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Wages Bonuses And Appropriation Of Profit In The Financial Industry

Author: Olivier Godechot
Publisher: Routledge
ISBN: 1317301129
Size: 44.36 MB
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The 2008 financial crisis led the whole world to ask questions of the financial industry. Why are wages in the financial industry so high? Are bonuses responsible for the financial crisis? Where do bonuses come from? Politicians and others urged people to believe that the crisis was the price of Wall Street’s greed and blamed the "bonus culture" prevalent in the financial industry. However, despite widespread condemnation and the threat of tighter regulation, bonuses in the industry have proven remarkably resilient. Wages, Bonuses and Appropriation of Profit in the Financial Industry provides an in-depth inquiry into the bonus system. Drawing on examples from France, the City and Wall Street, it explains how and why workers in the financial industry can receive such large bonuses. The book examines issues around incentives, morality and wealth-sharing among employees, including the rise of "the working rich" – those who have benefited the most from the high wages and large bonuses on offer to some employees. These people have achieved wealth through their work thanks to new forms of exploitation in our ever-more dematerialised economy. This book shows how the most mobile employees holding the most mobile assets can exploit the most immobile stakeholders. In a world where inequalities are rising sharply, this book is therefore an important study of one of the key contemporary issues. It will be of vital interest to those studying finance, banking or political economy.

Finance At Work

Author: Valérie Boussard
Publisher: Routledge
ISBN: 1315470276
Size: 19.37 MB
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In the collective psyche, a financier is a capitalist. In managerial capitalism, the notion of the ‘manager’ emerged, and the role of the manager was distinct from the role of the ‘owner’. Financial capitalism is similarly underpinned by financiers who are not the holders of the financial assets they buy, sell, trade or advise upon. Finance at Work explores the world of financiers, be they finance-oriented CEOs, CFOs, financial journalists, mergers and acquisitions’ advisors or wealth managers. Part I investigates the professional trajectories of members of corporate boards and financialisation as the dissemination of financial logic outside its primary ‘iron cage’; Part II responds by studying financiers at work within financial occupations or financial operations involving external actors; while Part III pursues the issue of financial boundaries by seeking out the way financial logic crosses these boundaries. Part IV takes back the hypothesis of differentiations within finance presented in Part I, and analyses the internal boundaries of asset management, wealth management and leveraged buyout (LBO) acquisitions. This book is essential reading for researchers and academics within the field of finance who aim to understand the ‘spread of finance’ in contemporary societies.

Capital Flows Financial Markets And Banking Crises

Author: Chia-Ying Chang
Publisher: Routledge
ISBN: 1315469391
Size: 11.35 MB
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The increasing capital flows in the emerging markets and developed countries have raised various concerns worldwide. One main concern is the impact of the sharp decline of capital flows – so-called sudden stops – on financial markets and the stability of banking systems and the economy. The sudden stops and banking crises have been identified as the two main features of most financial crises, including the recent Asian Financial Crisis and Global Financial Crisis. However, how capital flows and banking crises are connected still remains unanswered. Most current studies on capital flows are empirical work, which faces various challenges. The challenges include how data has been collected and measured in each country and how sensitive the results are to the data and the adopted methodologies. Moreover, the links between capital flows and banking systems have been neglected. This book helps provide some insight into the challenges faced by empirical studies and the lessons of the recent crises. The book develops theoretical analysis to deepen our understanding on how capital flows, banking systems and financial markets are linked with each other and provides constructive policy implications by overcoming the empirical challenges.

