Managing managers
Has power been centralized or decentralized in firms?
Decentralized
What are shareholders?
Banks during this time were unsatisfied and wanted to become less regulated.
What is 1970's
Do managers have more or less independence to make decisions?
More independence
This type of action is when the largest players optimize their interests through individual or collective strategies to advance shareholder interests.
What is concerted action?
The US economy was once based on the production of goods but with financialization, is now based on?
What is services and finance.
What have firms shifted their energy towards in terms of managers?
grooming and selecting managers
Once an unwanted/hostile takeover bidder accumulates a certain amount of stock, shareholders can purchase stock at a discounted price to prevent a hostile takeover.
What is the poison pill?
These firms created finance units originally intended to support consumer purchases but then eventually overshadowed manufacturing or retail activities.
What is Non-Financial firms.
What has caused the shift in manager independence and selection?
The new focus on shareholder value
As a result of this group taking over the power to evaluate firms achievements, firms redesigned their internal organization to meet different objectives.
Who are shareholders?
With expanded credit and volatile interest rates as an enduring feature of a deregulated economic environment, firms demanded this kind of outcome.
What is high return on investment in shorter time periods.
What is the new role that has been created for grooming and choosing managers within companies?
Vice President for executive resources
Shareholders have this type of influence through reformation of corporate governance and restoration of shareholder rights.
What is indirect influence?
According to Krippner, these two discrete measures (ratio) of financialization was used as a systematic evaluation of evidence on the US Economy.
What is Portfolio Income and Corporate Cash Flow.