Ismail Ertürk
Biographic Data
| ID | 109607 |
|---|---|
| NAME | Ismail Ertürk |
| GIVEN NAMES | Ismail |
| FAMILY NAME | Ertürk |
| SIGNATURE | ERTÜRK I |
| AFFILIATIONS | University of Manchester |
| ORCID | 0000-0003-3204-4430 |
| VERIFIED | Yes |
| TOTAL WORKS | 20 |
| TOTAL CITATIONS | 294 |
| AUTHOR COUNT | 20 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 1984 |
| LATEST PUBLICATION YEAR | 2023 |
| H-INDEX | 8 |
Gestão passiva, fundos de índices e investimentos responsáveis: O caso de frigoríficos listados na B3
O objetivo deste artigo é analisar em que medida a operação de investimentos por meio de Fundos de Índices de Mercado (ETFs – Exchange Traded Funds) dificultam a transparência e a responsabilização social e ambiental dos investidores por efeitos concretos do seu financiamento de atividades empresariais. Os ETFs são denominados fundos de gestão passiva por rastrearem índices de mercado, inclusive os índices de sustentabilidade ESG. Grandes gestora…
Financeirização, meio ambiente e valores
A mobilização de recursos financeiros para contribuir com os programas de combate a emergências ambientais é caracterizada por iniciativas voluntárias e gerenciamento de riscos regulatórios. As iniciativas voluntárias tendem a ser orientadas pelo mercado e lideradas pelas Nações Unidas e estão cada vez mais organizadas sob a estrutura Ambiental, Societal e de Governança (ESG - Sigla em inglês). Os bancos centrais, por outro lado, impulsionam uma …
Financial untouchability: A polysemic narrative of digital financial inclusion in Modi's India
India's post-GFC digital financial inclusion project has been conveyed by an officially constructed polysemic narrative that connotes three distinctive semantic fields: (a) post-colonial Indian developmental policies; (b) post-GFC financialising neoliberal financial inclusion programmes; and (c) traditional Hindu religious values of money and wealth. By assembling a semiological conceptual toolbox from the works of Barthes, Eco, and Ricouer we an…
Financial citizenship and nation-building in Malaysia: Elites' and citizens' perspectives
This article presents a postcolonial analysis of financial citizenship (FC) programmes in Malaysia. Drawing on secondary data and on interviews with elites and citizen investors, the paper explores the spatial and historically specific nature of financialisation in a postcolonial context. Specifically, the paper draws out the significance of FC as part of broader nation building objectives in Malaysia from an elite perspective, while also observi…
Shadow banking: A story of theDoppelgänger(the Double) in science of finance
After the 2007 financial crisis central bank economists in the US produced a map of shadow banking system, a fragile interconnectedness of regulated and unregulated financial institutions, to explain why the crisis had happened. This piece of cartographic work in banking regulation had two aims: (a) to represent the economic reality, including the parts that were not in regulatory sight, with full realism and (b) to develop a regulatory surveilla…
What a Waste: Outsourcing and How it Goes Wrong
This is the first ever book to analyse outsourcing – contracting out public services to private business interests. It is an unacknowledged revolution in the British economy, and it has happened quietly, but it is creating powerful new corporate interests, transforming the organisation of government at all levels, and is simultaneously enriching a new business elite and creating numerous fiascos in the delivery of public services. What links the …
(How) Do Devices Matter in Finance
This article distinguishes between different concepts of device. In traditional English usage, as in the Foucauldian or Deleuzian concept, devices exist in a context of power, opportunism and force. Through argument and evidence about hedge funds and financial innovation, we argue that this kind of non-Callonian device is ubiquitous in finance so that the idea of device can be part of a much more political analysis of the present-day capitalism. …
Accounting for national success and failure: Rethinking the UK case
This article presents some basic political arithmetic on UK economic performance, including empirics on the sources of new job creation and regional differences. These empirics support an argument about the need for new measures and concepts of national success and failure. This is so because, as we show in the UK case, the standard post 1940 economic measures of GDP and unemployment give a seriously misleading picture of national success. This i…
Misrule of experts? The financial crisis as elite debacle
This paper is about knowledge limits and the financial crisis. It begins by examining various existing accounts of crisis which disagree about the causes, but share the belief that the crisis represents a problem of socio-technical malfunction which requires some kind of technocratic fix: the three variants on this explanation are the crisis as accident, conspiracy or calculative failure. This paper proposes an alternative explanation which frame…
After the Great ComplacenceFinancial Crisis and the Politics of Reform: Financial Crisis and the Politics of Reform
