Private equity as a commodification of companies: the case of the German automotive supply industry

IF 3.3 3区经济学 Q1 DEVELOPMENT STUDIES

Journal of Economic Policy Reform Pub Date : 2019-09-25 DOI:10.1080/17487870.2019.1637590

Christoph Scheuplein

引用次数: 7

Abstract

ABSTRACT Private equity is a form of financialization in which companies become commodities. This paper examines for the first time the impact of private equity on a single sector, the automotive supply industry, in a coordinated market economy. It demonstrates that companies hereby entered a cycle of uncertainty: many were taken over by financial investors several times, they were divorced from their regional production ties, and were given international owners. In addition, corporate governance changed, keeping employees away from traditional information and decision-making channels

查看原文本刊更多论文

作为企业商品化的私人股本:以德国汽车供应行业为例

私募股权是一种金融化形式，公司在其中成为商品。本文首次考察了在协调的市场经济中，私人股本对汽车供应业这一单一部门的影响。这表明，公司由此进入了一个不确定性的循环：许多公司多次被金融投资者接管，脱离了地区生产关系，并获得了国际所有者。此外，公司治理发生了变化，使员工远离传统的信息和决策渠道

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Journal of Economic Policy Reform Multiple-

CiteScore

6.60

自引率

0.00%

发文量

期刊介绍： The Journal of Economic Policy Reform focuses on the analysis of economic policy reform. The journal draws upon what lessons can be learned from the successes and failures of countries undertaking reforms and how existing theories can be developed to shed light on positive as well as normative aspects of the reform process. The Journal of Economic Policy Reform encourages work from economists and political economy analysts on policies to promote growth and reduce poverty, intellectual property rights, aid versus trade, debt and debt relief, taxation and social security systems, surveys of key reform issues, as well as on corruption, democracy, emerging markets and the role of multilateral institutions.