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Humanities and Social Sciences (dawna nazwa: Ekonomia i Nauki Humanistyczne)

Humanities and Social Sciences
(dawna nazwa: Ekonomia i Nauki Humanistyczne)
24 (1/2017), DOI: 10.7862/rz.2017.hss.2

CORPORATE GOVERNANCE: THE CHAOTIC POWER OF FINANCIAL GIANTS

Ladislau DOWBOR
Submitted by: Paweł Perz

DOI: 10.7862/rz.2017.hss.2

Abstract

Theorists and practitioners of economics and business slowly beginning to understand the complexity of the corporate system, which today, for better or for worse rules the planet. One proof of that, is the fact that each of 29 financial corporations classified as SIFIs (Systemically Important Financial Institutions) work with an average consolidated assets of around $ 1.82 trillion for banks and $ 0.61 trillion for the insurance companies. For comparison USA GDP is around 15 trillion dollars, and Brazil's GDP, 7th world power, around $ 1.4 trillion. What is more, in recent years, the first in depth research on the world-wide corporate control network was published by the Swiss Federal Institute of Technology, which identified 147 groups that control 40% of the global corporate system. 75% of them  were banks. A basic conclusion is unavoidable: over so many years of corporate concentration, through mergers and acquisitions, have created giants which present new management challenges. This is by far the main process that generates the present global instability and disorganization. It is worthwhile to systematize what recent research is showing, because if the 2008 crisis had any advantage it was to shed some light on the mechanisms. The paper shows, that so called corporate governance is basically chaotic power of giant corporations.

Full text (pdf)

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About this Article

TITLE:
CORPORATE GOVERNANCE: THE CHAOTIC POWER OF FINANCIAL GIANTS

AUTHORS:
Ladislau DOWBOR

AUTHORS AFFILIATIONS:
PhD in Economics, professor at the Catholic University of São Paulo

SUBMITTED BY:
Paweł Perz

JOURNAL:
Humanities and Social Sciences
24 (1/2017)

KEY WORDS AND PHRASES:
corporate governance, corporations, financial instytutions, economic crisis, management crisis.

FULL TEXT:
http://doi.prz.edu.pl/pl/pdf/einh/291

DOI:
10.7862/rz.2017.hss.2

URL:
http://dx.doi.org/10.7862/rz.2017.hss.2

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