Georgina Murray

Finance capital, jobs and restructuring corporate ownership in the United States

Published 2011

Publication Type: Conference Publications

Author(s): David Peetz, Georgina Murray

Finance capital, jobs and restructuring corporate ownership in the United States David Peetz & Georgina Murray Griffith University We analyse data on ownership, global employment growth, assets and sale/revenue amongst the 221 largest US industrial corporations (by market capitalisation) to consider their patterns of ownership and how the restructuring of that ownership during the financial crisis may have affected the stability, concentration and composition of finance capital and changes in employment at the firm level. We found that instability associated with the global financial crisis created new patterns of dominance in finance capital, as banks lost their leading position, though less dramatically than some may have expected. We found strong evidence of high and increasing concentration of the ownership and control of leading industrial corporations by leading finance capital firms. Those in the most powerful positions in finance capital during periods of crisis were able to maintain their relative power, despite volatility elsewhere. And we found that employment growth was negatively linked to ownership instability and to ownership by banks in particular.

View Resource

Recent Articles

• Women, capitalism and education: On the pedagogical implications of postfeminism

• Who owns the world? Tracing half the corporate giants’ shares to 30 owners

• Class and climate: how financial warfare affects the air

• The government is swimming against the tide on Westpac’s Adani decision

• Financial Markets, Climate Change, and Paradoxes of Coordination and Intervention.

• The relationships between children’s behaviour and aspects of work, safety and wellbeing within families of mine and energy workers

• Restrukturierung des Eigentums an großen Unternehmen während der Finanzkrise. Deutschland und die USA im Vergleich,WSI-Mitteilungenx

• Relationships between children’s behaviour and parents’ work within families of mining and energy workers

• Wem gehören die großen Unternehmen? Restrukturierung des Eigentums während der Finanzkrise in Deutschland und den USA

• Work-related influences on marital satisfaction amongst shift-workers and their partners: a large, matched-pairs study,