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corporation

A Dictionary of Sociology | 1998 | | © A Dictionary of Sociology 1998, originally published by Oxford University Press 1998. (Hide copyright information) Copyright

corporation The legal form of organization for both capitalist and public enterprise, in which control apparently or actually passes to a managerial élite, appointed on the basis of presumed or credentialed expertise. Large corporations in the private sector are the outcome of joint-stock (share) ownership and blocks of impersonally owned and controlled finance capital. In the public sector they typically result from state nationalization and ownership of assets. The best sociological study of the behaviour of corporate employees is still Rosabeth Moss Kanter's Men and Women of the Corporation (1977). See also CAPITALISM; MANAGERIAL REVOLUTION.

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