Financialisation

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Financialisation may be defined as: "the increasing dominance of the finance industry in the sum total of economic activity, of financial controllers in the management of corporations, of financial assets among total assets, of marketised securities and particularly equities among financial assets, of the stock market as a market for corporate control in determining corporate strategies, and of fluctuations in the stock market as a determinant of business cycles" (Dore 2002)

[edit] References

• Baker, A (2005). IPE, Corporate Governance and the New Politics of Financialisation: Issues Raised by Sarbanes-Oxley

• Dore, R (2000). Stock Market Capitalism: Welfare Capitalism: Japan and Germany vs. the Anglo-Saxons. Oxford: Oxford University Press. ISBN 0-19-924061-2.