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Financialisation In The Automotive Industry

Author : Marcelo José Do Carmo
ISBN : 0367751399
Genre : Automobile industry and trade
File Size : 25. 14 MB
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It is increasingly the case that car manufacturers are owned by banks and investment funds which have taken control of the entire economic life of these firms. This book explores this increasing financialization - the predominance of the financial sector over the productive sector - in the automotive industry.

Financialisation In The Automotive Industry

Author : Marcelo José do Carmo
ISBN : 9781000449341
Genre : Business & Economics
File Size : 59. 36 MB
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Where presidents or members of affluent families were previously seen, it is increasingly the case that car manufacturers are owned by banks and investment funds which have taken control of the entire economic life of these firms. This has significant impact on the terms of employment and layoffs, wages and precarious work, growing inequalities in income strata, compensation levels for executives, and the implementation of short-termist strategies across business operations. This book explores this increasing financialization – the predominance of the financial sector over the productive sector – in the automotive industry. In particular it is shown that the financial operations of these companies through leasing, insurance, loans, and other financial instruments is now much more profitable than the manufacturing aspects of the business, which was originally the raison d’être for these firms. The chapters demonstrate how there are great demands to increase the return to shareholders as a main concern, despite other metrics and/or other stakeholders. The work studies the impact of financialization at the world’s five largest automakers which together represent almost 50% of car production, providing an exploratory analysis of profitability, shareholder composition, compensation to executives, workers' salaries, dividend payments to shareholders, and employment. Encouraging debate on contemporary economy, this book marks a significant addition to the literature on financialization, contemporary forms of capitalism, labour and economic sociology more broadly.

Productive Organisations Employment Relationships Financialisation Specifities Of The Automotive Industry

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ISBN : OCLC:633962530
Genre :
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Financialization And Strategy

Author : Julie Froud
ISBN : 9781134314553
Genre : Business & Economics
File Size : 54. 31 MB
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Considering the recent impact of the capital market on corporate strategy, this text analyzes, through argument and supportive case studies, how pressures from the capital bull market of the 1990s and bear market of the early 2000s, have reshaped management action and calculation in large, publicly quoted US and UK corporations. Beginning with the dissatisfaction with classical strategy and its limited engagement with the processes of financialization, the book moves on to cover three detailed company case studies (General Electric, Ford and GlaxoSmithKline) which use long run financial data and analysis of company and industry narratives to illustrate and explore key themes. The book emphasizes the importance of company and industry narrative, while also analyzing long term financial results, and helps to explain the limits of management action and the burden of expectations placed on corporate governance. Presenting financial and market information on trajectory in an accessible way, this book provides a distinctive, critical social science account of management in large UK and US corporations, and it is a valuable resource for students, scholars and researchers of business, management, political economy and non-mainstream economics. short listed for the 2007 IPEG Book Prize

Financialisation In Latin America

Author : Noemi Levy
ISBN : 9780429874420
Genre : Business & Economics
File Size : 76. 15 MB
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Financial capital continues to dominate Western economic organisations, despite major financial and economic crises. While these have not affected Latin American countries in the same way, other economic problems emerged after the reversion of loose monetary policies that debilitated the export-led growth model. This book discusses the issue of the financialised globalisation model in Latin America, looking at the region’s relationship with the international market. This edited collection is divided into three main sections. The first section discusses regional trends highlighting issues of trade and payments in financialised economies, the impact on deindustrialisation, its effect on inequality, external capital movements and monetary policies. The second section analyses the failure of comparative advantages of the export-led model in Colombia, Argentina and Mexico. Finally, the last section deals with the growth of financial balance sheets in small and developing economies such as Chile; how growth, investment and big corporation evolution were affected in Brazil and Mexico; and the effects of foreign exchange activity in Mexico. Through these discussions, this book aims to deepen the understanding of the crisis of financialisation and the export-led model, raising the question of whether it is possible for this model to continue or if it requires major readjustments to unfold economic growth. This book provides a distinctive analysis of the financialisation mechanisms in developing countries in order to emphasise affinities and differences between the countries of the region in productive and financial terms. It will be of great interest to economic and social science scholars and students, to journalists specialising on economic and development issues, and, more importantly, to policy makers.

