Download full text
(600.5Kb)
Citation Suggestion
Please use the following Persistent Identifier (PID) to cite this document:
https://doi.org/10.12759/hsr.44.2019.1.285-307
Exports for your reference manager
The (Not Entirely) Financialized Enterprise - A Conceptual Proposal
Das (nicht ganz) finanzialisierte Unternehmen: ein konzeptioneller Vorschlag
[journal article]
Abstract Against the background of financialization being applied as a sort of catch-all category for corporate reorganization and especially the deterioration of labor and working conditions the paper presents the concept of the "multi-referential enterprise." Capital market expectations put established lab... view more
Against the background of financialization being applied as a sort of catch-all category for corporate reorganization and especially the deterioration of labor and working conditions the paper presents the concept of the "multi-referential enterprise." Capital market expectations put established labor relations under a new pressure, but competing ideas remain relevant as a reference in both institutional reform processes and everyday decision making at firm level, including labor relations. Respective power positions also depend on rights anchored in labor law, collective bargaining, and labor market regulations as well as on what happens to sources of primary power of the respective workforce due to labor market conditions, technological change, and pressures from value chain reorganization and globalization. Hence, what unions and works councils eventually have to concede in negotiations is not just a matter of the degree of financialization but of a variety of other structurations of the field and respective companies.... view less
Keywords
labor relations; convention; working conditions; value chain; reorganization; institutional change; codetermination; workers' representation; shareholder value; labor market; capital market; financial market; capitalism; management; economic action; chemical industry; Federal Republic of Germany
Classification
Sociology of Work, Industrial Sociology, Industrial Relations
Political Economy
Free Keywords
Financialization; social fields; multi-referential enterprise
Document language
English
Publication Year
2019
Page/Pages
p. 285-307
Journal
Historical Social Research, 44 (2019) 1
Issue topic
Markets, Organizations, and Law - Perspectives of Convention Theory on Economic Practices and Structures
ISSN
0172-6404
Status
Published Version; peer reviewed