This book addresses two important questions: first, why did financial innovation lead to the crisis in the banking sector that developed in 2007–8; and, second, why the political reform of finance has apparently proved so difficult across a variety of political jurisdictions? This ambitious book draws on a team of researchers from different disciplines to develop an innovation and distinctive argument in response to these two critical issues. In …
Haldane's Gambit: Political Arithmetic and/or a New Metaphor
This article considers the body of work which Andrew Haldane has published since the onset of financial crisis. It draws a distinction between two kinds of criticism in that work: Haldane's interference through political arithmetic on the costs of finance and Haldane's big concept of the financial network using metaphors drawn from the life sciences. His readers have mainly focused on Haldane's innovation through concept and network metaphor whil…
Ownership matters: Private equity and the political division of ownership
This article returns to the issue of how ownership matters. It does so by developing a critique of the ‘advantage-value-return’ framework of assumptions about value creation from the product market, which are recurrent in resource based strategy and many other discourses that highlight what managers can do and the variable governance of management by owners. It then uses a case analysis of private equity and presents empirics which show how the f…
Hedge Funds as ‘War Machine’: Making the Positions Work
The paper criticises current metaphorical characterisations of hedge funds as either trader/arbitrageurs or speculator/gamblers. We argue that these two different characterisations share a definition–identity–outcome frame within which hedge funds are separate and distinct from other financial actors, and engaged in an activity of buying and selling assets with ‘real’ and fixed risk/return characteristics. To break with this frame, our article ma…
Reconceptualizing financial innovation: Frame, Conjuncture and Bricolage
This article argues for a reconceptualization of financial innovation which, as culprit and victim of the current crisis, is now damned by those who once praised it. But what is financial innovation? The dominant answers from mainstream finance and social studies of finance share variations on a rationalistic view whereby financial innovation is about improving markets or at least extending the sphere of rational calculability. Because improvisat…
Corporate Governance and Impossibilism
This paper presents a mixed methods analysis of corporate governance and develops an argument that governance is impossibilist because it inflates expectations and sets fundamentally unattainable objectives. Disappointment with corporate governance is justified because proceduralisation plus new mechanisms (such as the insistence on more independent non-executive directors) have little ascertainable positive effect on shareholder value and firm p…
Banks as Continuous Reinvention
This article questions these assumptions by presenting mainly aggregate and time-series empirical evidence on banks and banking in Europe and the USA that shows how banks have reinvented themselves in these high income econom- ies, so that they increasingly depend on new activity, indexed generally by the rise of fee income. Thus, retail banks increasingly sell financial services products to households and thereby sustain consumption (not product…
The democratization of finance? Promises, outcomes and conditions
This paper analyses the ‘democratization of finance’ or the promise that all households can make money and/or manage risk by buying appropriate financial services products. It does so by exploring the reasons for discrepancy between what is promised and what can be delivered. Our analysis starts from the economic promises and political pitches for the democratization of finance since the early 1990s and the corollary emphasis on promoting mass fi…
Against agency: A Positional Critique
This paper uses the changing historical and theoretical frames within which management pay and investor claims are considered to provide a critique of the functionalist approach of agency and to develop an alternative, positional explanation of rewards. The first part of the paper draws on the contrast between the pre-1940 critique of the rentier and the post-1980 discursive construction of the shareholder to raise important contemporary question…
Corporate governance and disappointment
This paper raises fundamental questions about the political and economic conditions and consequences of UK and US corporate governance. It does so by locating corporate governance in present day capitalism. Politically, the rise of governance since the early 1990s is part of a more general discursive attempt to combine neoliberalism with social responsibility, which works in the specific case of corporate governance by constructing a plausible bu…
Turkey and the European Community
The democratization of finance? Promises, outcomes and conditions
This paper analyses the ‘democratization of finance’ or the promise that all households can make money and/or manage risk by buying appropriate financial services products. It does so by exploring the reasons for discrepancy between what is promised and what can be delivered. Our analysis starts from the economic promises and political pitches for the democratization of finance since the early 1990s and the corollary emphasis on promoting mass fi…
