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SUMMARY:INSURANCE BETWEEN FIRMS: THE ROLE OF INTERNAL LABOUR MARKETS - Gia
 cinta Cestone\, Associate Professor\, Cass Business School
DTSTART:20191204T130000Z
DTEND:20191204T140000Z
UID:TALK133681@talks.cam.ac.uk
CONTACT:Emily Brown
DESCRIPTION:We explore how business groups use internal labour markets (IL
 Ms) in response to changing economic conditions. We show that group affili
 ated units faced with positive shocks to growth opportunities gain market 
 share relying on their ILM to ensure swift hiring\, especially of managers
 \, high skill workers and skilled blue collar workers. A closer access to 
 the group’s human capital facilitates employee relocations in order to f
 ully exploit growth opportunities. Adverse shocks affecting one unit in th
 e organisation increase workers’ mobility to other units in the group ra
 ther than to external firms\, with stricter employment protection causing 
 an additional increase in internal mobility. Overall\, ILMs provide an ins
 urance mechanism between firms in a group\, allowing such organisations to
  bypass hiring and firing frictions\; they provide job stability to employ
 ees as a by product.
LOCATION:LT4\, Cambridge Judge Business School
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