Chains of Finance
How Investment Management is Shaped
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23 166 Ft
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Product details:
- Publisher OUP Oxford
- Date of Publication 29 June 2017
- ISBN 9780198802945
- Binding Hardback
- No. of pages206 pages
- Size 240x160x18 mm
- Weight 480 g
- Language English 0
Categories
Short description:
This book suggests that investment decisions cannot be understood by focusing on isolated investors. Rather, most of their money flows through a chain: a sequence of intermediaries that 'sit between' savers and companies/governments. It argues that investment management is shaped by the opportunities and constraints that this chain creates.
MoreLong description:
Investment is no longer a matter of individual savers directly choosing which shares or bonds to buy. Rather, most of their money flows through a 'chain': an often extended sequence of intermediaries. What goes on in that chain is of huge importance: The world's investment managers, who are now almost as well paid as top bankers, control assets equivalent in value to around a year of total global economic output.
In Chains of Finance, five social scientists discuss the ways in which the intermediaries in the chain influence each other, channel the flows of savers' money, enhance investment decisions, and form audiences for each other's performances of financially competent selves. The central argument of the book is that investment management is fashioned profoundly by the opportunities and constraints this chain creates. Whether chains constrain or enable, however, they always entangle, tying intermediaries to each other - silently and profoundly shaping the investment management industry. Chains of Finance is a novel analysis that will make students, social scientists, financial professionals, and regulators looking at the workings of financial markets in a new light. A must-read for anyone looking for insights into the decision-making processes of investment managers and those influenced by and working for them.
Table of Contents:
Investment Management and the Investment Chain
Chains of Freedom: The Investment Chain Inside the Investment Management Firm
Fund Managers and their Investors
Quantitative Asset Managers and their Chains
Entangled Trading: Fund Managers and Dark Pools
Bringing Society back into the Investment Chain: Responsible Investing During the Financial Crisis
Trapped in Resistance: Collective Struggles through the Investment Chain
Conclusion
Appendix. A brief roster of intermediaries
