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Unpublished Paper
Value Creation, Distribution, and Integrated Financial Reporting
  • Shyam Sunder
In the neoclassical model of the firm, value created by the firm is assumed to accrue to its owner.  Contract model suggests a distribution of this value or surplus among various agents depending on the imperfections of the markets in which they transact with the firm.  If the share of the surplus to an agent declines with the perfection of the market in which he transacts, shareholders should be expected to get only a small piece of the pie, violating the neoclassical assumption.  The paper explores an extensive value concept and its measurement in an integrated financial reporting framework for firms.  
  • factor income distribution,
  • extensive value,
  • surplus
Publication Date
January, 2017
Citation Information
Shyam Sunder. "Value Creation, Distribution, and Integrated Financial Reporting" (2017)
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