The paper develops a sympathetic critique of the concept of financialization. This concept has been developed to account for the empowering of financial markets and their influence over the unfolding of economy, polity and society. Processes of financialization are claimed to manifest at a number of scales, ranging from higher levels of instability within the economy as a whole, through pressure exerted on corporations by capital markets, to the equity effects of the financial system on individuals and households.. In seeking to explain the change within contemporary society financialization has to date been relatively underplayed, particularly when compared to similar and related concepts such as neoliberalization. While the concept of financialization has the potential to unite researchers across cognate social science fields, thereby building critical mass and recognition within social studies of money and finance, we argue that to date research has been insufficiently attentive to the role of space and place, both in terms of its processes and its effects. The paper explores a number of possibly fruitful directions for work on financialization to pursue, focusing in particular on the concepts of the financial ecology and financial citizenship.

If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.comEmerald is a global publisher linking research and practice to the benefit of society. The company manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as providing an extensive range of online products and additional customer resources and services.Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation. AbstractPurpose -This paper aims to contribute to the understanding of the factors that influence small to medium-sized enterprise (SME) performance and particularly, growth. Design/methodology/approach -This paper utilises an original data set of 360 SMEs employing 5-249 people to run logit regression models of employment growth, turnover growth and profitability. The models include characteristics of the businesses, the owner-managers and their strategies. Findings -The results suggest that size and age of enterprise dominate performance and are more important than strategy and the entrepreneurial characteristics of the owner. Having a business plan was also found to be important.Research limitations/implications -The results contribute to the development of theoretical and knowledge bases, as well as offering results that will be of interest to research and policy communities. The results are limited to a single survey, using cross-sectional data. Practical implications -The findings have a bearing on business growth strategy for policy makers. The results suggest that policy measures that promote the take-up of business plans and are targeted at younger, larger-sized businesses may have the greatest impact in terms of helping to facilitate business growth. Originality/value -A novel feature of the models is the incorporation of entrepreneurial traits and whether there were any collaborative joint venture arrangements.

This article will explore the geographical origins of Residential Mortgage Backed Securitization (RMBS) in the United States and map the subsequent migration of RMBS, as idea, technology and investment vehicle, to the United Kingdom and other nation-states during the 1990s. It will illustrate how RMBS was used as a medium to circulate capital and construct urban space, and seek to interpret the development of RMBS and the contemporary credit crisis in the UK through a series of historical, political and sociological lenses. It argues that, despite travelling across the globe, this financial innovation has maintained a spatial sensitivity since the idea of securitization has been embodied and (re)interpreted in specific spaces to comply with local economic, political and social institutions. It also argues that this is an important primer to understanding the 'credit crunch' of 2007 and its repercussions. The article focuses particularly on how the current significance of securitization and RMBS can be traced back to the 'Big Bang' and the wider processes of the competitive re-regulation of the City of London and the British financial system more generally during the mid-1980s. It shows the differential evolution of securitization in the UK and US, and in so doing argues that such spatial variations have left different financial institutions in the two economies exposed to different forms of credit and market risk. Copyright (c) 2009 The Author. Journal Compilation (c) 2009 Joint Editors and Blackwell Publishing Ltd.

