Financialization and Strategy

Financialization and Strategy

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Considering the recent impact of the capital market on corporate strategy, this text analyzes, through argument and supportive case studies, how pressures from the capital bull market of the 1990s and bear market of the early 2000s, have reshaped management action and calculation in large, publicly quoted US and UK corporations. Beginning with the dissatisfaction with classical strategy and its limited engagement with the processes of financialization, the book moves on to cover three detailed company case studies (General Electric, Ford and GlaxoSmithKline) which use long run financial data and analysis of company and industry narratives to illustrate and explore key themes. The book emphasizes the importance of company and industry narrative, while also analyzing long term financial results, and helps to explain the limits of management action and the burden of expectations placed on corporate governance. Presenting financial and market information on trajectory in an accessible way, this book provides a distinctive, critical social science account of management in large UK and US corporations, and it is a valuable resource for students, scholars and researchers of business, management, political economy and non-mainstream economics. short listed for the 2007 IPEG Book Prize(GE Annual Report 2000: 2) All this was a considerable achievement for Jack and GE who continuously reinvented themselves for twenty years. ... But, as we saw in the case of Ford, other firms had their own initiatives, and the main difference is that the GE initiatives were ... rises in profit and market value provide the context for the sustained fascination with the company by outside commentators. ... (2002) have made one of GEa#39;s initiatives the focus for a 300page book, The GE WorkOut,

Title:Financialization and Strategy
Author:Julie Froud, Sukhdev Johal, Adam Leaver, Karel Williams
Publisher:Routledge - 2006-04-18


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