Sabine Montagne

Short-Termism as a Rule: the Effects of Portfolio Management Delegation

[eng] Because of their governance, investors are not able to develop long-term investment policies. While they have been outsourcing investment decision making to asset management firms and evaluation to intermediaries (consulting firms and credit raring agencies), they have contributed to the creation of markets of providers which are dominated by the logic of short-term profit. The dictates of performances comparison and competition have fostered evaluation of providers through synthetic indexes. These provide an abstract representation of economic activity that hinders alternative representations, specific to long-term investors. These various practises have been institutionalized into legitimate norms hard to be challenged. . JEL Classification : G20, G23, G24, L14, L22

Pour une socionoétique des objets économiques. Entretien avec Frédéric Lordon

RR.xa0: Parmi les questions que nous vous avons envoyees avant notre rencontre, vous avez tout de suite fait remarquer qu’il en manquait une, importante… Frederic Lordonxa0: Oui, et c’est la question prejudiciellexa0: la question de l’entretien meme. Je dois dire que je nourris des sentiments tres ambivalents pour ces entretiens a caractere autobiographique d’intellectuels ou de chercheurs. Je les lis le plus souvent avec beaucoup de plaisir – quoique il ne faudrait sans doute pas trop creuser ce ...