Jump to ContentJump to Main Navigation
Financialization, New Investment Funds, and LabourAn International Comparison$
Users without a subscription are not able to see the full content.

Howard Gospel, Andrew Pendleton, and Sigurt Vitols

Print publication date: 2014

Print ISBN-13: 9780199653584

Published to Oxford Scholarship Online: April 2014

DOI: 10.1093/acprof:oso/9780199653584.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 14 October 2019

Ambivalent Finance and Protected Labour

Ambivalent Finance and Protected Labour

Alternative Investments and Labour Management in Australia

(p.115) 4 Ambivalent Finance and Protected Labour
Financialization, New Investment Funds, and Labour

Mark Westcott

John Murray

Oxford University Press

This chapter highlights two contradictory trends. Successive federal governments have attempted to create a favourable regulatory environment for financial institutions, including NIFs, through a series of general (reform of the financial market regulation) and specific (tax breaks for venture capital and investment fund capital gains) regulatory initiatives. At the same time, the mix of corporate and labour law in Australia imposes significant impediments to the capacity of new owners to restructure their obligations to the workforce inherited by their purchase. The regulatory web of labour law, with its provisions for transfer of business and current rights for unions to be bargaining agents, means that investors taking over Australian corporate assets have little room to reduce their labour costs in the short term. Notwithstanding these restrictions, PE in particular has become more active in the acquisition of mature businesses, though HFs investing in Australian assets seems to be relatively inactive.

Keywords:   Australia, financialization, new investment funds, labour, employment relations, industrial relations, work, private equity, hedge funds, sovereign wealth funds

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .