Resource Details
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Title
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Austerity for some? The Impact of Financialization on Management and Labor
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Media Type
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Microsoft Document
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Category
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Conference Programme
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Description
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Transcript of the plenary by Professor Stephen Ackroyd and Professor Rosemary Batt at the BSA Annual Conference 2012.
In this plenary we consider how the rise of financial capitalism is affecting the organization of firms and management policies. Under managerial capitalism, capitalists invest in productive enterprises and extract value primarily through the management of labor. Under financial capitalism, investors treat productive enterprises as bundles of assets to be bought and sold or reconfigured in order to maximize shareholder value. These financial models of business change the incentive structures for managers and reduce the opportunities for labor and its representatives to influence managerial decision-making. We discuss alternative models of financial capitalism, including innovations by large publicly-traded corporations as well as those by new financial intermediaries such as private equity and hedge funds. We then trace the consequences of these alternative models for managers, employees and other stakeholders.
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Members Only
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No
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Austerity for some? The Impact of Financialization on Management and Labor
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Keywords
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Stephen Ackroyd, Rosemary Batt, financial capitalism, 2012, plenary
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