Restructuring in privatised firms: A statis approach

• Type: Article in International Scientific Journal
• Date: 2012

Authors

Adelaide Figueiredo (Author) FEP; Fernanda Figueiredo (Author) FEP; Monteiro, N.P. (Author) Other; Straume, O.R. (Author) Other

Journal

Title: Structural Change and Economic Dynamics

Vol. 23

Pages: 108-116

ISSN: 0954-349X

Publisher: Elsevier

Indexing

ISI Web of Knowledge

Scopus - 0 Citations

Econlit

Scientific classification

CORDIS: Social sciences > Economics ; Physical sciences > Mathematics

Other information

Authenticus ID: P-008-18Z

DOI: 10.1016/j.strueco.2011.10.005

Abstract (EN): 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. © 2011 Elsevier B.V.

Language: English

Type (Professor's evaluation): Scientific

No. of pages: 9