Financialisation and the management of people: Are leveraged buyouts bad for intrinsic job quality?

TY - JOUR

T1 - Financialisation and the management of people

T2 - Are leveraged buyouts bad for intrinsic job quality?

AU - Hoque, Kim

AU - Bacon, Nick

AU - Boodoo, Muhammad Umar

AU - Wright, Mike

N1 - Funding Information: We are grateful to NatCen Social Research who collected the WERS 2011 data on behalf of the Department for Business, Innovation and Skills, Economic and Social Research Council, UK Commission for Employment and Skills, Advisory, Conciliation and Arbitration Service and National Institute of Economic and Social Research. These data have been accessed through the UK Data Archive. None of these organisations bear any responsibility for the analysis or interpretation within this paper. Publisher Copyright: © 2023 The Authors. Human Resource Management Journal published by John Wiley & Sons Ltd.

PY - 2023/7/15

Y1 - 2023/7/15

N2 - This paper provides the first nationally representative assessment of intrinsic job quality in leveraged buyouts (LBOs). We propose a workforce re-contracting perspective, which views LBOs as having negative implications for some aspects of intrinsic job quality (job demands) but positive implications for others (job resources), and employee wellbeing and affective outcomes that are no different than in comparable non-LBOs. Our empirical findings support this perspective. Nevertheless, we find some evidence that certain LBO types have more negative implications for specific elements of intrinsic job quality than others. However, our overall findings contribute towards studies suggesting that the impact of LBOs on employees is modest, while also highlighting the varying implications of different LBO types for employees.

AB - This paper provides the first nationally representative assessment of intrinsic job quality in leveraged buyouts (LBOs). We propose a workforce re-contracting perspective, which views LBOs as having negative implications for some aspects of intrinsic job quality (job demands) but positive implications for others (job resources), and employee wellbeing and affective outcomes that are no different than in comparable non-LBOs. Our empirical findings support this perspective. Nevertheless, we find some evidence that certain LBO types have more negative implications for specific elements of intrinsic job quality than others. However, our overall findings contribute towards studies suggesting that the impact of LBOs on employees is modest, while also highlighting the varying implications of different LBO types for employees.

KW - commitment

KW - financialisation

KW - job quality

KW - job satisfaction

KW - leveraged buyout

KW - participation

UR - http://www.scopus.com/inward/record.url?scp=85161531248&partnerID=8YFLogxK

U2 - 10.1111/1748-8583.12509

DO - 10.1111/1748-8583.12509

M3 - Article

AN - SCOPUS:85161531248

SN - 0954-5395

VL - 33

SP - 728

EP - 747

JO - HUMAN RESOURCE MANAGEMENT JOURNAL

JF - HUMAN RESOURCE MANAGEMENT JOURNAL

IS - 3

ER -