Firm Ownership and Rent Sharing

Monteiro, Natália P.; Portela, Miguel; Straume, Odd Rune

doi:10.1007/s12122-011-9109-6

Cited by 4 publications

(4 citation statements)

References 36 publications

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“…The optimal employment level chosen by the firm is implicitly given by: 17 We assume here for simplicity that the wage level is exogenously given. However, the ownership effects on employment would be qualitatively similar if we endogenize wages by assuming that they are decided in bargaining between the firm and a trade union, as in Monteiro et al (2011), or that they are a result of firm-specific 'fair wage' policies, as in Bastos et al (2011). Empirical results from additional regressions (not reported but available upon request) show that our findings hold when controlling for wages.…”

Section: Appendix A: Definition Of Skill Groupsmentioning

confidence: 72%

“…where x :¼ w e and x :¼ w e are the effective wage and reference wage levels, respectively. 18 As in Monteiro et al (2011) and Bastos et al (2011), we assume that private ownership has potentially two different effects (relative to public ownership): (i) stronger profit orientation and (ii) higher worker effort.…”

Section: Appendix A: Definition Of Skill Groupsmentioning

confidence: 99%

“…However, the ownership effects on employment would be qualitatively similar if we endogenize wages by assuming that they are decided in bargaining between the firm and a trade union, as in Monteiro et al . (), or that they are a result of firm‐specific ‘fair wage’ policies, as in Bastos et al . ().…”

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confidence: 99%

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The impact of private vs. public ownership on the level and structure of employment

2014

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We examine the effects of private vs. public ownership on the level and structure of employment using uncommonly rich data on the population of Portuguese firms from 1991 to 2009. We find that private ownership is associated with sizeable job losses. This occurs whether we consider privatizations or nationalizations, and the relationship tends to be stronger in the presence of foreign capital. We also find some evidence that private ownership is associated with higher skill utilization, particularly following privatizations and when foreign investment is present. The estimated job losses associated with private ownership are consistent with a theory in which the shift in ownership increases the degree of profit orientation and leads to lower job security.JEL classifications: C23, D21, J45.

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Section: Appendix A: Definition Of Skill Groupsmentioning

confidence: 72%

Section: Appendix A: Definition Of Skill Groupsmentioning

confidence: 99%

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The impact of private vs. public ownership on the level and structure of employment

2014

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“…However, this literature is largely silent on the effect of different types of firm ownership. A recent exception is Monteiro et al (2010) who find that private firm ownership is associated with a higher level of rent sharing. First, we do not confine our analysis of the effects of privatisation to separate analyses with multiple measures of firm performance or labour market outcomes.…”

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Restructuring in privatised firms: A Statis approach

Figueiredo

Monteiro

et al. 2012

Structural Change and Economic Dynamics

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We analyse the dynamics and evolution of the corporate restructuring process in the Portuguese banking sector, where 10 banks were privatised during the period 1989-1996. We apply a novel methodological approach in this context, using a multidimensional measure of restructuring that links product and labour market variables.We find evidence of considerable heterogeneity in the restructuring process, where firms adjust at different speeds and intensities. We also find that the wage level is by far the firm attribute that changed more, which is shown to reflect substantial changes in terms of composition, and not size, of the workforce. Our empirical evidence also suggests that privatisation is associated with a higher level of rent sharing.

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Trade unions and corporate social responsibility

Goerke

2020

Ann Public Coop Econ

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Trade unions distort a profit‐maximizing firm's input choice. The nature of the resulting inefficiency depends on whether there are wage negotiations or there is efficient bargaining. Moreover, trade unions redistribute income and thereby affect welfare. If firms also pursue Corporate Social Responsibility (CSR) objectives, input choices may be distorted already in the absence of collective bargaining. Adopting a positive perspective, we show that CSR objectives, which induce a firm to expand production, have ambiguous wage and employment consequences in case of wage negotiations and raise employment if there is efficient bargaining. Importantly from a normative vantage point, such CSR objectives make a welfare‐enhancing role of trade unions more likely in the presence of wage negotiations. The reverse is true in case of efficient bargaining.

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Firm Ownership and Rent Sharing

Cited by 4 publications

References 36 publications

The impact of private vs. public ownership on the level and structure of employment

The impact of private vs. public ownership on the level and structure of employment

Restructuring in privatised firms: A Statis approach

Trade unions and corporate social responsibility

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