Political Economy Of Financialization In The United States

Author : Kurt Mettenheim
ISBN : 9781000449679
Genre : Business & Economics
File Size : 51. 56 MB
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Combining balance sheet analysis with historical institutional analysis, this book traces the evolution of social sector financial balance sheets in the US from 1960 to 2018. This innovative historical-institutional approach, ranging from the micro level of households to the macro level of the federal government, reveals that the displacement of households by banks has been a long-term process. This gradual compounding of financialization is at odds with widely accepted views about financialization, contemporary banking theory, financial intermediation theory, and post-Keynesian and endogenous money approaches. The book returns to time-tested traditional principles of banking and taps unexpected affinities about market failures in transaction cost economics, financial intermediation theory, and core ideas in classic modern political and social economy about economic moralities and social reactions of self-defense against unfettered markets. This book provides an alternative explanation for the rise of finance and new ways to think about averting financialization and its devastating consequences. This book marks a significant contribution to the literature on financialization, social economics, banking, and the American political economy.

The Second Automobile Revolution

Author : M. Freyssenet
ISBN : 9780230236912
Genre : Business & Economics
File Size : 58. 77 MB
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The rapid takeoff of the continent-sized national economies and the increasing expense of extraction have led to strong tensions in petrol prices and a race towards alternative driving systems. This book analyses the emergence of a second automobile revolution through the trajectories of automobile firms since the nineties.

Change In Smes

Author : K. Bluhm
ISBN : 9780230227781
Genre : Business & Economics
File Size : 53. 1 MB
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Most research on institutional features of distinct varieties of capitalism in Europe has analyzed only large corporations. This volume explores the impact of the institutional and structural changes on corporate governance, management culture, and social relationships in small and medium sized enterprises in different European countries.

Economic Ideas Policy And National Culture

Author : Eelke de Jong
ISBN : 9781000476484
Genre : Business & Economics
File Size : 85. 8 MB
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All human beings develop a certain view on the world, and individuals belonging to the same national cultures are likely to develop very similar views with one another. In this same manner, academic economists and policymakers are consistently exposed to the same view on the preferred way of organizing an economy as the rest of the population of their given country. This book explores the economic impacts of these shared cultural values, focusing on the wider economies of the USA, Germany, and France. These three countries represent broadly different types of economic organization and their corresponding economic ideologies: a free market economy, a coordinated market economy, and a hierarchical market economy. The contributors to this edited volume work to examine the extent to which the shared worldviews between academic economists, policymakers, the wider population, and the tradition of each economic thought in which the economy fits, impacts these economies. In particular, the chapters look at the design of the labor market, the financial system, competition policy, and monetary policy. The work also explores the extent to which the shared views on national culture and economic systems and policies in these countries contribute to the population’s well-being overall. This book makes an invaluable contribution to the literature on comparative economics, economic policy, well-being and cultural economics.

Markets In Their Place

Author : Russell Prince
ISBN : 9781000412192
Genre : Business & Economics
File Size : 48. 66 MB
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Markets are usually discussed in abstract terms, as an economic organizing principle, a generalized alternative to government planning, or even as powerful actors in their own right, able to shape local and national economic destinies. But markets are not abstract. Even as the idea of the market seduces politicians around the world to take advantage of their abstract qualities, they constantly run up against material reality. Markets are always somewhere, in place, and it is in place that the smooth theories of markets falter and fail. More than simply being embedded in particular places, markets necessarily emerge in the various political, social, cultural, and environmental relations that exist in and between places. Markets shape places, but the reverse is also true. This collection of essays approaches markets from the ground up, and from a part of the world often still regarded as peripheral to global capitalism: the South Pacific. With a wide variety of case studies, including on indigenous economies, childcare, agriculture, wine, electricity metering, finance, education, and housing, the authors show how complex local, social and cultural politics matter to how markets are made within and between places, and the insights that can be gleaned from studying markets in this part of the world. They explore the way superficially similar markets work out differently in different places, and why, as well as examining how market relations are constructed in places outside and on the edges of the centres of Western capitalism, and what this says back to how markets are understood in those centres. The book will be of particular interest to scholars and students working in and between economic geography, cultural economy, political economy, economic sociology, and more.

Explaining Wealth Inequality

Author : Benedict Atkinson
ISBN : 9781000470765
Genre : Business & Economics
File Size : 90. 21 MB
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This book discusses the origins of wealth inequality and explains how societies can reform to avoid the catastrophe of inequality-induced social breakdown. It develops a theoretical and practical understanding of the principles behind the concept of ownership and property, complete with historical examples. It proposes a new research perspective focusing on how the problem of wealth concentration is ameliorated by cooperative and collaborative initiatives to enhance the public sphere, without derogating from the private. The book is based on research data compiled from taxation and household data to explore the theme that wealth inequality is made inevitable by possessive behaviour expressed in possessive language. It shows that while inequality is inescapable, we can adopt policies where resources are more efficiently and broadly distributed for public benefit. Such policies are directed towards encouraging voluntary, as opposed to compulsory, wealth transfer to achieve public good. The primary market for the book consists of academics and students from the fields of economics, including growth and developmental economics, law, sociology, history, business and international trade. It also provides a practical resource for government policy analysts wanting to develop a more detailed understanding of the role played by wealth inequality in a range of social problems.