Reconceptualizing financial innovation: Frame, Conjuncture and Bricolage
This article argues for a reconceptualization of financial innovation which, as culprit and victim of the current crisis, is now damned by those who once praised it. But what is financial innovation? The dominant answers from mainstream finance and social studies of finance share variations on a rationalistic view whereby financial innovation is about improving markets or at least extending the sphere of rational calculability. Because improvisat…
Misrule of experts? The financial crisis as elite debacle
This paper is about knowledge limits and the financial crisis. It begins by examining various existing accounts of crisis which disagree about the causes, but share the belief that the crisis represents a problem of socio-technical malfunction which requires some kind of technocratic fix: the three variants on this explanation are the crisis as accident, conspiracy or calculative failure. This paper proposes an alternative explanation which frame…
Banks as Continuous Reinvention
This article questions these assumptions by presenting mainly aggregate and time-series empirical evidence on banks and banking in Europe and the USA that shows how banks have reinvented themselves in these high income econom- ies, so that they increasingly depend on new activity, indexed generally by the rise of fee income. Thus, retail banks increasingly sell financial services products to households and thereby sustain consumption (not product…
(How) Do Devices Matter in Finance
This article distinguishes between different concepts of device. In traditional English usage, as in the Foucauldian or Deleuzian concept, devices exist in a context of power, opportunism and force. Through argument and evidence about hedge funds and financial innovation, we argue that this kind of non-Callonian device is ubiquitous in finance so that the idea of device can be part of a much more political analysis of the present-day capitalism. …
Against agency: A Positional Critique
This paper uses the changing historical and theoretical frames within which management pay and investor claims are considered to provide a critique of the functionalist approach of agency and to develop an alternative, positional explanation of rewards. The first part of the paper draws on the contrast between the pre-1940 critique of the rentier and the post-1980 discursive construction of the shareholder to raise important contemporary question…
Hedge Funds as ‘War Machine’: Making the Positions Work
The paper criticises current metaphorical characterisations of hedge funds as either trader/arbitrageurs or speculator/gamblers. We argue that these two different characterisations share a definition–identity–outcome frame within which hedge funds are separate and distinct from other financial actors, and engaged in an activity of buying and selling assets with ‘real’ and fixed risk/return characteristics. To break with this frame, our article ma…
Corporate governance and disappointment
This paper raises fundamental questions about the political and economic conditions and consequences of UK and US corporate governance. It does so by locating corporate governance in present day capitalism. Politically, the rise of governance since the early 1990s is part of a more general discursive attempt to combine neoliberalism with social responsibility, which works in the specific case of corporate governance by constructing a plausible bu…
Financial untouchability: A polysemic narrative of digital financial inclusion in Modi's India
India's post-GFC digital financial inclusion project has been conveyed by an officially constructed polysemic narrative that connotes three distinctive semantic fields: (a) post-colonial Indian developmental policies; (b) post-GFC financialising neoliberal financial inclusion programmes; and (c) traditional Hindu religious values of money and wealth. By assembling a semiological conceptual toolbox from the works of Barthes, Eco, and Ricouer we an…
Haldane's Gambit: Political Arithmetic and/or a New Metaphor
This article considers the body of work which Andrew Haldane has published since the onset of financial crisis. It draws a distinction between two kinds of criticism in that work: Haldane's interference through political arithmetic on the costs of finance and Haldane's big concept of the financial network using metaphors drawn from the life sciences. His readers have mainly focused on Haldane's innovation through concept and network metaphor whil…
Financial citizenship and nation-building in Malaysia: Elites' and citizens' perspectives
This article presents a postcolonial analysis of financial citizenship (FC) programmes in Malaysia. Drawing on secondary data and on interviews with elites and citizen investors, the paper explores the spatial and historically specific nature of financialisation in a postcolonial context. Specifically, the paper draws out the significance of FC as part of broader nation building objectives in Malaysia from an elite perspective, while also observi…
