{"id":"https://openalex.org/W2011045701","doi":"https://doi.org/10.1093/cje/bem009","title":"Does shareholder primacy lead to a decline in managerial accountability?","display_name":"Does shareholder primacy lead to a decline in managerial accountability?","publication_year":2006,"publication_date":"2006-11-08","ids":{"openalex":"https://openalex.org/W2011045701","doi":"https://doi.org/10.1093/cje/bem009","mag":"2011045701"},"language":"en","primary_location":{"id":"doi:10.1093/cje/bem009","doi":"https://doi.org/10.1093/cje/bem009","is_oa":false,"landing_page_url":"https://doi.org/10.1093/cje/bem009","pdf_url":null,"source":{"id":"https://openalex.org/S67103694","display_name":"Cambridge Journal of Economics","issn_l":"0309-166X","issn":["0309-166X","1464-3545"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","jufo-1","norway-1","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310311648","host_organization_name":"Oxford University Press","host_organization_lineage":["https://openalex.org/P4310311648","https://openalex.org/P4310311647"],"host_organization_lineage_names":["Oxford University Press","University of Oxford"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Cambridge Journal of Economics","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5054429283","display_name":"Antoine Reb\u00e9rioux","orcid":"https://orcid.org/0000-0003-1246-0605","observed_orcids":["https://orcid.org/0000-0003-1246-0605"]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"A. Reberioux","raw_affiliation_strings":["University Paris X"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University Paris X","institution_ids":[]}]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":["https://openalex.org/A5054429283"],"corresponding_institution_ids":[],"apc_list":{"value":3423,"currency":"GBP","value_usd":4514},"apc_paid":null,"fwci":11.0483,"has_fulltext":false,"cited_by_count":33,"citation_normalized_percentile":{"value":0.97742871,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":98},"biblio":{"volume":"31","issue":"4","first_page":"507","last_page":"524"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.8970000147819519,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.8970000147819519,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13957","display_name":"Corporate Governance and Financial Management","score":0.04349999874830246,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10081","display_name":"Auditing, Earnings Management, Governance","score":0.031199999153614044,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/shareholder-primacy","display_name":"shareholder primacy","score":1.0},{"id":"https://openalex.org/keywords/managerial-accountability","display_name":"managerial accountability","score":0.9929999709129333},{"id":"https://openalex.org/keywords/corporate-governance","display_name":"corporate governance","score":0.7239999771118164},{"id":"https://openalex.org/keywords/accounting-irregularities","display_name":"accounting irregularities","score":0.8360000252723694},{"id":"https://openalex.org/keywords/executive-compensation","display_name":"executive compensation","score":0.9980000257492065},{"id":"https://openalex.org/keywords/corporate-fraud","display_name":"corporate fraud","score":0.414000004529953},{"id":"https://openalex.org/keywords/enron-scandal","display_name":"Enron scandal","score":0.6069999933242798},{"id":"https://openalex.org/keywords/separation-of-ownership-and-control","display_name":"separation of ownership and control","score":0.6480000019073486}],"concepts":[{"id":"https://openalex.org/C2776007630","wikidata":"https://www.wikidata.org/wiki/Q2798912","display_name":"Accountability","level":2,"score":0.8060473203659058},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.6983931064605713},{"id":"https://openalex.org/C2777093003","wikidata":"https://www.wikidata.org/wiki/Q6508345","display_name":"Lead (geology)","level":2,"score":0.5110114812850952},{"id":"https://openalex.org/C120757647","wikidata":"https://www.wikidata.org/wiki/Q381136","display_name":"Shareholder","level":3,"score":0.46061134338378906},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.33932074904441833},{"id":"https://openalex.org/C118084267","wikidata":"https://www.wikidata.org/wiki/Q26110","display_name":"Positive economics","level":1,"score":0.32825350761413574},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.19487351179122925},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.12653207778930664},{"id":"https://openalex.org/C187736073","wikidata":"https://www.wikidata.org/wiki/Q2920921","display_name":"Management","level":1,"score":0.08696916699409485},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.06680995225906372},{"id":"https://openalex.org/C114793014","wikidata":"https://www.wikidata.org/wiki/Q52109","display_name":"Geomorphology","level":1,"score":0.0},{"id":"https://openalex.org/C127313418","wikidata":"https://www.wikidata.org/wiki/Q1069","display_name":"Geology","level":0,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1093/cje/bem009","doi":"https://doi.org/10.1093/cje/bem009","is_oa":false,"landing_page_url":"https://doi.org/10.1093/cje/bem009","pdf_url":null,"source":{"id":"https://openalex.org/S67103694","display_name":"Cambridge