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Charity and finance in the university

Beverungen, A and Hoedemaekers, C and Veldman, J (2014) 'Charity and finance in the university.' Critical Perspectives on Accounting, 25 (1). pp. 58-66. ISSN 1045-2354

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Abstract

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.

Item Type: Article
Uncontrolled Keywords: Critical; Public sector; Financialisation; Universities
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Divisions: Faculty of Social Sciences
Faculty of Social Sciences > Essex Business School
SWORD Depositor: Elements
Depositing User: Elements
Date Deposited: 02 Sep 2013 12:48
Last Modified: 06 Jan 2022 13:26
URI: http://repository.essex.ac.uk/id/eprint/5248

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