Publication: Sovereign wealth funds, productivity and people The impact of Norwegian Government Pension Fund-Global investments in the United Kingdom
Loading...
Date
2018-04-03
Advisor
Court
Journal Title
Journal ISSN
Volume Title
Publisher
Wiley
Defense Date
Metrics
Citation
Abstract
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.
Unesco subjects
License
Attribution-NonCommercial-NoDerivatives 4.0 International
School
IE Business School
Center
Keywords
Citation
Goergen, M., O'Sullivan, N., Wood, G., & Baric, M. (2018). Sovereign wealth funds, productivity and people: The impact of Norwegian Government Pension Fund‐Global investments in the United Kingdom. Human Resource Management Journal, 28(2), 288-303. https://doi.org/10.1111/1748-8583.12179.