Bhankaraully, Shabneez (2019) 'Contested firm governance, institutions and the undertaking of corporate restructuring practices in Germany.' Economic and Industrial Democracy, 40 (3). 511 - 536. ISSN 0143-831X

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Abstract

This article investigates the undertaking of corporate restructuring practices (employee downsizing and wage moderation) in Germany from 2008 to 2015. The article presents a political perspective that draws on the insights of the power resources approach and of institutional analyses. The theoretical framework highlights how institutional arrangements structure power relations within companies by empowering, in an asymmetrical manner, different categories of firm stakeholders (employees, managers and shareholders) as well as shaping how they relate to each other in an interactive manner. The article’s empirical findings point to the importance of extensive, but contingent, corporate restructuring in Germany. Companies are more likely to implement ‘defensive’ corporate restructuring practices under conditions of high leverage/debt than when confronted by shareholder value driven investors, thereby reflecting the presence of overlapping interests between employees and managers.

Item Type:	Article
Uncontrolled Keywords:	Corporate restructuring, Germany, institutional analyses, power resources approach
Divisions:	Faculty of Social Sciences > Essex Business School Faculty of Social Sciences > Essex Business School > Management Science and Entrepreneurship Group
Depositing User:	Elements
Date Deposited:	19 Jul 2020 20:40
Last Modified:	07 Oct 2020 21:15
URI:	http://repository.essex.ac.uk/id/eprint/28263

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