Yes, this is perfectly acceptable and this is a common practice when you want to establish a shared copyright. For instance this is commonly used (with a BSD license) for Chromium that uses a copyright notice of
Copyright (c) The Chromium AUTHORS. Several other projects are using a similar approach.
It has the definitive advantage of simplicity as each contributor does not feel compelled to add its own name to any file that is touched.
And the VCS history and/or an
AUTHORS file can be used to track actual contributors if need be.
It also makes parsing copyright notices much simpler rather than handling some long, stacked, multilines and multiholders copyright statements (even for more advanced parsers like mine).
All this means brief and clear copyright statements which is a good thing for your project team and your users.