Financialisation In Crisis

Author :
ISBN : 9789004201088
Genre : Political Science
File Size : 27. 26 MB
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The turmoil of 2007-2009 is a crisis of financialised capitalism. This collected volume analyses financialisation by drawing on Marxist and heterodox theory of finance. It examines domestic and international aspects of financialisation, placing the crisis in its appropriate social context.

Financialisation In The European Periphery

Author : Ana Cordeiro Santos
ISBN : 9780429801419
Genre : Business & Economics
File Size : 21. 31 MB
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In many European countries, the process of financialisation has been exacerbated by the project of closer EU integration and accelerated as a result of austerity policies introduced after the Euro crisis of 2010–2012. However, the impact has been felt differently in core and peripheral countries. This book examines the case of Portugal, and in particular the impact on its economy, work and social reproduction. The book examines the recent evolution of the Portuguese economy, of particular sectors and systems of social provision (including finance, housing and water), labour relations and income distribution. In doing so, it offers a comprehensive critical analysis of varied aspects of capital accumulation and social reproduction in the country, which are crucial to understand the effects of the official ‘bail-out’ of 2011 and associated austerity adjustment program. The book shows how these have increasingly relied on deteriorating pay and working conditions and households’ direct and indirect engagement with the global financial system in new domains of social reproduction. Through its exploration of the Portuguese case, the book presents a general theoretical and methodological framework for the analysis of financialisation processes in peripheral countries. This text is essential reading for students and scholars of political economy, development, geography, international relations and sociology with an interest in examining the uneven mechanisms and impacts of global finance.

Corporate Governance Employee Voice And Work Organization

Author : Inge Lippert
ISBN : 9780191502828
Genre : Business & Economics
File Size : 63. 67 MB
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Corporate Governance, Employee Voice, and Work Organization explores the dynamic relations between corporate governance, employee voice, and the organization of work in the automotive supply industry. It reports on research undertaken in three countries—Germany, Sweden, and the United States—that has sought to explore and compare historical patterns of the relationships between changing governance regimes, voice, and work at plant level in an era of financialization. It also explores the prospects for high-road, sustainable jobs in the sector. Three detailed case histories from each of the countries are presented which contrast companies facing three different levels of exposure to capital markets: companies relatively sheltered from stock markets; companies that are highly exposed to them; and thirdly companies owned by private equity firms. This design allows for analysis not just across different national contexts but also within them, and questions the usefulness of the 'varieties of capitalism' appraoch in understanding these differences. The cases show that governance compromises matter, that is, that recognising the role of employee voice in corporate governance regimes is essential in any comparative analysis and understanding of corporate governance.

Politics And Power In The Multinational Corporation

Author : Christoph Dörrenbächer
ISBN : 9781139500012
Genre : Business & Economics
File Size : 53. 72 MB
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This book was first published in 2011. The current financial and economic crisis has negatively underlined the vital role of multinational companies (MNCs) in our daily lives. The breakdown and crisis of flagship MNCs, such as Enron, WorldCom, Lehman Brothers, Toyota and General Motors, does not merely reveal the problems of corporate malfeasance and market dysfunction. It also raises important questions, both for the public and the academic community, about the use and misuse of power by MNCs in the wider society, as well as the exercise of power by key actors within internationally operating firms. This book examines how issues of power and politics affect MNCs at three different levels; the macro-level, the meso-level and the micro-level. This wide-ranging analysis shows not only that power matters but also how and why it matters, pointing to the political interactions of key power holders and actors within the MNC, both managers and employees.

New Frontiers Of The Automobile Industry

Author : Alex Covarrubias V.
ISBN : 9783030188818
Genre : Business & Economics
File Size : 84. 5 MB
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Analysing developments in digital technologies and institutional changes, this book provides an overview of the current frenetic state of transformation within the global automobile industry. An ongoing transition brought about by the relocation of marketing, design and production centres to emerging economies, and experimentation with new mobility systems such as electrical, autonomous vehicles, this process poses the question as to how original equipment manufacturers (OEMs) and newcomers can remain competitive and ensure sustainability. With contributions from specialists in the automobile sector, this collection examines the shifts in power and geographical location occurring in the industry, and outlines the key role that public policy has in generating innovation in entrepreneurial states. Offering useful insights into the challenges facing emerging economies in their attempts to grow within the automobile industry, this book will provide valuable reading for those researching internationalization and emerging markets, business strategy and more specifically, the automotive industry.

