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A flank movement in the understanding of valuation

Author

Listed:
  • Fabian Muniesa

    (CSI i3 - Centre de Sociologie de l'Innovation i3 - Mines Paris - PSL (École nationale supérieure des mines de Paris) - PSL - Université Paris Sciences et Lettres - I3 - Institut interdisciplinaire de l’innovation - CNRS - Centre National de la Recherche Scientifique)

Abstract
The sociological understanding of valuation often starts with an idea of value as something that something has by virtue of how people consider it (that is, it is socially constructed, a convention, a social representation, a projection). At some point, however, analysis also often draws a contrast between this sort of appraisal and some other type of value that the thing may have as a result of its own condition (what it costs, how it is made, with what kind of labour, money and materials, what it is worth in relation to objective standards and fundamental metrics). Dissatisfaction with this binary approach has been expressed in various quarters, but the pragmatist contribution of John Dewey provides a particularly useful resource with which to engage with the subject. This article reviews some aspects of this dissatisfaction, with a focus on the pragmatist idea of valuation considered as an action. I discuss this idea in relation to financial valuation, referring in particular to early pedagogical materials on corporation finance elaborated in the context of the professionalization of business administration. Finally I elaborate on the usefulness of a pragmatist stance in the understanding of financial valuation today.

Suggested Citation

  • Fabian Muniesa, 2011. "A flank movement in the understanding of valuation," Post-Print halshs-00706767, HAL.
    • Handle: RePEc:hal:journl:halshs-00706767
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    Citations

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    Cited by:

    1. Moshe Maor, 2017. "Policy entrepreneurs in policy valuation processes: The case of the Coalition for Environmentally Responsible Economies," Environment and Planning C, , vol. 35(8), pages 1401-1417, December.
    2. Mennicken, Andrea & Kornberger, Martin, 2021. "Von performativität zu generativität: Bewertung und ihre Folgen im Kontext der Digitalisierung," LSE Research Online Documents on Economics 110925, London School of Economics and Political Science, LSE Library.
    3. Hauge, Amalie Martinus, 2018. "Situated valuations: Affordances of management technologies in organizations," Scandinavian Journal of Management, Elsevier, vol. 34(3), pages 245-255.
    4. Lagerlöf, Helena & Eriksson, Lena & Sager, Morten, 2024. "Organizing implementation in healthcare: Balancing orders of worth," Social Science & Medicine, Elsevier, vol. 340(C).
    5. Lantto, Anna-Maija, 2022. "Obtaining entity-specific information and dealing with uncertainty: Financial accountants' response to their changing work of financial reporting and the role of boundary objects," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 85(C).
    6. Plante, Maude & Free, Clinton & Andon, Paul, 2021. "Making artworks valuable: Categorisation and modes of valuation work," Accounting, Organizations and Society, Elsevier, vol. 91(C).
    7. Michael Pryke & John Allen, 2019. "Financialising urban water infrastructure: Extracting local value, distributing value globally," Urban Studies, Urban Studies Journal Limited, vol. 56(7), pages 1326-1346, May.
    8. German Varas & Omar Sabaj & Clay Spinuzzi & Miguel Fuentes & Valentin Gerard & Paula Cabezas, 2023. "Value Creation in Start-Up Discourse: Linking Pitch and Venture Through Logics of Justification," Post-Print hal-03972594, HAL.
    9. Mollie Painter & Sally Hibbert & Tim Cooper, 2019. "The Development of Responsible and Sustainable Business Practice: Value, Mind-Sets, Business-Models," Journal of Business Ethics, Springer, vol. 157(4), pages 885-891, July.
    10. Philip Roscoe & Barbara Townley, 2016. "Unsettling issues: valuing public goods and the production of matters of concern," Journal of Cultural Economy, Taylor & Francis Journals, vol. 9(2), pages 121-126, April.
    11. Hayoun, Shaul, 2019. "How fair value is both market-based and entity-specific: The irreducibility of value constellations to market prices," Accounting, Organizations and Society, Elsevier, vol. 73(C), pages 68-82.
    12. McFall, Liz, 2015. "Is digital disruption the end of health insurance? Some thoughts on the devising of risk," economic sociology. perspectives and conversations, Max Planck Institute for the Study of Societies, vol. 17(1), pages 32-44.
    13. Julien Merlin & Brice Laurent & Yann Gunzburger, 2021. "Promise engineering: Investment and its conflicting anticipations in the French mining revival," Post-Print hal-03265197, HAL.
    14. Horacio Ortiz, 2022. "Political Imaginaries of the Weighted Average Cost of Capital: A Conceptual Analysis," Post-Print halshs-03513082, HAL.
    15. Peltola, Taru & Arpin, Isabelle, 2017. "How We Come to Value Nature? - A Pragmatist Perspective," Ecological Economics, Elsevier, vol. 142(C), pages 12-20.
    16. Jean-Samuel Beuscart & Kevin Mellet, 2013. "Competing Quality Conventions in the French Online Advertising Market," Post-Print hal-00946749, HAL.
    17. Galina Kallio, 2020. "A carrot isn’t a carrot isn’t a carrot: tracing value in alternative practices of food exchange," Agriculture and Human Values, Springer;The Agriculture, Food, & Human Values Society (AFHVS), vol. 37(4), pages 1095-1109, December.
    18. Goulding, Richard & Haslam, Colin & Leaver, Adam & Silver, Jonathan, 2024. "A ‘Distributional Apparatus’ for real estate: Fair value accounting and the assetization of UK property," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 99(C).
    19. Miller, Fiona A. & Lehoux, Pascale, 2020. "The innovation impacts of public procurement offices: The case of healthcare procurement," Research Policy, Elsevier, vol. 49(7).
    20. Kuokkanen, Niina, 2024. "A problematizing review of the financialization of living beings," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 99(C).
    21. McFall, Liz, 2014. "Devising Consumption: cultural economies of insurance, credit and spending," OSF Preprints at2nv, Center for Open Science.
    22. Rachel Weber, 2021. "Embedding futurity in urban governance: Redevelopment schemes and the time value of money," Environment and Planning A, , vol. 53(3), pages 503-524, May.
    23. Huguenin, Ariane & Jeannerat, Hugues, 2017. "Creating change through pilot and demonstration projects: Towards a valuation policy approach," Research Policy, Elsevier, vol. 46(3), pages 624-635.

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