The New Structuring of Corporate Ownership
Author(s)
Peetz, David
Murray, Georgina
Nienhueser, Werner
Year published
2013
Metadata
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In looking at dispersion or concentration of ownership within corporations, little attention has been given to the dispersion or concentration of ownership across corporations. We examined ownership in 929 of the largest corporations in four countries. We found: the growing concentration of ownership in the hands of finance capital over the past three decades; the significance of industrial capital as an owner of other industrial capital in the other three countries but its total subservience to finance capital in the USA; the continuing significance of key individuals and families as owners in Germany, albeit as only a ...
View more >In looking at dispersion or concentration of ownership within corporations, little attention has been given to the dispersion or concentration of ownership across corporations. We examined ownership in 929 of the largest corporations in four countries. We found: the growing concentration of ownership in the hands of finance capital over the past three decades; the significance of industrial capital as an owner of other industrial capital in the other three countries but its total subservience to finance capital in the USA; the continuing significance of key individuals and families as owners in Germany, albeit as only a declining minority, whereas they are of little significance elsewhere; and the stable or falling profile of banks alongside the growing role in each country of other 'financial corporations'. We also found the minor role of the state outside of Germany; and, most importantly, the emergence of a small number of key corporations in finance capital that, through funds management in particular, repeatedly take leading shareholder positions in firms in the US and, to a lesser extent, other countries. Al observar la dispersi㮠o concentraci㮠de la propiedad dentro de las corporaciones, poca atenci㮠se ha dado a la dispersi㮠o concentraci㮠de la propiedad entre las corporaciones. Hemos examinado las propiedades de 929 corporaciones que se encuentran entre las m᳠grandes, en cuatro pa�s. Encontramos: el crecimiento de la concentraci㮠de la propiedad en manos del capital financiero durante las tres ꬴimas d飡das; la trascendencia del capital industrial como propietario del capital industrial en los otros tres pa�s, pero que es totalmente subordinado al capital financiero en los E.E.U.U.; la continua importancia de individuos y familias claves como propietarios en Alemania, a pesar de ser solo una minor�declinante, mientras que son de poca importancia en otra parte; y el perfil estable o en decadencia de los bancos junto al rol en cada pa�de otras 'corporaciones financieras'. Tambi鮠hallamos una funci㮠menor del estado fuera de Alemania; y lo m᳠importante, el surgimiento de un pequeᯠnꭥro de corporaciones claves en capital financiero que particularmente a trav鳠de la gesti㮠de los fondos, repetidamente toman posiciones de liderazgo en firmas en los E.E. U.U. y en menor grado, en otros pa�s. 929 "" ??? ????? ?? ????? ????? ?? ???? ??????? ???? ???????? ?? ????? ?????? ????? ??????? ????? ??? ???????. ??? ??? ?????? ???? ????? 929 ?? ???? ??????? ?? ????? ?????. ???? ??? ?? ???: ?????? ???????? ??????? ?? ???? ??? ????? ?????? ???? ?????? ??????? ???????? ????? ??? ????? ??????? ????? ??????? ????? ?? ??????? ??????? ?????? ???? ?? ??????? ???? ????? ?????? ?? ???????? ???????? ??????? ????? ?????? ??????? ????????? ???????? ????? ?? ??????? ??? ????? ???? ????? ??????? ????? ?????? ??????? ????? ?? ????? ????? ???????? ??????? ?????? ????? ???????? ?? ????? ???????? ?? ?? ??? "??????? ???????". ??? ??? ?????? ????? ?????? ?????? ???? ???????? ?????? ?? ???? ??? ???? ?? ??????? ???????? ?? ???? ??? ????? ??????? ??? ??????? ???? ????? ???? ?????- ?? ???? ????? ???????? ???? ???- ?????? ?????? ?????? ?? ??????? ?????????? ??? ??????? ?????? ????? ???.
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View more >In looking at dispersion or concentration of ownership within corporations, little attention has been given to the dispersion or concentration of ownership across corporations. We examined ownership in 929 of the largest corporations in four countries. We found: the growing concentration of ownership in the hands of finance capital over the past three decades; the significance of industrial capital as an owner of other industrial capital in the other three countries but its total subservience to finance capital in the USA; the continuing significance of key individuals and families as owners in Germany, albeit as only a declining minority, whereas they are of little significance elsewhere; and the stable or falling profile of banks alongside the growing role in each country of other 'financial corporations'. We also found the minor role of the state outside of Germany; and, most importantly, the emergence of a small number of key corporations in finance capital that, through funds management in particular, repeatedly take leading shareholder positions in firms in the US and, to a lesser extent, other countries. Al observar la dispersi㮠o concentraci㮠de la propiedad dentro de las corporaciones, poca atenci㮠se ha dado a la dispersi㮠o concentraci㮠de la propiedad entre las corporaciones. Hemos examinado las propiedades de 929 corporaciones que se encuentran entre las m᳠grandes, en cuatro pa�s. Encontramos: el crecimiento de la concentraci㮠de la propiedad en manos del capital financiero durante las tres ꬴimas d飡das; la trascendencia del capital industrial como propietario del capital industrial en los otros tres pa�s, pero que es totalmente subordinado al capital financiero en los E.E.U.U.; la continua importancia de individuos y familias claves como propietarios en Alemania, a pesar de ser solo una minor�declinante, mientras que son de poca importancia en otra parte; y el perfil estable o en decadencia de los bancos junto al rol en cada pa�de otras 'corporaciones financieras'. Tambi鮠hallamos una funci㮠menor del estado fuera de Alemania; y lo m᳠importante, el surgimiento de un pequeᯠnꭥro de corporaciones claves en capital financiero que particularmente a trav鳠de la gesti㮠de los fondos, repetidamente toman posiciones de liderazgo en firmas en los E.E. U.U. y en menor grado, en otros pa�s. 929 "" ??? ????? ?? ????? ????? ?? ???? ??????? ???? ???????? ?? ????? ?????? ????? ??????? ????? ??? ???????. ??? ??? ?????? ???? ????? 929 ?? ???? ??????? ?? ????? ?????. ???? ??? ?? ???: ?????? ???????? ??????? ?? ???? ??? ????? ?????? ???? ?????? ??????? ???????? ????? ??? ????? ??????? ????? ??????? ????? ?? ??????? ??????? ?????? ???? ?? ??????? ???? ????? ?????? ?? ???????? ???????? ??????? ????? ?????? ??????? ????????? ???????? ????? ?? ??????? ??? ????? ???? ????? ??????? ????? ?????? ??????? ????? ?? ????? ????? ???????? ??????? ?????? ????? ???????? ?? ????? ???????? ?? ?? ??? "??????? ???????". ??? ??? ?????? ????? ?????? ?????? ???? ???????? ?????? ?? ???? ??? ???? ?? ??????? ???????? ?? ???? ??? ????? ??????? ??? ??????? ???? ????? ???? ?????- ?? ???? ????? ???????? ???? ???- ?????? ?????? ?????? ?? ??????? ?????????? ??? ??????? ?????? ????? ???.
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Journal Title
Globalizations
Volume
10
Issue
5
Subject
Social change