Globalization Or Regionalization Of The American And Asian Car Industry?

Author : M. Freyssenet
ISBN : 9780230554818
Genre : Business & Economics
File Size : 85. 60 MB
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The automobile sector is one of the most archetypal global industries and is seen by many as one of the main drivers behind the homogenisation of world markets due to firms' internationalization strategies and the social practices that firms impose. This book argues that this is not entirely the case due to the heterogeneity of firms and the diversity of strategies pursued. It highlights the diversity and forms of internationalization and the preference for regionalization rather than globalization that has occurred over the past decade. This book looks specifically at the American and Asian car industry.

Ecology Capitalism And The New Agricultural Economy

Author : Gilles Allaire
ISBN : 9781351210027
Genre : Science
File Size : 40. 6 MB
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With increasing pressure on resources, the looming spectre of climate change and growing anxiety among eaters, ecology and food are at the heart of the political debates surrounding agriculture and diet. This unique contribution unravels agri-environmental issues at different spatial levels, from local to global, documenting the major shifts in agriculture from a long-term perspective. The book begins by exploring the changes in the industrialisation and socialisation of agriculture over time, through the lens of institutional economics including The French Regulation School and Conventions Theory. Building on Polanyi’s ‘Great Transformation’, the chapters in this volume analyse long-term and contemporary changes in agriculture and food systems that have occurred throughout the last few centuries. Key chapters focus on the historical changes in provisioning and the social relations of production, consumption, and regulation of food in different socio-political contexts. The future of agriculture is addressed through an analysis of controversial contemporary political claims and their engagement with strategies that aim to improve the sustainability of agriculture and food consumption. To shed light on ongoing changes and the future of food, this book asks important environmental and social questions and analyses how industrial agriculture has played out in various contexts. It is recommended supplementary reading for postgraduates and researchers in agricultural studies, food studies, food policy, the agri-food political economy and political and economic geography.

Restructuring In The New Eu Member States

Author : Marie-Ange Moreau
ISBN : 9052014566
Genre : Law
File Size : 80. 4 MB
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This book presents a series of extremely stimulating analyses of the process of corporate restructuring in the new Member States of the EU. Particularly noteworthy is the book's focus on the Central and Eastern European Countries (CEECs) that have joined the EU since 2004, an area which has not been prominent in the research on corporate restructuring conducted in Western Europe in the last twenty years. As with their Asian counterparts, these States have generally been perceived as a threat to employment in Western Europe due to the former's benefiting from outsourcing away from the latter. By moving east, the book allows for a different perspective on the restructuring process, by placing it in the context of both Europe and the numerous changes affecting the CEECs. The book seeks to understand the impact of European- and national-level policies on the concept of restructuring, the role of the «acquis communautaire», and the place of social and political actors in the process of change in the context of new Member States, where multinational firms have developed mobility and establishment strategies within the context of broader European and global ones. The density of this collection, its wealth in terms of substantive teachings, and its use of a comparative and multidisciplinary approach that links law, political science, sociology and economics make it an essential resource for those wishing to understand restructuring in the European space after the enlargements of 2004 and 2007 and the impact of European policies and the European Social Model.

Managing Culture And Interspace In Cross Border Investments

Author : Martina Fuchs
ISBN : 9781317399452
Genre : Business & Economics
File Size : 46. 54 MB
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This book focuses on the dialectics between spatio-organisational gaps and local contexts that characterise cross-border investments. "Interspatial" investments – be it mergers & acquisitions (M&A) or greenfield investments – are usually characterised by what is referred to as "otherness", i.e. organisational and cultural distances of the firms involved in relation to their regional contexts. At the same time, economic, political and socio-cultural linkages are decisive for attracting cross-border investments to regions and for providing firms with conditions supportive of their market success. As a consequence of being locked into complex structures of proximities, cross-border investments are situated in contested terrain. This terrain triggers learning processes in both regional actors and investors, which can result in the convergence of mindsets and organisational issues. This book is unique in that it combines interspace (defined as the distance between the new owner and the cross-border venture), place (the target region), interpretation (perception and understanding of the investment by the actors involved) and context (institutions, actor networks and interaction), thus offering better understanding of recent processes of globalisation. Crossing disciplinary boundaries by integrating economic geography and management studies, the volume adopts an innovative and spatially informed perspective on foreign direct investments (FDI). This perspective will be of great value to scholars, students and practitioners. The volume is inventive in its approach in that it offers fresh readings from interdisciplinary theoretical approaches and combines these with valuable empirical insights from developed as well as Emerging Economies.

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