The Rise And Development Of Fintech

Author: Robin Teigland
Publisher: Routledge
ISBN: 1351183605
Size: 57.27 MB
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This comprehensive guide serves to illuminate the rise and development of FinTech in Sweden, with the Internet as the key underlying driver. The multiple case studies examine topics such as: the adoption of online banking in Sweden; the identification and classification of different FinTech categories; process innovation developments within the traditional banking industry; and the Venture Capital (VC) landscape in Sweden, as shown through interviews with VC representatives, mainly from Sweden but also from the US and Germany, as well as offering insight into the companies that are currently operating in the FinTech arena in Sweden. The authors address questions such as: How will the regulatory landscape shape the future of FinTech companies? What are the factors that will likely drive the adoption of FinTech services in the future? What is the future role of banks in the context of FinTech and digitalization? What are the policies and government initiatives that aim to support the FinTech ecosystem in Sweden? Complex concepts and ideas are rendered in an easily digestible yet thought-provoking way. The book was initiated by the IIS (the Internet Foundation in Sweden), an independent organization promoting the positive development of the Internet in the country. It is also responsible for the Internet’s Swedish top-level domain .se, including the registration of domain names, and the administration and technical maintenance of the national domain name registry. The book illustrates how Sweden acts (or does not act) as a competitive player in the global FinTech arena, and is a vital addition to students and practitioners in the field.

Imaginierte Zukunft

Author: Jens Beckert
Publisher: Suhrkamp Verlag
ISBN: 3518757229
Size: 31.72 MB
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Im kapitalistischen Wirtschaftssystem richten Konsumenten, Investoren und Unternehmerinnen ihr Handeln auf die Zukunft aus. Diese birgt Chancen und Risiken, ist aber vor allem eines: ungewiss. Wie gehen die Akteure mit dieser Ungewissheit um? Ökonomen beantworten diese Frage mit verschiedenen Theorien, die auf die Berechenbarkeit des Marktes setzen. Dadurch wird die Nichtvorhersagbarkeit der Zukunft unterschätzt. Jens Beckert nimmt die temporale Ordnung des modernen Wirtschaftslebens ernst und entwickelt einen neuen Blick auf die Dynamik des Kapitalismus. Im Mittelpunkt seiner Untersuchung stehen die fiktionalen Erwartungen der Akteure – Imaginationen und Narrative darüber, was die Zukunft bringt. Mit den Instrumenten der Soziologie und der Literaturtheorie liefert er eine umfassende Typologie dieser Erwartungen, untersucht ihre Funktionsweisen in Bereichen wie Geld, Innovation und Konsum und zeigt vor allem, wie mächtig sie sind. Fiktionale Erwartungen sind der Treibstoff der Ökonomie, können diese aber auch in tiefe Krisen stürzen, wenn sie als hohle Narrative entlarvt werden. Dann platzt die Blase. Ein fulminantes Buch.

Die Feinen Unterschiede

Author: Pierre Bourdieu
Publisher:
ISBN: 9783518576250
Size: 39.43 MB
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Die Analyse des kulturellen Konsums ist für alle von Interesse, die geneigt sind, ihre eigenen, meist als selbstverständlich aufgefassten kulturellen Vorlieben und Praktiken zu prüfen. Der Reiz und das Verdienst des Buches liegen darin, dass der Autor immer im Kontakt zum konkreten Alltag bleibt. Die Lektüre der Feinen Unterschiede wird ein spannender Selbsterfahrungsprozess.

Elitesoziologie

Author: Michael Hartmann
Publisher: Campus Verlag
ISBN: 3593374390
Size: 49.36 MB
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Über Eliteuniversitäten und die Notwendigkeit von Eliten wird zurzeit heftig diskutiert. Aber was sind eigentlich Eliten? Was zeichnet sie aus? Sind Eliten und Demokratie überhaupt miteinander vereinbar? Michael Hartmann stellt im ersten Teil dieser Einführung die wichtigsten Elitetheorien der letzten 120 Jahre - von Mosca bis Bourdieu - in ihren wesentlichen Elementen vor und kommentiert sie kritisch. Ebenso wichtig für jeden, der sich mit Elitesoziologie beschäftigt, ist die Analyse der Eliten in den entwickelten Industrieländern, die Gegenstand des zweiten Teils sind: Wer besetzt in Wirtschaft, Politik, Verwaltung, Justiz oder Wissenschaft die Spitzenpositionen und welches sind ihre Funktionen? Michael Hartmann stellt dar, wie sich die maßgeblichen Eliten in den fünf größten Industriestaaten (Deutschland, Frankreich, Großbritannien, Japan und USA) rekrutieren, und untersucht ihre soziale Herkunft und Homogenität. Damit verbindet er auf anschauliche Weise Theorie und Empirie dieses wichtigen Teilgebiets der Soziologie.