Labor adjustments in privatized firms: a Statis approach

Adelaide Maria Figueiredo (), Fernanda Otília Figueiredo () and Natália Monteiro
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Adelaide Maria Figueiredo: LIAAD/INESC-Porto and Faculdade de Economia, Universidade do Porto
Fernanda Otília Figueiredo: CEAUL and Faculdade de Economia, Universidade do Porto

FEP Working Papers from Universidade do Porto, Faculdade de Economia do Porto

Abstract: This paper examines labor adjustments in ten Portuguese banks after the ownership transfer to the private sector. The results show that the restructuring process is a very complex phenomenon, with firms exhibiting diverse adjustments in terms of either speed or path. In addition, our findings also show that the pay level in the banking industry is by far the workforce attribute that changed more, reflecting substantial changes in terms of composition and not size of the workforce. In particular, firms tend to reduce the share of workers in managerial occupations and replace the most experienced employees with younger and more educated workers. Our empirical evidence also suggests that privatization is associated with a higher level of rent sharing.

Keywords: Labor adjustments; Portuguese banking industry; privatization; Statis (search for similar items in EconPapers)
JEL-codes: D21 J31 J51 L13 (search for similar items in EconPapers)
Pages: 15 pages
Date: 2008-12
New Economics Papers: this item is included in nep-ban, nep-bec and nep-lab
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:por:fepwps:306

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