Financialization, new investment funds, and labour : an international comparison / edited by Howard Gospel, Andrew Pendleton, and Sigurt Vitols.

Format:

Book

Contributor:

Gospel, Howard F., editor.

Pendlenton, Andrew, editor.

Vitols, Sigurt, editor.

Language:

English

Subjects (All):

Hedge funds.

Industrial relations.

Private equity.

Sovereign wealth funds.

Physical Description:

xxii, 380 pages ; 24 cm

Edition:

First edition.

Place of Publication:

Oxford : Oxford university press, 2014.

Oxford New York Oxford University Press 2014.

Summary:

The book provides a comprehensive, comparative treatment of the development of New Investment Funds (NIFs)-private equity, hedge funds, and sovereign wealth funds-and their impact upon labour and employment. Several countries are selected for in-depth treatment with a chapter devoted to each, namely the US, UK, Australia, Germany, Netherlands, Sweden, Italy, Poland, and Japan. The book examines variations in the level and type of fund activity between countries, considers influences upon these variations, and analyses differences in the impact of these funds on labour and employment. This analysis is located in a broader discussion of the nature and development of corporate financialization and comparative capitalism. Financialization has supported the development and growth of these funds, and many aspects of these funds exemplify the process of financialization. Each chapter reports the evidence of the impact on labour and employment. Case studies conducted by the authors supplement other evidence. Much of the evidence shows that private equity funds can have adverse effects on labour, such as reductions in employment, but there is also evidence of more positive effects in some cases such as employment growth and adoption of high commitment human resource practices. Between them, the chapters show that variations in national regulation have a significant impact on both the development of fund activities and their effects. With regard to labour effects, employment and labour regulations do not seem to be of prime importance in explaining the level of fund activity, but regulation supporting worker consultation and voice affects the capacity of labour representatives to influence the outcomes of fund activity on labour and employment. Book jacket.

Contents:

Machine generated contents note: 1.Financialization, New Investment Funds, and Labour / Andrew Pendleton

2.Financial Intermediaries in the United States: Development and Impact on Firms and Employment Relations / Jae Eun Lee

3.Financialization, New Investment Funds, and Weakened Labour: The Case of the UK / Howard Gospel

4.Ambivalent Finance and Protected Labour: Alternative Investments and Labour Management in Australia / John Murray

5.Financialization and Ownership Change: Challenges for the German Model of Labour Relations / Peter Wilke

6.Contested Financialization? New Investment Funds in the Netherlands / Ewald Engelen

7.A Capital-Labour Accord on Financialization? The Growth and Impact of New Investment Funds in Sweden / Tomas Korpi

8.An `Italian Way to Private Equity'? The Rhetoric and the Reality / Bruno Cattero

9.Private Equity and Labour in a Transition Economy: The Case of Poland / Perceval Pradelle

Contents note continued: 10.Japan: Limits to Investment Fund Activity / Katsuyuki Kubo

11.New Investment Funds and Labour Impacts: Implications for Theories of Corporate Financialization and Comparative Capitalism / Sigurt Vitols.

Notes:

Includes bibliographical references and index.

ISBN:

0199653585

9780199653584

OCLC:

876036859

Publisher Number:

60001892249