While many studies have been devoted to capital accumulation and rate of profit, the article empirically characterises the financialization at the level of firms' liability, i.e. at the level of debt and equity. In particular, the determinants of non financial firms' indebtedness and equity...

During the past ten to fifteen years large manufacturing firms have increasingly entered the field of financial intermediation. This tendency can also be observed in Austria. Between 1973 and 1988 the share of financial assets in total assets held by these firms more than doubled. Large firms...