The DOI matches its Crossref record; 4 of the 4 references it cites were found in a registry or an index.
Financialisation and capital accumulation in the non-financial corporate sector:: A theoretical and empirical investigation on the US economy: 1973-2003
Abstract
I discuss the impact of financialisation on real capital accumulation in the US. Using data from a sample of non-financial corporations from 1973 to 2003, I find a negative relationship between real investment and financialisation. Two channels can help explain this negative relationship: first, increased financial investment and increased financial profit opportunities may have crowded out real investment by changing the incentives of firm managers and directing funds away from real investment. Second, increased payments to the financial markets may have impeded real investment by decreasing available internal funds, shortening the planning horizons of the firm management and increasing uncertainty. Copyright The Author 2008. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved., Oxford University Press.
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Cites
Monetary policy, business cycles, and the behavior of small manufacturing firms
Gertler, M., & Gilchrist, S. (1994) · The Quarterly Journal of Economics · doi:10.2307/2118465 · Cited by 2,547
Maximizing shareholder value: a new ideology for corporate governance
Lazonick, W., & O'Sullivan, M. (2000) · Economy and Society · doi:10.1080/030851400360541 · Cited by 1,970
Financialisation and the slowdown of accumulation
Stockhammer, E. (2004) · Cambridge Journal of Economics · doi:10.1093/cje/beh032 · Cited by 1,103
A new business model? The capital market and the new economy
Feng, H., Froud, J., Johal, S., Haslam, C., & Williams, K. (2001) · Economy and Society · doi:10.1080/03085140120089063 · Cited by 117
Cited by
Did financialization reduce economic growth?
Tomaskovic-Devey, D., Lin, K.-H., & Meyers, N. (2015) · Socio-Economic Review · doi:10.1093/ser/mwv009 · Cited by 180
Financialization, non-financial corporations and income inequality: the case of France
Alvarez, I. (2015) · Socio-Economic Review · doi:10.1093/ser/mwv007 · Cited by 177
Oil in parallax: Scarcity, markets, and the financialization of accumulation
Labban, M. (2010) · Geoforum · doi:10.1016/j.geoforum.2009.12.002 · Cited by 149
Commodity traders in a storm: Financialization, corporate power and ecological crisis
Baines, J., & Hager, S. B. (2022) · Review of International Political Economy · doi:10.1080/09692290.2021.1872039 · Cited by 29
Metadata
- Authors
- Orhangazi, O.
- Venue
- Cambridge Journal of Economics
- Publisher
- Oxford University Press (OUP)
- Published
- 2008-04-09
- Volume
- 32
- Issue
- 6
- Pages
- 863-886
- ISSN
- 0309-166X (ISSN-L)
- 1464-3545
- OpenAlex
- W2156324400
- Cited by
- 968
- References
- 4
- FWCI
- 30.91
- Type
- journal article
- Language
- en
- Open access
- closed
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- Orhangazi, O. (2008). Financialisation and capital accumulation in the non-financial corporate sector:: A theoretical and empirical investigation on the US economy: 1973-2003. Cambridge Journal of Economics. https://doi.org/10.1093/cje/ben009
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