Charity and finance in the university

Beverungen, Armin, Hoedemaekers, Casper Maarten Willem and Veldman, Jeroen 2014. Charity and finance in the university. Critical Perspectives on Accounting 25 (1) , pp. 58-66. 10.1016/j.cpa.2012.10.005

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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
Date Type:	Publication
Status:	Published
Schools:	Business (Including Economics)
Subjects:	H Social Sciences > H Social Sciences (General) H Social Sciences > HJ Public Finance H Social Sciences > HV Social pathology. Social and public welfare
Uncontrolled Keywords:	Critical; Public sector; Financialisation; Universities
Publisher:	Elsevier
ISSN:	1045-2354
Last Modified:	25 Feb 2019 16:11
URI:	https://orca.cardiff.ac.uk/id/eprint/39594

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