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Financiarización, empleo y salario en la UE: el impacto de las nuevas estrategias empresariales

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Listed:
  • Ignacio Álvarez

    () (Universidad Complutense de Madrid, Instituto Complutense de Estudios Internacionales (ICEI), Investigador del grupo “Economía Política de la Mundialización”)

  • Fernando Luengo

    () (Universidad Complutense de Madrid, Instituto Complutense de Estudios Internacionales (ICEI), Investigador del grupo “Economía Política de la Mundialización”)

Abstract

The aim of this paper is to analyze how the process of financialization experienced by the EU economies since 1980, has changed the strategies of large non-financial corporations, thereby altering the pattern of wage growth and job creation. To this end, we analyze the link between financialization and the changes occurred in the distribution of profits, investment decisions, corporate restructuring and new forms of remuneration related to employee shareholding participation. This change in business strategies has resulted –directly or indirectly– in slower rates of job creation, erosion of bargaining power of employees and greater wage restraint.

Suggested Citation

  • Ignacio Álvarez & Fernando Luengo, 2010. "Financiarización, empleo y salario en la UE: el impacto de las nuevas estrategias empresariales," Working Papers del Instituto Complutense de Estudios Internacionales 1004, Universidad Complutense de Madrid, Instituto Complutense de Estudios Internacionales.
  • Handle: RePEc:ucm:wpaper:1004
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    References listed on IDEAS

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    1. Engelbert Stockhammer, 2004. "Financialisation and the slowdown of accumulation," Cambridge Journal of Economics, Oxford University Press, vol. 28(5), pages 719-741, September.
    2. Mark J. Roe, 2001. "Les conditions politiques au développement de la firme managériale," Revue Finance Contrôle Stratégie, revues.org, vol. 4(1), pages 123-182, March.
    3. Nathalie Coutinet & Dominique Sagot-Duvauroux, 2003. "Économie des fusions et acquisitions," Post-Print hal-01418448, HAL.
    4. Özgür Orhangazi, 2008. "Financialization and the US Economy," Books, Edward Elgar Publishing, number 12927, April.
    5. Goyer, Michel, 2002. "The transformation of corporate governance in France and Germany: The role of workplace institutions," MPIfG Working Paper 02/10, Max Planck Institute for the Study of Societies.
    6. François Morin, 1998. "La rupture du modèle français de détention et de gestion des capitaux," Revue d'Économie Financière, Programme National Persée, vol. 50(6), pages 111-132.
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