A Geography of U.S. Institutional Investment, 1990

Green, Milford B.

doi:10.2747/0272-3638.16.1.46

Cited by 7 publications

(4 citation statements)

References 19 publications

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“…The three most important cities were New York, Chicago and Boston in that order. Green (1995) provides an update of his previous analyses with institutional investment data for 1990. Using a multiple classification analysis of the dollar values of linkages between cities and type of investment firm, New York City is dominant.…”

Section: Past Research Corporate Controlmentioning

confidence: 99%

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The economic geography of institutional investment in the United States, 2010

2015

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The economic geography of United States' institutional investments as of December 2010 is presented. With a self-declared value of almost $13 trillion, it is the largest class of equity investors. Included are all investors who file Securities Exchange Commission (SEC) form 13f, meaning they manage at least $100 million. Analysis is undertaken at both the firm and metropolitan levels. The largest firms and targets of investment are determined. Geographic concentrations of both investors and their major stock holdings occur in a small subset (the top 10 largest metropolitan areas). The rates of returns on investments are shown to differ by metropolitan area of investment and by urban rank in the urban hierarchy. Intra-metropolitan investment provides worse rates of returns, countering suggestions of informational advantages for local investment. The network of interurban investments shows a clear hierarchical structure, with New York City being the dominant investment centre.

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Section: Past Research Corporate Controlmentioning

confidence: 99%

“…In the United States, perhaps the industry is more decentralized, but previous research still shows that it is concentrated in a few cities such as New York, Boston and Chicago (Green, 1993(Green, , 1995. These same institutional investment firms also concentrate their assets in domestic firms.…”

Section: Death Of Geography In Financementioning

confidence: 99%

The economic geography of institutional investment in the United States, 2010

2015

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“…Until recently, the multi-trillion dollar investment advisory industry 1 has received little attention from geographers and regional scientists (Bodenman 1998;Green 1995Green , 1993Hepworth 1991;Warf 1989). Today's investment managers, buttressed by state-of-the-art communications systems, seemingly inexhaustible data bases, small armies of securities analysts, and complex new theories of investing, represent the quintessential information-intensive financial service -a product of the "information economy" (Hepworth 1990).…”

Section: Introductionmentioning

confidence: 99%

Firm characteristics and location: The case of the institutional investment advisory industry in the United States, 1983–1996

Bodenman¹

2000

Papers in Regional Science

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Abstract. This article examines the locational dynamics of the institutional investment advisory industry in the United States, 1983–1996, focusing on the factors and firm characteristics that account for institutional investment management firms' location. The institutional investment advisory industry, one of the fastest growing industries in the financial services sector, includes firms that manage the securities portfolios of institutional clients (e.g., corporate pension funds) for a fee. Descriptive and logit analyses are used to identify, compare and contrast those factors and firm characteristics associated with firm location outside (versus inside) the traditional investment management core. The findings presented in this article diminish the notion that access to a skilled financial services labor pool and a high‐quality and diversified transportation and communications infrastructure is only available in the traditional core.

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“…This is the basis for a discussion of the causes of pension fund capitalism. While this paper is concerned with national and international comparisons, a spatial perspective quite different from that of Graves (1998), Green (1995) and Martin and Minns (1995) who are all similarly interested in the geography of pension fund capitalism (and its various manifestations), it should be apparent that spatial differentiation is one of the building blocks underpinning this paper. I would argue that understanding the causal logic which has created and sustained gross differences between financial systems is a necessary research project for all social sciences including geography (see also Laulajainen, 1998).…”

Section: Introductionmentioning

confidence: 99%

Pension fund capitalism: a causal analysis

Clark

1998

Geografiska Annaler: Series B, Human Geography

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Since 1980, UK individual pension and retirement assets have increased about twelvefold to around £1.5 trillion. Over the same period, US household retirement assets have increased about tenfold to more than US$7 trillion. High rates of asset growth have also been observed for Australia and Canada. Notwithstanding their current high standards of living, countries in much of continental Europe have not shared in these extraordinary rates of growth of pension assets. In fact, many analysts believe that their long-term prosperity is threatened (relatively speaking) by inefficient, institutionally cumbersome finance sectors. While saving now for retirement has significant advantages for beneficiaries, less recognized is the fact that the growth of pension assets in the Anglo-American economies has profoundly changed the financial structure of these countries. In this paper I explain how and why pension assets have grown so large in the Anglo-American countries, beginning with a historical account which helps to identify the reasons why German and continental European countries (excluding The Netherlands and Switzerland) have not shared the same rates of growth in pension assets. In doing so, the paper develops a causal model which discriminates between various causes of Anglo-American pension fund capitalism: structural determinants (institutional framework), secondorder determinants (postwar conditions), and third-order determinants (the flow of contributions). The identified causal logic integrates structure with historical and geographical contingency. Implications are also drawn regarding the significance of Anglo-American pension funds for global capitalism.

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A Geography of U.S. Institutional Investment, 1990

Cited by 7 publications

References 19 publications

The economic geography of institutional investment in the United States, 2010

The economic geography of institutional investment in the United States, 2010

Firm characteristics and location: The case of the institutional investment advisory industry in the United States, 1983–1996

Pension fund capitalism: a causal analysis

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