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| Tekijä: | Davis, G. F. |
| Otsikko: | A new finance capitalism? Mutual funds and ownership re-concentration in the United States |
| Lehti: | European management review
2008 : SPRING, VOL. 5:1, p. 11-21 |
| Asiasana: | capitalism company ownership corporate governance finance networks social environment stock markets |
| Kieli: | eng |
| Tiivistelmä: | This article investigates the new American system of financial capitalism and aims to describe its origins and find its emerging features. Since the early 1980s, American households have increased their participation in equity markets and purchased shares in mutual funds. This has generated a growth in assets of the mutual fund industry, and a latent network has been created: certain fund complexes hold ownership positions in hundreds of American companies. However, mutual funds rarely hold large ownership blocks for more than five years, and they also avoid excersising their power. These features make today's finance capitalism in the US differ vastly from antecedent American finance capitalism. |
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