THE IMPACTS OF FINANCIALIZATION ON ACCOUNTING
DOI:
https://doi.org/10.51320/rmc.v26i3.1810Abstract
Financialization can be defined as an accumulation regime under the hegemony of finance (Duménil & Lévy, 2001) or characterized as an asset-based growth regime—a financialized accumulation regime—in which asset markets take center stage, institutional investors become increasingly important, and corporate governance serves as a regulatory instance (Martins, 2024). Finance achieved a hierarchically superior position in terms of power (the State) and through its articulation with other institutional forms. The financialization process solidified primarily in the 1970s and continues to reshape contemporary capitalism (Martins 2024).
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