Institutional Investors
Institutional Investors
services into conglomerates has the potential to rein- vigorate longstanding debates about elite class control versus pluralism, although with a global dimension. Since financial service conglomerates that are being built through mergers, acquisitions, and alliances in this era of deregulation are transnational in scope, the new, emergent money trust may not be a uniquely US phenomenon. Likewise, institutional investors are active participants in securities markets around the world and play a key role in economic development and global monetary flows. Hence, we may want to begin to study whether a new transnational class of capitalists is in the making, or at least probe how large, global investors are shaping the social organization of countries around the world.
Three. Conclusion
Three. Conclusion
The rise of institutional investors both in the US and around the globe is a critically important phenomenon that researchers have only just begun to investigate. While we know a good deal about how the rise of institutional investors has challenged managerial autonomy in the US, we know much less about the relationship between institutional investors and corporate governance in other, especially non-Western, countries. More generally, we know very little about how country-specific capital formation processes are changing amid the continuing globalization of financial markets and the emergence of transnational financial conglomerates. We would benefit greatly from detailed cross-national studies of how economy-society relationships may be changing as a result of these developments. Through such research, we may begin to unearth the heterogeneity of practices lumped under the category 'institutional investors' and reveal the wide variety of influences these actors have around the world.