TY - JOUR

T1 - Charity and finance in the university

AU - Beverungen, Armin

AU - Hoedemaekers , Casper

AU - Veldman, Jeroen

PY - 2014/2/1

Y1 - 2014/2/1

N2 - In this paper we explore the financialisation of the university, and how it is possible that universities behave as if they were private corporations despite legally being corporations with a charitable status. We argue that this is largely attributable to financialisation, which creates tension with the university's charitable status. The paper commences with a brief history of incorporation, and examines developments in corporate governance. With the dominance of finance, and the treatment of institutions as mere nexus of contracts, distinctions between public and private become redundant. The paper continues with an account of the effects of financialisation on university governance, under which the university acts increasingly like a for-profit corporation, with its financial governance in direct contradiction to its charitable status. Here, the university emerges as a key site of neoliberalism, where financialised subjects are shaped. Finally, we examine to what extent the financialisation of the university may be halted through a reflection on its status as a charitable corporation.

AB - In this paper we explore the financialisation of the university, and how it is possible that universities behave as if they were private corporations despite legally being corporations with a charitable status. We argue that this is largely attributable to financialisation, which creates tension with the university's charitable status. The paper commences with a brief history of incorporation, and examines developments in corporate governance. With the dominance of finance, and the treatment of institutions as mere nexus of contracts, distinctions between public and private become redundant. The paper continues with an account of the effects of financialisation on university governance, under which the university acts increasingly like a for-profit corporation, with its financial governance in direct contradiction to its charitable status. Here, the university emerges as a key site of neoliberalism, where financialised subjects are shaped. Finally, we examine to what extent the financialisation of the university may be halted through a reflection on its status as a charitable corporation.

KW - Management studies

KW - financialisation

KW - charity

KW - university

KW - governance

KW - Critical

KW - Financialisation

KW - Public sector

KW - Universities

KW - Cultural studies

U2 - 10.1016/j.cpa.2012.10.005

DO - 10.1016/j.cpa.2012.10.005

M3 - Journal articles

VL - 25

SP - 58

EP - 66

JO - Critical Perspectives on Accounting

JF - Critical Perspectives on Accounting

SN - 1045-2354

IS - 1

ER -