Journal of Economics","issn_l":"0309-166X","issn":["0309-166X","1464-3545"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","jufo-1","norway-1","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310311648","host_organization_name":"Oxford University Press","host_organization_lineage":["https://openalex.org/P4310311648","https://openalex.org/P4310311647"],"host_organization_lineage_names":["Oxford University Press","University of Oxford"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Cambridge Journal of Economics","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:oup:cambje:v:31:y:2007:i:4:p:507-524","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10.1093/cje/bem009","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/16","score":0.5473999977111816,"display_name":"Peace, justice, and strong institutions"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":45,"referenced_works":["https://openalex.org/W41158748","https://openalex.org/W572978136","https://openalex.org/W1542541609","https://openalex.org/W1564449562","https://openalex.org/W1566344170","https://openalex.org/W1573029341","https://openalex.org/W1582284464","https://openalex.org/W1771746179","https://openalex.org/W1929473157","https://openalex.org/W1968003618","https://openalex.org/W1977115264","https://openalex.org/W1977278452","https://openalex.org/W2015353363","https://openalex.org/W2015930340","https://openalex.org/W2020463787","https://openalex.org/W2029056003","https://openalex.org/W2054445807","https://openalex.org/W2082920809","https://openalex.org/W2083148578","https://openalex.org/W2103404150","https://openalex.org/W2103679355","https://openalex.org/W2111946387","https://openalex.org/W2120067590","https://openalex.org/W2127395782","https://openalex.org/W2159763329","https://openalex.org/W2160184254","https://openalex.org/W2162448899","https://openalex.org/W2328662538","https://openalex.org/W2476273902","https://openalex.org/W2752617332","https://openalex.org/W2891290756","https://openalex.org/W2922519225","https://openalex.org/W3121694269","https://openalex.org/W3121788903","https://openalex.org/W3121816004","https://openalex.org/W3121865828","https://openalex.org/W3122792526","https://openalex.org/W3123341076","https://openalex.org/W3123348130","https://openalex.org/W3123507337","https://openalex.org/W3123909526","https://openalex.org/W3124379587","https://openalex.org/W3124634234","https://openalex.org/W3125898175","https://openalex.org/W7213324186"],"related_works":["https://openalex.org/W2139781213","https://openalex.org/W7213339876","https://openalex.org/W1521579214","https://openalex.org/W1785271843","https://openalex.org/W3154876662","https://openalex.org/W1590312909","https://openalex.org/W3122985681","https://openalex.org/W2123113433","https://openalex.org/W2731095755","https://openalex.org/W3122341933"],"abstract_inverted_index":{"Shareholder":[0],"primacy":[1,88],"is":[2,31],"increasingly":[3],"considered":[4],"to":[5,11,17,95],"be":[6],"the":[7,35,41,69,76,84,108],"most":[8],"effective":[9],"way":[10],"foster":[12],"managerial":[13],"(corporate)":[14],"accountability.":[15],"Contrary":[16],"this":[18,49,102],"now":[19],"standard":[20],"argument,":[21],"we":[22,51],"consider":[23],"that":[24],"shareholder":[25,87],"primacy,":[26],"rather":[27],"than":[28],"gatekeeper":[29],"failure,":[30],"directly":[32],"responsible":[33],"for":[34,80],"multiplication":[36],"of":[37,56,72,75,86,110],"accounting":[38],"irregularities":[39],"and":[40,58,63,65,98],"dramatic":[42],"increase":[43],"in":[44],"executive":[45],"compensations.":[46],"To":[47],"defend":[48],"thesis,":[50],"propose":[52],"a":[53,73,90],"new":[54],"reading":[55],"Berle":[57],"Means":[59],"(1932),":[60],"Galbraith":[61],"(1973)":[62],"Alchian":[64],"Demsetz":[66],"(1972),":[67],"stressing":[68],"logical":[70],"failure":[71],"control":[74],"business":[77],"firm":[78],"provided":[79],"by":[81],"stock":[82],"markets:":[83],"implementation":[85],"implies":[89],"partial":[91],"disconnection":[92,103],"between":[93],"access":[94],"internal":[96],"knowledge":[97],"empowerment.":[99],"In":[100],"turn,":[101],"favours":[104],"deceptive":[105],"behaviours":[106],"on":[107,117],"part":[109],"corporate":[111],"insiders.":[112],"Empirical":[113],"evidence":[114],"mostly":[115],"based":[116],"Enron-era":[118],"financial":[119],"scandals":[120],"illustrates":[121],"our":[122],"argument.":[123]},"counts_by_year":[{"year":2024,"cited_by_count":1},{"year":2023,"cited_by_count":1},{"year":2021,"cited_by_count":1},{"year":2020,"cited_by_count":1},{"year":2019,"cited_by_count":2},{"year":2017,"cited_by_count":1},{"year":2016,"cited_by_count":2},{"year":2015,"cited_by_count":2},{"year":2014,"cited_by_count":1},{"year":2013,"cited_by_count":5},{"year":2012,"cited_by_count":3}],"updated_date":"2026-11-04T10:54:05.112534","created_date":"2016-06-24T00:00:00"}
