Professor Julie Froud

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Position: Professor of Financial Innovation
Academic unit: People, Management and Organisations


Julie Froud is a member of the Organisations and Society subject group in the People, Management and Organisations division of MBS.

Research Interests

Current research interests include developing an understanding of financialisation as financial innovation, London as a city state and the role of financial and other elites. Recent ongoing work covers rebalancing the economy and rethinking industrial policy for the foundational economy.

Julie is an associate of the ESRC-funded Centre for Reserach in Socio-Cultural Change (CRESC ) and works as part of a research team with colleagues at MBS (Erturk, Leaver and Williams). Working papers can be downloaded from

Additional Information

Julie is willing to supervise PhD research in the area of financial innovation, financialization and strategy.

Programme involvement

Specialist fields




Publication summary




Working papers

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Showing 81 publication(s)


  • Engelen, E., Erturk, I., Froud, J., Leaver, A., & Williams, K. (2017). Reconceptualizing financial innovation: frame, conjuncture, bricolage. In I. Erturk, & D. Gabor (Eds.), The Routledge Companion to Banking Regulation and Reform. (pp. 111-134). Oxford: Routledge. . Publication link: fce3cb5c-baa6-4fe3-8fd8-07586a8dabca


  • Bowman, A., Froud, J., Johal, S., & Williams, K. (2016). Trade associations, narrative and elite power. Theory, Culture & Society: explorations in critical social science . . Publication link: 9f0e7db7-86bf-4d52-ba10-77f70f947a28
  • Froud, J., Johal, S., Moran, M., & Williams, K. (2016). Outsourcing the state: new sources of elite power. Theory, Culture & Society: explorations in critical social science . . Publication link: d34633d7-18c7-43dd-a8f6-4d99b7e5e9db


  • Brill, L., Cowie, L., Folkman, P., Froud, J., Johal, S., Leaver, A., ... Williams, K. (2015). What Wales could be. (CRESC report for Federation of Small Businesses (Wales)). Manchester: Publication link: 0b8f81d5-4dd3-495c-928e-f6aa2fa351da
  • Bowman, A., Williams, K., Ertürk, I., Folkman, P., Froud, J., Haslam, C., ... Tsitsianis, N. (2015). What a waste: Outsourcing and how it goes wrong. (!st ed.) (Manchester Capitalism). Manchester: Manchester University Press.. Publication link: 1229bbcb-2961-4ffb-9840-75159f994952
  • Bowman, A., Froud, J., Johal, S., Leaver, A., Williams, K., Bailey, D. (Ed.), ... Tomlinson, P. (Ed.) (2015). Reframing Industrial Policy. In New Perspectives on Industrial Policy for a Modern Britain. (pp. 60-78). Oxford: Oxford University Press. . Publication link: 63424a5e-f477-47bb-9a37-facf455de1a9


  • Leaver, A., Bowman, A., Ertürk, I., Froud, J., Johal, S., Law, J., ... Williams, K. (2014). The End of the Experiment? From Competition and Markets to Social Licensing in the Foundational Economy. (The Manchester Capitalism Book Series). Manchester: Manchester University Press.. Publication link: 0dbc3bdf-a29c-48fa-8b9a-431243aa6b5e
  • Froud, J., Buchanan, J., Johal, S., Williams, K., Yu, S., Hauptmeier, M. (Ed.), & Vidal, M. (Ed.) (2014). Do the UK and Australia have sustainable business models? In Comparative Political Economy of Work. (pp. 52-72). (Critical Perspectives on Work and Employment). London: Palgrave Macmillan . . Publication link: e362079b-8c13-4e4a-a049-49e5f171da81
  • Bowman, A., Froud, J., Ertürk, I., Johal, S., Law, J., Leaver, A., ... Williams, K. (2014). The end of the experiment: From competition to the foundational economy. (1st ed.) (Manchester Capitalism). Manchester: Manchester University Press.. Publication link: f8d3910d-4844-4574-85da-52a95c91d9f0


  • Bowman, A., Erturk, I., Froud, J., Johal, S., Leaver, A., Moran, M., & Williams, K. (2013). Central bank-led capitalism?Seattle University Law Review, 36(2), 455-487. . Publication link: 312e5fb9-41f6-44d7-aaf8-7b26be25f9b5



