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This article presents culture as a vehicle of labor market sorting. Providing a case study of hiring in elite professional service firms, I investigate the often suggested but heretofore empirically unexamined hypothesis that cultural similarities between employers and job candidates matter for employers' hiring decisions. Drawing from 120 interviews with employers as well as participant observation of a hiring committee, I argue that hiring is more than just a process of skills sorting; it is also a process of cultural matching between candidates, evaluators, and firms. Employers sought candidates who were not only competent but also culturally similar to themselves in terms of leisure pursuits, experiences, and self-presentation styles. Concerns about shared culture were highly salient to employers and often outweighed concerns about absolute productivity. I unpack the interpersonal processes through which cultural similarities affected candidate evaluation in elite firms and provide the first empirical demonstration that shared culture—particularly in the form of lifestyle markers—matters for employer hiring. I conclude by discussing the implications for scholarship on culture, inequality, and labor markets.

We study the allocation and compensation of human capital in the U.S. finance industry over the past century. Across time, space, and subsectors, we find that financial deregulation is associated with skill intensity, job complexity, and high wages for finance employees. All three measures are high before 1940 and after 1985, but not in the interim period. Workers in finance earn the same education-adjusted wages as other workers until 1990, but by 2006 the premium is 50% on average. Top executive compensation in finance follows the same pattern and timing, where the premium reaches 250%. Similar results hold for other top earners in finance. Changes in earnings risk can explain about one half of the increase in the average premium; changes in the size distribution of firms can explain about one fifth of the premium for executives.

An extensive theoretical literature investigates the role of promotions as a signal of worker ability. We extend the theory by focusing on how the signaling role of promotion varies with education and then investigate the resulting predictions using a longitudinal data set that contains detailed information concerning the internal-labor-market history of a medium-sized firm in the financial services industry. Our results support signaling being important for understanding the differences between promotion practices concerning bachelor’s and master’s degree holders, while the evidence concerning the importance of signaling for high school graduates and PhDs is mixed.

This article explores the ways in which male traders negotiate ageing in the highly competitive world of finance. It draws on a study of a UK hedge fund to show how ageing processes intersect with masculinity and class-based bodily practices to reproduce market-based ideals of the sector. Through developing the concept of body accumulation, this article provides a new framework for exploring ageing in an organizational context by demonstrating how masculinity, class and organizational values are mapped onto the traders' bodies over time and in ways that require individuals to continually negotiate their professional value. This not only significantly advances current understanding of how one group of professionals navigate growing older at work, but also highlights the importance of understanding ageing as an accumulation process that takes into account temporal, spatial and cultural dimensions.

Over the last three decades work and employment in the private and public sector are increasingly subject to marketization processes. A defining feature of marketized employment is the rise of performance management systems (PMS). This article utilizes a novel framework of Sayer’s moral economy approach and labour process theory to explore the changing nature of bank work and social relationships between branch managers and branch workers before and after the implementation of PMS in UK banks. This article illustrates how the social and moral texture of the social relationships between branch workers and their managers deteriorated after the implementation of PMS, resulting in the rise of hostile forms of engagement.

The question of how race manifests at work in postcolonial contexts has been an understudied phenomenon by management and organization studies researchers. This article seeks to address the void in the extant literature by drawing on the rich experiences of a visible minority investment banker who worked in several countries with colonial legacies. Presented as a narrative, the banker’s experience conceptualizes how race ubiquitously materializes in both the field of high finance and the broader postcolonial communities in which it is situated. Indeed, the narrative illuminates the contemporary complexities of race as it unfolds discursively within the organizational setting of high finance. Finally, the article considers some of the implications of racism on visible minority professionals in the era of postcoloniality.

In this paper, we examine whether digital finance affects employment quality of migrant workers in China. Based on a nationwide micro data, our empirical results show that migrant workers do benefit from digital finance at the aspect of employment quality. Migrant workers in cities with higher level of digital finance have a higher level of employment quality. The results are robust to a number of variations in our empirical models. Moreover, the positive effect of digital finance on employment quality of migrant workers is stronger for younger, female, and new generation migrant workers, and for migrant workers with lower employment quality and those working in the eastern region. The results of this article are of great significance for clarifying the relationship between digital finance and the employment quality of migrant workers, improving policies and measures related to the floating population, and promoting high-quality economic development.

\"The article explores how employee participation influences the quality of the work environment and workers' well-being at 11 Danish workplaces from within six different industries. Both direct participation and representative forms of participation at the workplace level were studied. Statistical as well as qualitative comparative analyses reveal that work environment quality and high levels of participation go hand in hand. Within a typology of participation models the highest level of participation, including strong elements of collective participation, and also the best work environment, measured as 'psychosocial well-being', were found at workplaces managed in accordance with democratic principles.\" (Author's abstract, IAB-Doku). Forschungsmethode: empirisch-qualitativ; empirisch; Befragung. Die Untersuchung bezieht sich auf den Zeitraum 2008 bis 2008.

This study aims to analyze the relationships between corporate governance instruments on the wealth of financial intermediaries in wide-ranging. The data employed in this study are secondary data from nine (9) commercial banks and covered the years 2013-2020. The approach used in data processing is a 2SLS estimation and multilevel mixed-effects for the dependent variable natural logarithm of total assets. The results provided by the econometric analysis show that board size, sovereign committees, Net Interest Margin (NIM), Non-Performing Loans (NPL’s), and equity to liabilities have an important impact on the protection of the assets of financial institutions. While surprising results have been generated in the composition of the board structure in terms of gender diversity, they have turned out to be insignificant. The originality and value of this study lie in the approach of including the characteristics of the board, as well as the combination of some financial indicators different from previous studies, which makes more comprehensive the study of the impact of board composition on increasing the wealth of banks.

Raghuram Rajan was one of the few economists who warned of the global financial crisis before it hit. Now, as the world struggles to recover, it's tempting to blame what happened on just a few greedy bankers who took irrational risks and left the rest of us to foot the bill. In Fault Lines, Rajan argues that serious flaws in the economy are also to blame, and warns that a potentially more devastating crisis awaits us if they aren't fixed.