The Influence of the Financial Revolution on the Nature of Firms

17 Pages Posted: 10 May 2001  

Raghuram G. Rajan

University of Chicago - Booth School of Business; International Monetary Fund (IMF); National Bureau of Economic Research (NBER)

Luigi Zingales

University of Chicago - Booth School of Business; National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR)

Multiple version iconThere are 3 versions of this paper

Date Written: May 2001

Abstract

Major technological, regulatory, and institutional changes have made finance more widely available in recent years, amounting to a bona fide 'financial revolution'. In this article, we focus on the impact the financial revolution has had on the way firms are (or should be) organized and managed, and on the policy consequences.

Keywords: Corporate governance, financial revolution, theory of the firm

JEL Classification: L20

Suggested Citation

Rajan, Raghuram G. and Zingales, Luigi, The Influence of the Financial Revolution on the Nature of Firms (May 2001). CEPR Discussion Paper No. 2782. Available at SSRN: https://ssrn.com/abstract=269374

Raghuram G. Rajan (Contact Author)

University of Chicago - Booth School of Business ( email )

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International Monetary Fund (IMF) ( email )

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National Bureau of Economic Research (NBER)

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773-702-9299 (Phone)
773-702-0458 (Fax)

Luigi Zingales

University of Chicago - Booth School of Business ( email )

5807 S. Woodlawn Avenue
Chicago, IL 60637
United States
773-702-3196 (Phone)
773-834-2081 (Fax)

National Bureau of Economic Research (NBER)

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Cambridge, MA 02138
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Centre for Economic Policy Research (CEPR)

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United Kingdom

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