  • Froud, J., Moran, M., Nilsson, A., & Williams, K. (2011). Opportunity Lost: Mystification, elite politics and financial reform in the UK. Socialist Register, 47. . Publication link: 6c0f5361-3782-4733-9375-0c2181e8cf8e
  • Engelen, E., Williams, K., Erturk, I., Froud, J., Johal, S., Leaver, A., ... Nilsson, A. (2011). After the Great Complacence: Financial Crisis and the Politics of Reform. Oxford: Oxford University Press.. Publication link: 743240b0-10eb-4588-8581-c37507c4d386



  • Leaver, A., Froud, J., Johal, S., Williams, K., & Phillips, R. (2009). Poor BBC: a business model analysis of the BBC. British Journal of Management, 20, 252-264. . Publication link: 38bfff75-9b4e-476a-9d48-22abe4be7f78
  • Froud, J., Leaver, A., Johal, S., Nilsson, A., & Williams, K. (2009). Narratives and the financialised firm. Kolner Zeitschrift fur Soziologie und Sozialpsychologie, (49), 288-476. . Publication link: 6d20955d-c187-49c9-a401-7a0a30349936
  • Froud, J., Johal, S., Montgomerie, J., & Williams, K. (2009). Escaping the tyranny of earned income? The failure of finance as social innovation. (CRESC Working Paper Series; No. 66).. Publication link: 597f2d89-f127-4577-97f4-871fb5badd72


  • Froud, J., Erturk, I., Johal, S., Leaver, A., & Williams, K. (2008). Financialization at Work: Key Texts and Commentary. London: Routledge.. Publication link: ea880d50-bbde-48ff-bd45-fe0360134442
  • Froud, J., Leaver, A., Mcandrew, S., Shammai, D., & Williams, K. (2008). Rethinking Top Management Pay: From Pay for Performance to Pay as Fee. (CRESC Working Paper Series; No. 56).. Publication link: 8bb6505a-d71e-42af-ab70-067b2a61e9b9
  • Froud, J., Leaver, A., Tampubolon, G., & Williams, K. (2008). Everything for sale: How non-executive directors make a difference: how non executive directors make a difference. In Sociological Review|Sociol. Rev.. (Vol. 56, pp. 162-186). Oxford: Blackwells/Sociological Review. DOI: 10.1111/j.1467-954X.2008.00767.x. Publication link: 481c95b0-af46-4edc-b9bc-ab6fd917a772


  • Froud, J., Erturk, I., Leaver, A., Williams, K., & Johal, S. (2007). The democratisation of finance? Promises, outcomes, conditions. Review of International Political Economy, 14/4. . Publication link: 06300ed2-4660-4bb3-9953-43a8b3c9c2bc


  • Froud, J., Leaver, A., Williams, K., Zhang, W., & Assassi, L. (Ed.) (2006). The quiet panic about financial literacy. In Global Finance After Deregulation. London: Palgrave. . Publication link: b9b12224-27a5-4722-ad7c-bea12b996b38
  • Froud, J., Johal, S., Leaver, A., & Williams, K. (2006). Financialization and Strategy: Narrative and Numbers: Narrative and Numbers. London: Routledge.. Publication link: 9c3f0f66-377f-4046-b231-0e8a0140a2fe


  • Ertürk, I., Froud, J., Johal, S., Leaver, A., & Williams, K. (2005). Democratisation of finance and financial literacy. Kurswechsel,3, 42-54. . Publication link: 5f89655d-f640-40e2-a8d1-625df7ba9911
  • Leaver, A., Froud, J., Johal, S., Williams, K., & Erturk, I. (2005). Branded Capitalism: a cultural economy approach to financialisation. In 13th GERPISA International Colloquium, 'Productive Organisations, Employment Relationships and Financialisation: Specificities of the Automotive Industry'.. Publication link: 87147795-a094-4298-ad4e-978a105bbe35


