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The effect of shareholder governance on unemployment: a survey
[L’effet de la gouvernance actionnariale sur l’emploi et le chômage : une revue de la littérature]

Author

Listed:
  • Nicolas Piluso

    (CERTOP - Centre d'Etude et de Recherche Travail Organisation Pouvoir - UT2J - Université Toulouse - Jean Jaurès - UT - Université de Toulouse - UT3 - Université Toulouse III - Paul Sabatier - UT - Université de Toulouse - CNRS - Centre National de la Recherche Scientifique, IUT Paul Sabatier - Institut Universitaire de Technologie - Paul Sabatier - UT3 - Université Toulouse III - Paul Sabatier - UT - Université de Toulouse, UT3 - Université Toulouse III - Paul Sabatier - UT - Université de Toulouse)

Abstract

The purpose of this article is to analyse the impact of shareholder governance on employment and unemployment through a literature review. More precisely, it aims to identify all the transmission channels studied, which range from the financial profitability standard demanded by shareholders to the level of unemployment. Both empirical and theoretical studies point to the deleterious effect of the financial return standard on employment. Several explanatory mechanisms can be highlighted, such as a crowding-out effect on productive investment or the search for risk transfer from shareholders to employees. In other words, while shareholder governance is supposed to improve corporate performance, the perspective adopted is only that of the short term, since insufficient investment and insufficient job creation deprive firms of productivity gains and productive capacity in the longer term.

Suggested Citation

  • Nicolas Piluso, 2024. "The effect of shareholder governance on unemployment: a survey [L’effet de la gouvernance actionnariale sur l’emploi et le chômage : une revue de la littérature]," Post-Print hal-04136377, HAL.
    • Handle: RePEc:hal:journl:hal-04136377
    DOI: 10.3917/ror.191.0043
    as

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