Re‐connecting capitalism: prospects for the regulatory reform of the employee interest in UK takeovers

Chris Rees and Michael Gold

Industrial Relations Journal, 2020, vol. 51, issue 6, 502-516

Abstract: This article draws upon the disconnected capitalism thesis (DCT) to analyse UK takeovers and their implications for workers. The DCT refers to the disconnect between the source of value creation (the labour process) and the wider political economy. Specifically, we highlight a particular aspect of this disconnect whereby those who create value and have a long‐term stake in firms (employees and managers at the firm level) are disconnected from decisions regarding takeovers, as a consequence of wider economic and political trends (processes of financialisation/marketisation and associated state support for a neoliberal takeover regime). We outline these trends and argue the case for a re‐connect, which will require empowering employees and managers to have more influence in takeover decisions and, in turn, disempowering shareholders and financial intermediaries. The article thus highlights the regulatory space for takeovers and considers feasible policy options, a set of interlinked regulatory changes, which will in particular require a more assertive state.

Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1111/irj.12310

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:indrel:v:51:y:2020:i:6:p:502-516

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0019-8692

Access Statistics for this article

Industrial Relations Journal is currently edited by Peter Nolan

More articles in Industrial Relations Journal from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().