Encontrados 14 documentos, a visualizar página 1 de 2
Scale, scope and survival : a comparison of cooperative and capitalist modes of...
Monteiro, Natália; Stewart, GeoffThis paper draws on a comprehensive data set from Portugal to investigate the activities, internal characteristics and survival prospects of cooperatives and capitalist enterprises. Consistent with theory, high levels of market concentration and low entry costs were shown to be conducive to cooperatives. Cooperatives were found to be, on average, older and to operate with a larger, more highly educated and more...
Privatization and corporate restructuring
Bastos, Paulo; Monteiro, Natália; Straume, Odd RuneWe examine corporate restructuring following privatization using uncommonly rich data on the population of Portuguese firms from 1991-2009. We find that privatization leads to sizable job losses, refl ecting reductions in both the number of establishments and in the number of workers per establishment. We find no robust evidence of impacts on the structure of the workforce. The estimated job losses following...
The effect of private versus public ownership on labour earnings
Bastos, Paulo; Monteiro, Natália; Straume, Odd RuneWe examine the impact of privatisation on wage formation in unionised labour markets. Using longitudinal worker-firm data for Portugal spanning the period 1991-2007, we find that privatisation leads to higher wages, and show that this effect is driven by the fact that privatised firms tend to pay larger mark-ups on the union wage floor. These findings accord with a theoretical model in which actual paid wages a...
Using propensity matching estimators to evaluate the impact of privatization on...
Monteiro, NatáliaWhether the transfer of ownership rights to the private sector leads to a decline or increase in wage growth is theoretically ambiguous, given that the outcome depends on the uncertain interaction between firms and workers. Using propensity matching techniques, this article investigates the effects of privatization on wages in the Portuguese banking industry. The empirical results, obtained from Quadros de Pess...
Restructuring in privatised firms : a Statis approach
Figueiredo, Adelaide; Figueiredo, Fernanda; Monteiro, Natália; Straume, Odd RuneWe 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 fir...
Firm ownership and rent sharing
Monteiro, Natália; Portela, Miguel; Straume, Odd RuneWe analyse - theoretically and empirically - how private versus public ownership of firms affects the degree of rent sharing between firms and their workers. Using a particularly rich linked employer-employee dataset from Portugal, covering a large number of corporate ownership changes across a wide spectrum of economic sectors over more than 20 years, we find a positive relationship between private ownership a...
Firm heterogeneity and wages in unionised labour markets : theory and evidence
Bastos, Paulo; Monteiro, Natália; Straume, Odd RuneIn many countries wages are set in two stages, where industry-level collective bargaining is followed by firm-specific arrangements determining actual paid wages as a mark-up on the industry wage floor. What explains the wage set in each of these stages? In this paper we show that both the industry wage floor and the average wage cushion are systematically associated with the degree of firm heterogeneity in the...
Firm heterogeneity and wages in unionised labour markets : theory and evidence
Bastos, Paulo; Monteiro, Natália; Straume, Odd RuneIn many countries wages are set in two stages, where industry-level collective bargaining is followed by firm-specific arrangements determining actual paid wages as a mark-up on the industry wage floor. What explains the wage set in each of these stages? In this paper we show that both the industry wage floor and the average wage cushion are systematically associated with the degree of firm heterogeneity in the...
Rent-sharing in Portuguese banking
Monteiro, Natália; Portela, MiguelUsing the fixed effects estimator and the dynamic panel data system-GMM estimator, on a sample of 75 banks, covering the period 1988-2005, this paper estimates how wages in the Portuguese banking sector depend on the employers ability to pay. The results indicate that wages are strongly positively correlated with profits even after controlling for firm and workforce characteristics. The Lester’s range of wages ...
Regulatory reform and labour earnings in Portuguese banking
Monteiro, NatáliaThis study examines changes in union contracts and wage structure during and after the introduction of regulatory reforms (deregulation and privatisation) in the Portuguese banking sector. The main finding is that, despite a relative wage erosion detected in the contract data, banking workers were able to enjoy an increasing wage premium in the period 1985-2000, probably reflecting the increasing profitability ...
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