Shadow banking: A story of theDoppelgänger(the Double) in science of finance
After the 2007 financial crisis central bank economists in the US produced a map of shadow banking system, a fragile interconnectedness of regulated and unregulated financial institutions, to explain why the crisis had happened. This piece of cartographic work in banking regulation had two aims: (a) to represent the economic reality, including the parts that were not in regulatory sight, with full realism and (b) to develop a regulatory surveilla…
Turkey and the European Community
Corporate governance and disappointment
This paper raises fundamental questions about the political and economic conditions and consequences of UK and US corporate governance. It does so by locating corporate governance in present day capitalism. Politically, the rise of governance since the early 1990s is part of a more general discursive attempt to combine neoliberalism with social responsibility, which works in the specific case of corporate governance by constructing a plausible bu…
Banks as Continuous Reinvention
This article questions these assumptions by presenting mainly aggregate and time-series empirical evidence on banks and banking in Europe and the USA that shows how banks have reinvented themselves in these high income econom- ies, so that they increasingly depend on new activity, indexed generally by the rise of fee income. Thus, retail banks increasingly sell financial services products to households and thereby sustain consumption (not product…
The democratization of finance? Promises, outcomes and conditions
This paper analyses the ‘democratization of finance’ or the promise that all households can make money and/or manage risk by buying appropriate financial services products. It does so by exploring the reasons for discrepancy between what is promised and what can be delivered. Our analysis starts from the economic promises and political pitches for the democratization of finance since the early 1990s and the corollary emphasis on promoting mass fi…
Against agency: A Positional Critique
This paper uses the changing historical and theoretical frames within which management pay and investor claims are considered to provide a critique of the functionalist approach of agency and to develop an alternative, positional explanation of rewards. The first part of the paper draws on the contrast between the pre-1940 critique of the rentier and the post-1980 discursive construction of the shareholder to raise important contemporary question…
Corporate Governance and Impossibilism
This paper presents a mixed methods analysis of corporate governance and develops an argument that governance is impossibilist because it inflates expectations and sets fundamentally unattainable objectives. Disappointment with corporate governance is justified because proceduralisation plus new mechanisms (such as the insistence on more independent non-executive directors) have little ascertainable positive effect on shareholder value and firm p…
Ownership matters: Private equity and the political division of ownership
This article returns to the issue of how ownership matters. It does so by developing a critique of the ‘advantage-value-return’ framework of assumptions about value creation from the product market, which are recurrent in resource based strategy and many other discourses that highlight what managers can do and the variable governance of management by owners. It then uses a case analysis of private equity and presents empirics which show how the f…
Hedge Funds as ‘War Machine’: Making the Positions Work
The paper criticises current metaphorical characterisations of hedge funds as either trader/arbitrageurs or speculator/gamblers. We argue that these two different characterisations share a definition–identity–outcome frame within which hedge funds are separate and distinct from other financial actors, and engaged in an activity of buying and selling assets with ‘real’ and fixed risk/return characteristics. To break with this frame, our article ma…
Reconceptualizing financial innovation: Frame, Conjuncture and Bricolage
This article argues for a reconceptualization of financial innovation which, as culprit and victim of the current crisis, is now damned by those who once praised it. But what is financial innovation? The dominant answers from mainstream finance and social studies of finance share variations on a rationalistic view whereby financial innovation is about improving markets or at least extending the sphere of rational calculability. Because improvisat…
After the Great ComplacenceFinancial Crisis and the Politics of Reform: Financial Crisis and the Politics of Reform
This book addresses two important questions: first, why did financial innovation lead to the crisis in the banking sector that developed in 2007–8; and, second, why the political reform of finance has apparently proved so difficult across a variety of political jurisdictions? This ambitious book draws on a team of researchers from different disciplines to develop an innovation and distinctive argument in response to these two critical issues. In …
Haldane's Gambit: Political Arithmetic and/or a New Metaphor
