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Financialisation of strategies, risk transfer, liquidity, property and control (In French)

Author

Listed:
  • Tristan AUVRAY (LEREPS-GRES)
  • Gabriel COLLETIS (coord.) - (LEREPS-GRES)
  • Stéphanie LAVIGNE (ESC Toulouse - LEREPS-GRES)
  • Matthieu MONTALBAN (GREThA-GRES)
  • François MORIN (LEREPS-GRES)
  • Geoffroy RADURIAU (LEREPS-GRES)

Abstract

The financialisation of strategies, as mentioned in the introduction, may be correlated with the dominant link between investment and funding. The principle of selection no longer seems to focus essentially on investment funding methods, but on investments themselves, according to a financial profitability criterion. The first part of the text deals with the question of “risk transfer”. The second part examines financialisation from the point of view of the principle of liquidity by emphasizing the importance of the assessment which markets exercise on the firms’ financial performance, but also on their industrial. The question of the link between property and control is dealt with in the third part of the text. It is explored in two phases: the link between structure and property rights on the one hand; the link between governance structure and resource allocation on the other hand. The general conclusion suggests placing the financial capital issue between science and magic. The conclusion is organized in two phases: the first phase means to emphasize three transverse dimensions of the financialisation process; the second phase proposes to put that process into a sequence going from the production of representations to the production of norms, to the question of the financialised firm’s model.

Suggested Citation

  • Tristan AUVRAY (LEREPS-GRES) & Gabriel COLLETIS (coord.) - (LEREPS-GRES) & Stéphanie LAVIGNE (ESC Toulouse - LEREPS-GRES) & Matthieu MONTALBAN (GREThA-GRES) & François MORIN (LEREPS-GRES) & Geoffroy R, 2007. "Financialisation of strategies, risk transfer, liquidity, property and control (In French)," Cahiers du GRES (2002-2009) 2007-09, Groupement de Recherches Economiques et Sociales.
  • Handle: RePEc:grs:wpegrs:2007-09
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    Keywords

    Financialisation; risks; evaluation; liquidity; control; governance; external growth; representations; (business) models; (accounting) standards;

    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
    • L23 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Organization of Production
    • L24 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Contracting Out; Joint Ventures
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • M49 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Other
    • M55 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Labor Contracting Devices

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