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Title: Assessing the impact of private equity on industrial relations in Europe
Authors: Bacon, Nick
Wright, Mike
Scholes, Louise
Meuleman, Miguel
Keywords: Buyouts
Human resource management
Industrial relations
Private equity
Trade unions
Issue Date: 2010
Publisher: SAGE © The Author(s)
Citation: BACON, N. ... et al., 2010. Assessing the impact of private equity on industrial relations in Europe. Human Relations, 63 (9), pp. 1343 - 1370.
Abstract: Private equity firms are accused by trade unions of changing industrial relations in buyouts by demonstrating an unwillingness to recognize and work with trade unions, and by downgrading information and consultation. To explore these important policy issues, this article reports the first representative pan-European survey of managers’ perceptions of the impact of private equity on industrial relations. Managers report that private equity investment does not result in changes to union recognition, membership density or changes in management attitudes to trade union membership. Furthermore, managers in firms recognizing unions after private equity buyouts do not report reductions in the terms and conditions subject to joint regulation. Under private equity ownership more firms report consultative committees, managers regard these as more influential on their decisions, and indicate increased consultation over firm performance and future plans. Comparing industrial relations changes in different social models in Europe, the results suggest private equity firms adapt to national systems and traditional national industrial relations differences persist after buyout.
Description: Closed access
Sponsor: The authors would like to thank EVCA for financial support for this study.
Version: Published
DOI: 10.1177/0018726709350087
URI: https://dspace.lboro.ac.uk/2134/19980
Publisher Link: http://dx.doi.org/10.1177/0018726709350087
ISSN: 0018-7267
Appears in Collections:Closed Access (Loughborough University London)

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