Measuring the efficiency of restructuring in the main spanish financial institutions
DOI:
https://doi.org/10.14422/icade.i93.y2014.001Keywords:
Workforce restructuring, Downsizing, Layoffs, efficiency, profitability, productivityAbstract
During a recession, many firms favour a strategy of reducing the number of employees by restructuring their workforce. Focusing on the particular case of redundancy, this study will analyze the effect that downsizing has had on levels of profitability, efficiency and productivity, on the top five entities of the Spanish banking system/financial sector. With this in mind, the study uses the example of five organizations in the financial sector that are all listed on the IBEX 35 over a 10 year time span (2003-2012).
References
AHMADJIAN, C. L. y ROBINSON, P. (2001), “Safety in numbers: Downsizing and the deinstitutionalization of permanent employment in Japan”, Administrative Science Quarterly, núm 46, 622-654.
ARBOLEDAS, J. R. P., HORTAL, J. P. y DE ENTERRÍA PÉREZ, A. G., (2002), Libro Blanco: Las mejores prácticas (Bestpractices) en los procesos de reestructuración de plantillas, Universidad de Navarra, IESE; CREADE: Sagardo y Abogados.
BAND, D. C. y TUSTIN, C. M. (1995), “Strategic downsizing”, Management Decision, núm. 33. 36-45.
BAUMOL, W. J., BLINDER, A. y WOLFF, E. N. (2003), Downsizing in America: Reality, causes, and consequences, New York: Russell Sage Foundation.
BOWMAN, E. H. y SINGH, H. (1993), “Corporate restructuring: Reconfiguring the firm”, Strategic Management Journal, núm. 14, 5-14.
BROCKNER, J., GROVER, S., REED, T. F. y DEWITT, R. L. (1992), “Layoffs, job insecurity, and survivors’ work effort: Evidence of an inverted-U relationship”, Academy of Management Journal, núm. 35, 413-425.
BRUTON, G. D., KEELS, J. K. y SHOOK, C. L. (1996), “Downsizing the firm: Answering the strategic questions”, The Academy of Management Executive (1993-2005), núm. 10, 38-43.
BUDROS, A. (2002), “The mean and lean firm and downsizing: Causes of involuntary and voluntary downsizing strategies”, Sociological Forum , núm. 17, 307-342.
DÍEZ, J., REDONDO, C., BARREIRO, B., y LÓPEZ, M. A. (2002), Administración de empresas. Dirigir en la sociedad del conocimiento, Madrid: Pirámide.
DULWORTH, M. (1991), Evaluación y Mejoramiento de la Productividad, Venezuela: Documentos Clave.
ESPAHBODI, R., JOHN, T., VASUDEVAN, G. (2000), “The Effects of Downsizing on Operating Performance”, Review of Quantitative Finance and Accounting, núm. 15, 107-126.
FERNÁNDEZ, J. A. (2006), “¿Qué sabemos realmente acerca de las reestructuraciones de plantillas? Una aportación teórica”, Economic Analysis Working Papers (EAWP), núm.5, 1-17.
FILATOTCHEV, I., BUCK T. y ZHUKOV, V. (2000), “Downsizing in Privatized Firms in Russia, Ukraine, and Belarus”, Academy of Management Journal, núm. 43, 286-304.
FREEMAN, S. J. (1994), “Organizational downsizing as convergence or reorientation: implications for human resource management”, Human Resource Management, núm. 33, 213-238.
GOMEZ, S. y MARTI, C. (2003), “Las Prejubilaciones y su impacto en la persona, en la empresa y en el sistema de pensiones”, IESE Research Papers.
GUTHRIE, J. P. y DATTA, D. K. (2008), “Dumb and dumber: The impact of downsizing on firm performance as moderated by industry conditions”, Organization Science, vol. 19, 108-123.
HILLIER, D., MARSHALL, A., MCCOLGAN, P. y WEREMA, S. (2007), “Employee Layoffs, Shareholder Wealth and Firm Performance: Evidence from the UK”, Journal of Business Finance & Accounting, núm. 34, 467-494.
HITT, M. A., HOSKISSON, R. E. y IRELAND, R. D. (1994), “A mid-range theory of the interactive effects of international and product diversification on innovation and performance”, Journal of Management, núm.20, 297-326.
HORTAL, P. (2006), “Recolocación o cómo encontrar trabajo rápidamente después de un despido”, Capital Humano, núm. 199, 22-28.
HUSELID, M. (1995), “The impact of human resource: Management practices on turnover, Productivity, and corporate Financial performance”, Academy of Management Journal, núm. 38, 635-672.
IBORRA, M., DASÍ, Á., DOLZ, C. y FERRER, C. (2007), Fundamentos de dirección de empresas, Madrid: Thomson.
KOONTZ, H., WEIHRICH, H. y CANNICE, M. (2008), Administración. Una perspectiva global y empresarial, México: Mc-Graw Hill.
LOVE, G. y KRAATZ, M. (2009), “Character, conformity, or the bottom line? How and why downsizing affected Corporate reputation”, Academy of Management Journal, núm. 52, 314-355.
LOVE, G. y NOHRIA, N. (2005), “Reducing slack: the performance consequences of downsizing by large industrial firms”, Strategic Management Journal, núm. 26, 1087-1108.
MCELROY, J., MORROW, P. y RUDE, S. (2001), “Turnover and organizational performance: a comparative analysis of the effects of voluntary, involuntary and reduction-in-force turnover”, Journal of applied Psychology, núm. 86, 1294-1299.
MAGÁN, A. y CÉSPEDES, J. (2007), “Difusión del downsizing en la empresa española. Análisis del modelo de dos etapas”, Revista europea de Dirección y Economía de la Empresa, núm. 16, 55-72.
MARKIDES, C. C. (1995), “Diversification, restructuring and economic performance”, Strategic Management Journal, núm.16, 101-118.
MARR, R. y GARCÍA, S. G. (1997), La dirección corporativa de los recursos humanos, Madrid: Díaz de Santos.
MARTÍN, D. (2007), “El proceso de reestructuración de plantilla paso a paso”, Capital Humano, núm. 206, 68-73.
MELLAHI, K. y WILKILSON, A. (2010), “A Study of the Association between Level of Slack Reduction Following Downsizing and Innovation Output”, Journal of Management Studies, núm. 47, 483-508.
MCKINLEY, W., MONE, M. A. y BARKER, V.L. (1998), “Some ideological foundations of organizational downsizing”, Journal of Management Inquiry, núm. 7, 198-212.
MENTZER, M. (1996), “Corporate Downsizing and Profitability in Canada”, Canadian Journal of Administrative Sciences, núm.13, 237-250.
MORRIS, J., CASCIO, W. y YOUNG, C. (1999), “Downsizing After all These Years: Questions and Answers About who Did It, How Many Did It, and who Benefited from It”, Organizational Dynamics, núm. 27, 78-87.
MUÑOZ, F. y SANCHEZ, M. J. (2011), “Does downsizing improve organizational performance? An analysis of Spanish manufacturing firms”, The International Journal of Human Resource Management, núm. 22, 2924–2945.
MUÑOZ, F. y SANCHEZ, M. J. (2010), “Downsizing implementation and financial performance”, Management Decision, núm. 48, 1181-1197.
NANTAPORN, M. y KLEINER, B. (2003), “The Effect of Downsizing on Morale y Attrition”, Management Research News, núm. 26, 2-4.
NIXON, R. D., HITT, M. A., LEE, H. y JEONG, E. (2004), “Market reactions to announcements of corporate downsizing actions and implementation strategies”, Strategic Management Journal, núm.25, 1121-1129.
NONAKA, I. y TAKEUCHI, H. (2007), “The knowledge-creating company”, Harvard Business Review, núm. 85, 162.
ODETTE, M. O., SUÁREZ, I. y VICENTE, J. D. (2009), “Downsizing y su efecto en los resultados en la gran empresa española”, Revista europea de Dirección y Economía de la Empresa, núm 18, 13-28.
O’SHAUGHNESSY K. C. y FLANAGAN D. J. (1998), “Determinants of layoff announcements following M&As: An empirical investigation”, Strategic Management Journal, núm. 19, 989 999.
PERRY, T. y SHIVDASANI, A. (2005), “Do boards affect performance? Evidence from corporate restructuring”, Journal of Business, núm. 78, 1403- 1431.
PFEIFER, C. (2007), “The Perceived Fairness of Layoffs in Germany: Participation, Compensation, or Avoidance?”, Journal of Business Ethics, núm. 74, 25-36.
PICHAULT, F. y RORIVE, B. (2003), “«Restructurations et nouveaux périmètres organisationnels: le rôle de la fonction RH»”, Actes de la Journée d’études «Les restructurations: volontéoufatalité», GREGOR-IAE de Paris.
REQUEJO, A. (1996), “Reducción de plantilla y problemas de viabilidad financiera: el papel de la estructura de capital”, Investigaciones Económicas, núm. 20, 43-70.
ROBBINS, S. P. y COULTER, M. (2005), Administración, México: Prentice Hall.
SANCHEZ, M.J. y SUAREZ, I. (2005), “Los procesos de reducción de plantillas en el ámbito español: motivos y modalidades utilizadas”, Revista Europea de Dirección y Economía de la Empresa, núm. 14, 81-96.
SASTRE, M.Á. (1995), “Outplacement. Una aproximación a su realidad teórica.”, Cuadernos de Relaciones Laborales, núm. 6, 185.
SHEAFFER, Z., CARMELI, A., STEINER-REVIVO, M. y ZIONIT, S. (2009), “Downsizing strategies and organizational performance: a longitudinal study”, Management Decision, núm. 47, 950-974.
SUAREZ, I. (1999), “Decisiones de reducción de la plantilla en la gran empresa española”, Investigaciones Europeas de Dirección y Economía de la Empresa, núm. 5, 79-100.
SUAREZ, I. y VICENTE, J. D. (2000), “Decisiones de reestructuración organizativa en la gran empresa española durante la década de los noventa”. (Documento de Trabajo 07/00).
WAYHAN, V. B. y WERNER, S. (2000), “The impact of workforce reductions on financial performance: A longitudinal perspective”, Journal of Management, núm. 26, 341-363.
WHETTEN, D. A. y GODFREY, P. C. (1998), Identity in organizations: Building theory through conversations, Sage Publications, Inc.
WORRELL, D. L., DAVIDSON, W. N. y SHARMA. V. M. (1991), “Layoff announcements and stockholder wealth”, Academy of Management Journal, núm.43, 662-678.
YOO, H. y MODY, B. (2000), “Predictors of downsizing in the US local telephone industry”, Information Society, núm.16, 23-33.
YU, G. y PARK, J. (2006), “The effects of downsizing on the financial performance and employee productivity of Korean Firms”, International Journal of Manpower, núm. 27, 230-250.
Downloads
Published
How to Cite
Issue
Section
License
The authors of articles published in icade. Revista de la Facultad de Derecho retain the intellectual property rights over their works and grant the journal their distribution and public communication rights, consenting to their publication under aCreative Commons Attribution-NonCommercial-NoDerivates 4.0 Internacional. Authors are encouraged to publish their work on the Internet (for example, on institutional or personal pages, repositories, etc.) respecting the conditions of this license and quoting appropriately the original source.
