Wayward agents, dominant elite, or reflection of internal diversity? A critique of Folkman, Froud, Johal and Williams on financialisation and financial intermediaries

Geoffrey Wood and Mike Wright

Business History, 2010, vol. 52, issue 7, 1048-1067

Abstract: Based on their earlier work on managerial capitalism and the literature on financialisation, P. Folkman, J. Froud, S. Johal, and K. Williams (2007, 'Working for themselves: Financial intermediaries and present day capitalism', Business History, 49(4), 552-572) argue that the rise of capital market intermediaries has both eroded traditional managerial power, and constitutes a powerful interest grouping with a distinct agenda that has a vested interest in permanent corporate restructuring and redistribution away from traditional stakeholders in the firm and, ultimately, shareholders as well. This paper critically evaluates these assumptions and conclusions. It specifically critiques the underlying assumptions of the Folkman et al. paper, and explores its relevance to understanding the changing relationship between stakeholders, and, indeed, the 2008 financial crisis.

Keywords: financialisation; private equity; intermediaries, (search for similar items in EconPapers)
Date: 2010
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.tandfonline.com/doi/abs/10.1080/00076791.2010.523458 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:bushst:v:52:y:2010:i:7:p:1048-1067

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/FBSH20

DOI: 10.1080/00076791.2010.523458

Access Statistics for this article

Business History is currently edited by Professor John Wilson and Professor Steven Toms

More articles in Business History from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().