DP2782 The Influence of the Financial Revolution on the Nature of Firms

Author(s): Raghuram G Rajan, Luigi Zingales
Publication Date: May 2001
Keyword(s): Corporate Governance, Financial Revolution, Theory Of The Firm
JEL(s): L20
Programme Areas: Financial Economics, Industrial Organization
Link to this Page: cepr.org/active/publications/discussion_papers/dp.php?dpno=2782

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.