The impact of equity markets and corporate governance on labour market flexibility

TY - JOUR

T1 - The impact of equity markets and corporate governance on labour market flexibility

AU - Black, Boyd

AU - Gospel, Howard

AU - Pendleton, Andrew

PY - 2008

Y1 - 2008

N2 - Drawing from various literatures, this article explores links between equity markets and labour market flexibility. Various data sources are used to test relationships for a set of OECD countries, controlling for other likely influences on flexibility such as government and industrial relations institutions. The results are generally supportive as regards employment flexibility: equity market trading activity is associated with shorter job tenure, higher activity rates, and greater employment change over the cycle. However, the relationship between equity markets and pay flexibility is less statistically robust to the addition of controls.

AB - Drawing from various literatures, this article explores links between equity markets and labour market flexibility. Various data sources are used to test relationships for a set of OECD countries, controlling for other likely influences on flexibility such as government and industrial relations institutions. The results are generally supportive as regards employment flexibility: equity market trading activity is associated with shorter job tenure, higher activity rates, and greater employment change over the cycle. However, the relationship between equity markets and pay flexibility is less statistically robust to the addition of controls.

U2 - 10.1080/09585190802323835

DO - 10.1080/09585190802323835

M3 - Article

VL - 19

SP - 1792

EP - 1808

JO - International Journal of Human Resource Management

JF - International Journal of Human Resource Management

IS - 10

ER -