, as well as on the effects of increasing "shareholder value orientation" of management's investment decisions. An isolated … increase in the "shareholder value orientation" of management's investment decisions has a uniquely negative effect on capacity … investment and the saving function of the models. "Profits without investment", the "intermediate" case in both models, is a …

financial markets work, and stress the vital need of preventing financial devices that result in productive investment crowding-out …

investment via new equity issues. Financialisation is the more general development towards an increased importance of the …