FINANCIAL REGULATION AND SOCIAL WELFARE: THE CRITICAL CONTRIBUTION OF MANAGEMENT THEORY

• 成果类型: Article
• 署名作者: Marti, Emilio; Scherer, Andreas Georg
• 署名单位: University of Zurich; City St Georges, University of London; University of Zurich
• 刊物名称: ACADEMY OF MANAGEMENT REVIEW
• ISSN/ISSBN: 0363-7425
• DOI: 10.5465/amr.2013.0469
• 发表日期: 2016
• 页码: 298-323
• 关键词: ORGANIZATION THEORY; SHAREHOLDER VALUE; rise; CRISIS; MARKET; SOCIETY; ECONOMICS; DEMOCRACY; BUSINESS; POLITICS

摘要

While many studies explain how social science theories shape social reality, few reflect critically on how such theories should shape social reality. Drawing on a new conception of social welfare and focusing on financial regulation, we assess the performative effects of theories on public policy. We delineate how research that focuses narrowly on questions of efficiency and stability reinforces today's technocratic financial regulation that undermines social welfare. As a remedy, we outline how future management research can tackle questions of social justice and thereby promote an inclusive approach to financial regulation that better serves social welfare.