions. In this paper, we apply the language developed by Bourdieu to a Swedish public debate on equal treatment of shareholders in connection with the reform of the Swedish market for corporate control. Using Bourdieu’s conceptual framework, we describe how a global development interacts with the persistence of national practices. We conclude that in Sweden, local institutional investors have allied themselves with international institutional investors to enhance their positions in the restricted field of Swedish corporate control. Shareholder value is then used by these local actors as an argument to strengthen their position. At the same time, some of the controlling shareholders depart from their traditional position as industrial entrepreneurs and embrace a more financial approach to ownership, thereby altering both the power constellations and the capital, in Bourdieu’s sense, of the field.
Department/s
- Department of Business Administration
Publishing year
2018
Language
English
Publication/Series
Accounting, Economics, and Law: A Convivium
Volume
8
Issue
3
Full text
- Available as PDF - 304 kB
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Document type
Journal article
Publisher
De Gruyter
Topic
- Business Administration
Keywords
- shareholder value
- financialization
- corporate governance
- Sweden
- market for corporate control
Status
Published
ISBN/ISSN/Other
- ISSN: 2152-2820