Browsing by Author "O'Sullivan, Noel"

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    Sovereign wealth funds, productivity and people The impact of Norwegian Government Pension Fund-Global investments in the United Kingdom
    (Wiley, 2018-04-03) Goergen, Marc; O'Sullivan, Noel; Wood, Geoffrey; Baric, Marijana; https://ror.org/02jjdwm75
    Sovereign wealth funds have an increasing presence in the globalfinancial ecosystem, principally through their investments in equi-ties, which, in turn, may influence HRM. This study examines theinfluence of the world's largest sovereign wealth fund, the Norwe-gian Government Pension Fund‐Global (NGPF‐G), on employmentin its U.K. investee firms. We find that firms with NGPF‐G invest-ment are significantly less likely to reduce their demand for labour,more specifically in the immediate aftermath of the 2008 financialcrisis. When a drop in the demand for labour does occur, it is lessextreme when compared to similar organisations without a NGPF‐Gshareholding, and this is evident even in the case of relatively smallNGPF‐G investments. These findings are in line with the fund's objec-tive of promoting corporate sustainability and Norwegian values.We draw out the key implications of our findings for HR practice.