This article considers the body of work which Andrew Haldane has published since the onset of financial crisis. It draws a distinction between two kinds of criticism in that work: Haldane's interference through political arithmetic on the costs of finance and Haldane's big concept of the financial network using metaphors drawn from the life sciences. His readers have mainly focused on Haldane's innovation through concept and network metaphor whil…
Accounting for national success and failure: Rethinking the UK case
This article presents some basic political arithmetic on UK economic performance, including empirics on the sources of new job creation and regional differences. These empirics support an argument about the need for new measures and concepts of national success and failure. This is so because, as we show in the UK case, the standard post 1940 economic measures of GDP and unemployment give a seriously misleading picture of national success. This i…
Misrule of experts? The financial crisis as elite debacle
This paper is about knowledge limits and the financial crisis. It begins by examining various existing accounts of crisis which disagree about the causes, but share the belief that the crisis represents a problem of socio-technical malfunction which requires some kind of technocratic fix: the three variants on this explanation are the crisis as accident, conspiracy or calculative failure. This paper proposes an alternative explanation which frame…
(How) Do Devices Matter in Finance
This article distinguishes between different concepts of device. In traditional English usage, as in the Foucauldian or Deleuzian concept, devices exist in a context of power, opportunism and force. Through argument and evidence about hedge funds and financial innovation, we argue that this kind of non-Callonian device is ubiquitous in finance so that the idea of device can be part of a much more political analysis of the present-day capitalism. …
What a Waste: Outsourcing and How it Goes Wrong
This is the first ever book to analyse outsourcing – contracting out public services to private business interests. It is an unacknowledged revolution in the British economy, and it has happened quietly, but it is creating powerful new corporate interests, transforming the organisation of government at all levels, and is simultaneously enriching a new business elite and creating numerous fiascos in the delivery of public services. What links the …
Shadow banking: A story of theDoppelgänger(the Double) in science of finance
After the 2007 financial crisis central bank economists in the US produced a map of shadow banking system, a fragile interconnectedness of regulated and unregulated financial institutions, to explain why the crisis had happened. This piece of cartographic work in banking regulation had two aims: (a) to represent the economic reality, including the parts that were not in regulatory sight, with full realism and (b) to develop a regulatory surveilla…
Financial citizenship and nation-building in Malaysia: Elites' and citizens' perspectives
This article presents a postcolonial analysis of financial citizenship (FC) programmes in Malaysia. Drawing on secondary data and on interviews with elites and citizen investors, the paper explores the spatial and historically specific nature of financialisation in a postcolonial context. Specifically, the paper draws out the significance of FC as part of broader nation building objectives in Malaysia from an elite perspective, while also observi…
Financial untouchability: A polysemic narrative of digital financial inclusion in Modi's India
India's post-GFC digital financial inclusion project has been conveyed by an officially constructed polysemic narrative that connotes three distinctive semantic fields: (a) post-colonial Indian developmental policies; (b) post-GFC financialising neoliberal financial inclusion programmes; and (c) traditional Hindu religious values of money and wealth. By assembling a semiological conceptual toolbox from the works of Barthes, Eco, and Ricouer we an…
Gestão passiva, fundos de índices e investimentos responsáveis: O caso de frigoríficos listados na B3
O objetivo deste artigo é analisar em que medida a operação de investimentos por meio de Fundos de Índices de Mercado (ETFs – Exchange Traded Funds) dificultam a transparência e a responsabilização social e ambiental dos investidores por efeitos concretos do seu financiamento de atividades empresariais. Os ETFs são denominados fundos de gestão passiva por rastrearem índices de mercado, inclusive os índices de sustentabilidade ESG. Grandes gestora…
Financeirização, meio ambiente e valores
A mobilização de recursos financeiros para contribuir com os programas de combate a emergências ambientais é caracterizada por iniciativas voluntárias e gerenciamento de riscos regulatórios. As iniciativas voluntárias tendem a ser orientadas pelo mercado e lideradas pelas Nações Unidas e estão cada vez mais organizadas sob a estrutura Ambiental, Societal e de Governança (ESG - Sigla em inglês). Os bancos centrais, por outro lado, impulsionam uma …
Economics (17 works) · Political science (15 works) · Housing, Finance, and Neoliberalism (11 works) · Finance (10 works) · Politics (9 works) · Business (7 works) · Law (7 works) · Law (7 works) · Banking stability, regulation, efficiency (6 works) · Economic Theory and Policy (6 works)