BEAVERSTOCK J. V., HALL S. and WAINWRIGHT T. Servicing the super-rich: new financial elites and the rise of the private wealth management retail ecology, Regional Studies. The ways in which individuals' everyday lives have become increasingly tied into the international financial system has become a widely studied dimension of research on financialization. However, the ways in which financial elites consume financial services has received far less attention. In response, research on financial elites and retail financial ecologies is combined here to understand the private wealth management industry that has developed to service these financial elites. Drawing on original research on private wealth management firms, it is argued that examining the development and nature of this new financial ecology is important in understandings of financialization and its uneven geography. Financialization Financial elites Wealth management Private banking City of London BEAVERSTOCK J. V., HALL S. and WAINWRIGHT T. 服务于超级财富：金融精英与私有财产管理零售生态的兴起，区域 研究。个体的日常生活方式逐渐与国际金融体系相关联这已经成为金融化研究中广泛关注的议题。然而，金融精英 消费金融服务产品的方式却没有受到足够的关注。为了填补这一空白，本文将金融精英与零售业生态相联系以理解 服务于金融精英的私有财产管理是如何得以发展的。基于对私人财产管理公司的原始研究数据，本文指出，考察这 一新的金融生态的发展及其本质对于理解金融化及其不均衡分布地理学非常重要。 金融化 金融精英 财富管理 私有银行 伦敦 BEAVERSTOCK J. V., HALL S. et WAINWRIGHT T. Fournir des services aux super nantis: les nouvelles élites financières et l'essor de l'écologie de détail quant à la gestion de fortune privée, Regional Studies. Les moyens par lesquels la vie quotidienne se rapporte de plus en plus au système financier international devient un domaine d'étude plus répandu de la recherche sur la financialisation. Cependant, on prête moins d'attention aux moyens par lesquels les élites financières consomment les services financiers. En guise de réponse, on combine ici la recherche à propos des élites financières et des écologies financières de détail afin de comprendre l'industrie de la gestion de fortune privée qui se développe dans le but de fournir des services à ces élites financières. Puisant dans des recherches originales auprès des entreprises de gestion de fortune, on affirme qu'il importe d'examiner le développement et la nature de cette nouvelle écologie financière pour comprendre la financialisation et sa géographie irrégulière. Financialisation Elites financières Gestion de fortune Banques privées Ville de Londres BEAVERSTOCK J. V., HALL S. und WAINWRIGHT T. Dienstleistungen für Superreiche: neue Finanzeliten und der Aufstieg der Einzelhandels-Ökologie für Privatvermögensverwaltung, Regional Studies. Die zunehmenden Verknüpfungen zwischen dem Alltag von Privatpersonen und dem internationalen Finanzsystem sind in der Forschung über Finanzialisierung ausführlich untersucht worden. Weitaus weniger Beachtung hat hingegen die Frage gefunden, auf welche Weise Finanzeliten finanzielle Dienstleistungen in Anspruch nehmen. Aus diesem Grund wurde in dieser Studie die Forschung über Finanzeliten mit der über die Ökologien der Einzelhandelsfinanzen kombiniert, um die Branche der Privatvermögensverwaltung...

The recent global financial crisis has seen investors turn away from real-estate bonds, given their role in distributing risk during the crisis. However, since 2009, a new type of real-estate bond market has grown in London, enabling social housing groups to issue bonds. This could be viewed as further evidence of the extension of financialization practices into new spaces, beyond those of traditional capital markets and associated intermediaries. In this paper, we examine how financialization has begun to permeate the third sector, reordering the priority of housing associations' values, displacing social value creation with the economic. We highlight how reduced state funding has led social housing providers to become more reliant on capital market intermediaries, and explore how locally orientated social housing associations have become embedded within wider financial networks. While policy makers have viewed financial markets as a panacea to fund social housing developments in an age of austerity, tensions have emerged, requiring localized social housing organizations to become more commercial in their activities, jeopardizing their ability to protect vulnerable communities through social value creation.

Please cite this article as: Kautonen, T., Hatak, I., Kibler, E., Wainwright, T., Emergence of entrepreneurial behaviour: The role of age-based self-image, Journal of Economic Psychology (2015), doi: http://dx.doi. org/ 10.1016/j.joep.2015.07.004 This is a PDF file of an unedited manuscript that has been accepted for publication. As a service to our customers we are providing this early version of the manuscript. The manuscript will undergo copyediting, typesetting, and review of the resulting proof before it is published in its final form. Please note that during the production process errors may be discovered which could affect the content, and all legal disclaimers that apply to the journal pertain. Emergence of entrepreneurial behaviour: the role of age-based self-image

Abstract

In this paper I will explore London's onshore fínance industry and how it facilitates corporate tax avoidanee programmes. In doing so, 1 will diseuss how financial elites design transactions and eorporate activities so as to minimise their exposure to taxation, and how these structures are shaped by the international geographies of taxation. I will investigate an area of London's financial sector that has previously been neglected by geographers and social scientists. Finally, I turn to illustrate how tax minimisation strategies are implemented, through the example of residential mortgage-backed securitisation, and how tax-minimisation strategies made securitisation a practical tool for financiers. This provides new insights into how taxation elites faeilitated the increased fínancialisation of Britain's economy and the severity of its exposure to the credit crunch.