Title:

The institutional context of financialization

Group publication title:

Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu

Creator:

Ząbkowicz, Anna

Description:

Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu = Research Papers of Wrocław University of Economics; 2009; Nr 59, s. 475-483

Abstrakt:

The phenomenon of financialization of non-financial corporations has been widely observed in the US economy since the 1980s and since the 1990s in some European economies as well. This is as a pattern of accumulation in which profits accrue primarily through financial channels rather than through trade and commodity production [Krippner 2005, p. 181]. “Financial” here refers to activities relating to the provision (or transfer) of liquid capital in expectation of future interest, dividends, or capital gains. There is a range of research that points to the increasing salience of finance in the economy [Brenner 2002; Epstein (ed.) 2005]. The literature addressing the problem with reference to firms tends to focus either on organizational developments with strong link to shareholder view in corporate governance [Lazonick, O’Sullivan 2000; Williams 2000], or on activities inside financial markets [Phillips 2002]. This paper deals with the financialization from the perspective of institutional economics. This means an approach broader than a mere “technical” analysis of corporate balance sheets, which aims to identify relation between such corporate behaviour and the nature of contemporary economy, described by a range of social science research since the 1980s. (fragment tekstu)

Publisher:

Publishing House of the Wrocław University of Economics

Place of publication:

Wroclaw

Date:

2009

Resource Type:

artykuł

Language:

eng

Relation:

Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu = Research Papers of Wrocław University of Economics; 2009; Nr 59 ; Global Challenges and Policies of the European Union – Consequences for the “New Member States”

Rights:

Wszystkie prawa zastrzeżone (Copyright)

Access Rights:

Dla wszystkich w zakresie dozwolonego użytku

Location:

Uniwersytet Ekonomiczny we Wrocławiu

Coverage:

Dofinansowano z programu "Społeczna odpowiedzialność nauki" Ministra Edukacji i Nauki (SONB/SP/546390/2022). Tytuł projektu: Upowszechnienie zawartości czasopisma Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu