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Institutional Investors in Global Markets$
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Gordon L Clark and Ashby H B Monk

Print publication date: 2017

Print ISBN-13: 9780198793212

Published to Oxford Scholarship Online: June 2017

DOI: 10.1093/oso/9780198793212.001.0001

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Production of Investment Returns

Production of Investment Returns

Chapter:
(p.58) 4 Production of Investment Returns
Source:
Institutional Investors in Global Markets
Author(s):

Gordon L. Clark

Ashby H. B. Monk

Publisher:
Oxford University Press
DOI:10.1093/oso/9780198793212.003.0004

Chapter 4 introduces the ways in which institutional investors produce investment returns over time and space. In doing so, the chapter considers the 1937 theory of the firm by Coase and reviews the theory’s relevance in today’s environment. It then outlines the three building blocks underpinning the ways in which financial institutions produce investment returns in the context of spatially extensive financial markets: ecology of finance, managers and workers, and coordination. The chapter also demonstrates the distinctive attributes of financial institutions, especially vis-à-vis the power and authority of senior managers in relation to the institution’s goals and objectives. The chapter explores other influential factors, such as the ways in which location, particularly in large urban centres with extensive financial networks, can make a difference.

Keywords:   Coase, ecology of finance, innovate, location, manager and workers, time and space

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