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The Role of the Capital Markets in Project Financings

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... Such dominance, if not directly present in the financing of corporations 2 , undoubtedly played a major role as the cultural shaper of the dominant logic of financial practices, largely serving the purposes of internationalization. The second, beginning in the late seventies, was the gradual but steady resurgence of project finance as an alternative to tailored finance aimed at the growing infra-structure demands of developed and developing economies alike (Simpson & Avery, 1995), crowned by its decisive institutional role in the still ongoing developing countries privatization wave, which started in the 1990s (Feldman, & Mix: 1995). ...
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We pursue the informational connection between power-knowledge, information and finance. The financial system is not chosen as the locus of a thematic variance but rather as the institutional embodiment of an intelligence system managing the ultimate pivotal structure of symbolic references operating the socio-economic order, i.e. finance. Three papers and a final commentary structure our propositional framework. In the first paper, Power-Knowledge and the enforcement of unstated intentionality through Power-Information, we pursue the possibility of a conceptual framework for interpretative intelligence. We discuss how theories are selectively grouped in terms of the power-knowledge/power-information arrangement believed necessary to enforce the unstated intentionality of dominant actors over non-decisional actors. In the second paper, Religion, Rationality and Unanimity, we trace the anthropological roots and historical evolution of the concept of unanimity, from which we draw an attempt to reinterpret the decisional paradigm of Modern Financial Theory, pursuing the possibility that its real centrality does not lie on its purported economic equilibrium framework, but rather on the unstated sociological implications of the concept’s underlying informational order. Construing from there, we develop the idea that corporate governance culture and practice, and its corresponding informational order, define the logic of power in society. In the third paper, by examining the The Power-Knowledge Pattern of Financial Decision Making in the case of Project Finance, we combine the interpretative possibilities offered in the former papers to unveil the power knowledge/power information culture of financial decision makers, discussing the very intelligence culture permeating their decisional framework and its pervasive implications in the shaping of power in society. In the final commentary we develop our vision of the interconnections between modern financial theory, society and power as an authentic reality show, thus requiring for its interpretation a disruption with the screen play and deep dive into the structural order of things.
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