Financialisation in the automotive industry : capital and labour in contemporary society
Author(s)
Bibliographic Information
Financialisation in the automotive industry : capital and labour in contemporary society
（Routledge frontiers of political economy）（Routledge focus）
Routledge, 2022
- : hbk
Available at / 2 libraries
-
No Libraries matched.
- Remove all filters.
Note
Includes bibliographical references (p. [126]-137) and index
Description and Table of Contents
Description
Where presidents or members of affluent families were previously seen, it is increasingly the case that car manufacturers are owned by banks and investment funds which have taken control of the entire economic life of these firms. This has significant impact on the terms of employment and layoffs, wages and precarious work, growing inequalities in income strata, compensation levels for executives, and the implementation of short-termist strategies across business operations.
This book explores this increasing financialisation - the predominance of the financial sector over the productive sector - in the automotive industry. In particular it is shown that the financial operations of these companies through leasing, insurance, loans and other financial instruments is now much more profitable than the manufacturing aspects of the business, which was originally the raison d'etre for these fi rms. The chapters demonstrate how there are great demands to increase the return to shareholders as a main concern, despite other metrics and/ or other stakeholders. The work studies the impact of financialisation at the world's five largest automakers which together represent almost 50% of car production, providing an exploratory analysis of profitability, shareholder composition, compensation to executives, workers' salaries, dividend payments to shareholders and employment.
Encouraging debate on contemporary economy, this book marks a significant addition to the literature on financialisation, contemporary forms of capitalism, labour and economic sociology more broadly.
Table of Contents
[Preface by Ismail Erturk] (1) Introduction (2) Profits obtained through financial activities versus profits obtained through productive activities (3) Shareholding Composition (4) Shareholders Acquisitions (5) Origin of the Company Directors (6) Dividend Payments to Shareholders (7) Compensations to Executives (8) Employees' Salaries and Employment (9) Conclusions [Afterword by Raphael Jonathas da Costa Lima]
by "Nielsen BookData"
