63 lines
2 KiB
YAML
63 lines
2 KiB
YAML
abstract: 'This article sheds light on the ongoing employment stagnation in the
|
|
|
|
United States by investigating the links between the rise of finance and
|
|
|
|
firm employment dynamics during the 1982-2005 period. I argue that the
|
|
|
|
rise of finance marginalized the role of labor in revenue generating and
|
|
|
|
sharing processes, which led to employment stagnation among the largest
|
|
|
|
nonfinancial firms in the United States. Evidence suggests that
|
|
|
|
increasing investment in financial assets depresses the workforce size.
|
|
|
|
The growing dependence on debt reprioritizes the order of distribution,
|
|
|
|
heightening the need for workforce reduction. The increasing rewards for
|
|
|
|
shareholders generate a downsize-and-distribute spiral, in which labor
|
|
|
|
expense becomes a primary target of cost-cutting strategies. Further
|
|
|
|
analysis indicates that production and service workers are more
|
|
|
|
vulnerable to shifts associated with the rise of finance than managers
|
|
|
|
and professionals.'
|
|
affiliation: 'Lin, KH (Corresponding Author), Univ Texas Austin, Dept Sociol, Austin,
|
|
TX 78712 USA.
|
|
|
|
Lin, Ken-Hou, Univ Texas Austin, Dept Sociol, Austin, TX 78712 USA.'
|
|
author: Lin, Ken-Hou
|
|
author-email: lin@austin.utexas.edu
|
|
author_list:
|
|
- family: Lin
|
|
given: Ken-Hou
|
|
da: '2023-09-28'
|
|
doi: 10.1287/orsc.2016.1073
|
|
files: []
|
|
issn: 1047-7039
|
|
journal: ORGANIZATION SCIENCE
|
|
keywords: corporate governance; financialization; employment contract
|
|
keywords-plus: 'SIZE-WAGE PREMIUM; INCOME INEQUALITY; SHAREHOLDER VALUE; US ECONOMY;
|
|
|
|
LABORS SHARE; FINANCIALIZATION; FINANCIALISATION; PERFORMANCE; DECLINE;
|
|
|
|
POWER'
|
|
language: English
|
|
month: JUL-AUG
|
|
number: '4'
|
|
number-of-cited-references: '112'
|
|
pages: 972-988
|
|
papis_id: b6832c7d6da5b85ba4a772c9fda2d9fc
|
|
ref: Lin2016risefinance
|
|
times-cited: '42'
|
|
title: The Rise of Finance and Firm Employment Dynamics
|
|
type: article
|
|
unique-id: WOS:000388446100009
|
|
usage-count-last-180-days: '3'
|
|
usage-count-since-2013: '65'
|
|
volume: '27'
|
|
web-of-science-categories: Management
|
|
year: '2016'
|