O Nesefi convida para a palestra “Financialization and Intermediaries/Business Elites” do Prof. Dr. Ismail Ertürk, professor da Manchester Business School.
Período da atividade: 10 de outubro de 2008.
Confira o resumo enviado pelo pesquisador:
One of the defining outcome of the financialized economy is the rise of capital market intermediaries and business elites. Mainstream economics and finance highlighted the agency problem between managers and owners in modern firms. However, financialized economy introduced new actors like consultants, investment bankers, audit firms, lawyers, hedge funds, private equity firms who play equally important role in determining firm behaviour and corporate governance. In my presentation I will talk about the failure of corporate governance initiatives and how CEOs and managers enrich themselves in a financialized economy by referring to various works by Ertürk, Froud, Johal, Leaver and Williams on executive pay and corporate governance. I will also discuss how a financialized economy empowers and enriches new intermediaries like consultants, investment bankers, private equity etc who are ignored by mainstream economics and finance in corporate governance debates by referencing Financialization at Work by Ertürk, Froud, Johal, Leaver and Williams. The rise of capital market intermediaries and elites necessitates new research programmes where sociology and ethnography of finance are emphasized.
