Investment under company-level pacts before and during the Great Recession

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Bellmann, L.; Gerner, H.-D.; Hübler, O.: Investment under company-level pacts before and during the Great Recession. In: Economic and Industrial Democracy 36 (2015), Nr. 3, S. 501-522. DOI: https://doi.org/10.1177/0143831X13511999

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Sum total of downloads: 83




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Abstract: 
Company-level pacts between the management and the works council are often preferred in comparison to agreements between employers’ association and unions because the former negotiating partners are better informed about the economic situation of a company and have fewer goal conflicts than the latter. Moreover, these company-level pacts might reduce the ‘hold-up’ problems which arise once specialized investment is made. Therefore, this article investigates whether such agreements affect firm-level investment. Based on the IAB Establishment Panel Survey 2001–2010 the study indicates that the adoption of a company-level pact leads to a higher investment rate than in other firms driven by reinvestment. However, the Great Recession has damped this positive influence. From the econometric analysis the article does not detect any increase in investment during the negotiation phase. After the expiration of a company-level pact, lower reinvestment and a small increase in net investment take place. © 2013, © The Author(s) 2013.
License of this version: Es gilt deutsches Urheberrecht. Das Dokument darf zum eigenen Gebrauch kostenfrei genutzt, aber nicht im Internet bereitgestellt oder an Außenstehende weitergegeben werden. Dieser Beitrag ist aufgrund einer (DFG-geförderten) Allianz- bzw. Nationallizenz frei zugänglich.
Document Type: article
Publishing status: publishedVersion
Issue Date: 2015
Appears in Collections:Philosophische Fakultät

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pos. country downloads
total perc.
1 image of flag of Germany Germany 64 77.11%
2 image of flag of China China 4 4.82%
3 image of flag of United States United States 2 2.41%
4 image of flag of Malaysia Malaysia 2 2.41%
5 image of flag of Turkey Turkey 1 1.20%
6 image of flag of Russian Federation Russian Federation 1 1.20%
7 image of flag of Nigeria Nigeria 1 1.20%
8 image of flag of India India 1 1.20%
9 image of flag of Hungary Hungary 1 1.20%
10 image of flag of Finland Finland 1 1.20%
    other countries 5 6.02%

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