  • Leaver, A., Froud, J., Johal, S., & Williams, K. (2004). Value-Based Management and The Workforce. In O Trabalho no Seculo XXI' - Seminario Internacional.. Publication link: c4711d15-d5a2-459e-b1c8-e55e451a1d7e


  • Leaver, A., Froud, J., Johal, S., & Williams, K. (2003). Financialisation, Strategy and Governance: or what management has become. In Critical management Studies Conference: Critique and Inclusivity: Opening the Agenda.. Publication link: bc0a0cc5-4add-49c1-8033-df41e6682e69


  • Froud, J., Shaoul, J., Williams, K., & Coates, D. (Ed.) (2002). Sinking Ships? Liberal theorists on the American economy. In Models of Capitalism - Debating Strengths and Weaknesses. Edward Elgar. . Publication link: 752cb336-0e4f-427b-b00b-1912d872e7c9
  • Froud, J., & Williams, K. (2002). Cars After Financialisation: a case study in financial under-performance, constraints and consequences. Competition and Change, 7(1). . Publication link: 68df8d7e-ffb3-4773-a73f-a16e9affc8af
  • Froud, J. (2002). Out of the Box and/or Further into the Hole?: the logic and results of diversification by auto assemblers. In GERPISA Colloquium.. Publication link: 98c10091-84fb-4715-8ba3-7de05cc68f54


  • Leaver, A., Froud, J., Johal, S., & Williams, K. (2001). The Resources and the Choices of the Motoring Poor in London. In SOFI Research Institute.. Publication link: e4fd46fb-884d-47fb-8fff-1e8a74cca365


  • Froud, J., & Williams, K. (2000). Representing the Household: In and After Income Accounting. Auditing and Accountability Journal, 13, 4. . Publication link: 788beb55-1b77-4c22-bbff-2ae6a7c35c91
  • Froud, J., & Williams, K. (2000). Shareholder Value and Financialisation Consultancy Promises, Management Moves. Economy and Society, 29, 1. . Publication link: 40acf673-59c0-4c04-8653-2ec32c338051
  • Williams, K., Froud, J., Williams, K., Johal, S., & Haslam, C. (2000). Restructuring for shareholder value and its implications for labour. Cambridge Journal of Economics, 24(6), 771-797. . Publication link: bcb414c9-12d8-4e50-92df-7c3165cab01a



  • Froud, J., Haslam, C., Johal, S., Williams, K., & Willis, R. (1998). British pharmaceuticals: a cautionary tale. Economy and Society, 27(4), 554-584. . Publication link: 50705141-5e9a-4b46-ab86-66938b34a9f5
  • Froud, J., Williams, K., Haslam, C., Johal, S., & Williams, J. (1998). Caterpillar: Two stories and an argument. Accounting, Organizations and Society, 23(7), 685-708. . Publication link: c0e47c8f-c9da-4586-b9ca-dd7efa1aa535
  • Froud, J., Shaoul, J., & Williams, K. (1998). Persuasion Without Numbers? Public Policy: The Justification of Capital Charging in the NHS Trust Hospital. Accounting, Auditing and Accountability Journal , 11, No 1. . Publication link: a41ba153-af8a-4746-9289-c7f9eef175c5


  • Froud, J., Haslam, C., Johal, S., Williams, J., & Williams, K. (1997). From social settlement to household lottery. Economy and Society, 26(3), 340-372. . Publication link: 56032ade-6a39-4015-ad8e-0b030cb469bc


  • Froud, J., Haslam, C., Johal, S., Shaoul, J., & Williams, K. (1996). Sinking ships? Liberal theorists on the American economy. Asia Pacific Business Review, 3(1), 54-72. . Publication link: 76969b49-5f8c-4c60-a5dd-19c962455b80
  • Froud, J., Shaoul, J., & Williams, K. (1996). Stakeholder Economy? From Utility Privatisation to New Labour. Capital and Class, 60, autumn. . Publication link: 261dfbe6-b806-4a7a-9abf-896d27ad03dd
  • Froud, J. (1996). Obeying the Rules: Accounting for Regulatory Compliance Costs in the UK. Accounting Organisations and Society, 21, No 6. . Publication link: b7d93498-465d-4ad0-a14d-f872852c76fb