Union Bargaining Power and Institutional Investors
Evidence from 20 OECD Countries, 1980-2017
Bibliographic Data
| ID | 3233545 |
|---|---|
| Authors | Yasmine Mohamed, Thibault Darcillon (0000-0001-7483-5148, Yasmine Mohamed is a Professor of Industrial Relations at the University of Quebec in Abitibi-Témiscamingue (UQAT). Thibault Darcillon is an Associate Professor of Economics at the University of Paris VIII Vincennes Saint-Denis, corresponding author) |
| Year | 2023 |
| Volume | 76 |
| Issue | 5 |
| Pages | 864-889 |
| Publication date | 2023-10-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Industrial and Labor Relations Review (JOURNAL) |
| Journal identifiers | ISSN: 0019-7939 • E-ISSN: 2162-271X |
| Publisher | SAGE Publications Inc (PUBLISHER) |
| DOI | 10.1177/00197939231181586 |
| OpenAlex | W4381888761 |
| Language | EN |
| Citations received | 4 |
| References cited | 53 |
This article investigates the relationship between the share of assets held by institutional investors relative to GDP and a synthetic index of union bargaining power in 20 OECD countries from 1980 to 2017. Findings from the use of fixed-effects OLS and instrumental variables regressions show that the share of assets held by institutional investors, especially insurance companies and pension funds, is correlated with a decline in union bargaining power. The authors argue that by contributing to significant changes in corporate strategies and governance through potential effects on jobs and wages, institutional investors in most OECD countries may have weakened the influence of trade unions, thereby leading to a higher decentralization of wage bargaining. Mixed evidence is found, however, when investigating the role of complementarity across institutions to explain cross-country heterogeneity
Bargaining power · Collective bargaining · Complementarity (molecular biology) · Corporate governance · Decentralization · Economics · Explanatory power · Index (typography) · Labour economics · Market economy · Pension · Union density · Wage · Corporate Finance and Governance · Finance · Labor Movements and Unions · Social Policy and Reform Studies
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| Unique citing works | 4 |
|---|---|
| Citations per year | 1,33 |
| Citation span | 2023 - 2025 (3) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 4 |