Change in SMEs: Towards a New European Capitalism?

In the debate on the varieties of capitalism, most attention is given to large corporations. If listed on capital markets, they are not only a preferred target of new actors and rules, but are also perceived as a driving force for institutional change and globalization. Most, if not all, institutional features of the distinct versions of capitalism have been analyzed only with regard to this type of enterprise. This book takes the view that European capitalism cannot be understood without taking small and medium-sized enterprises (SMEs) into account. It argues that the neglect of size differences of firms in various literature has led to shortfalls in understanding the institutional framework and has obscured an important area of institutional and corporate change. This volume employs a comparative perspective to explore the impact of the institutional and structural changes on corporate governance, management culture, and social relationships in SMEs in different European countries.

Table of Contents:
Why should the Varieties Literature Grant Smaller Firms more Attention? An Introduction; K.Bluhm& R.Schmidt PART I: CHANGING FINANCING, OWNERSHIP AND FIRM MANAGEMENT The Power of Financial Markets: What does that Mean and how does it Work for Different Categories of Companies?; J.Kadtler& M.Faust Change within Traditional Channels: German SMEs, the Restructuring of the Banking Sector, and the Growing Shareholder-value Orientation; K.Bluhm& B.Martens Corporate Financing, Management and Organization: An Anglo-German Comparison; M.Geppert& B.Martens Stakeholder or Shareholder Orientation? Entrepreneurial Careers and Value Preferences of Entrepreneurs in East Germany; R.Lang SMEs in France: Perspectives and New Generation of Small Business Owners; A.Fayolle& S.Fattoum Family Business and Family Change: The End of Patriarchalism; H.Kotthoff PART II: SMES IN GLOBALIZED PRODUCTION NETWORKS SMEs in the Global Economy: A Comparison of the Global Production Networks of German and British Clothing Firms; C.Lane& J.Probert Flexibility and Formalization: Rethinking Space and Governance in Corporations and Manufacturing Regions; G.Herrigel Innovation Strategies of Non-research SMEs in Europe: H.Hirsch-Kreinsen From the 'Wild West' Towards Europe: SMEs in Poland: T.Borkowski& A.Marcinkowski PART III: LABOUR RELATIONS IN CHANGE Structural Changes and New Forms of Social Regulation in the 'Third Italy': V.Telljohann Polish SMEs at a Crossroads: Market Strategies and Labour Relations in Global Competition: R-E.Lungwitz, M.Wannoffel&Y.Ruckert Unravelling Regulation: How Production Relocation to the East Impacts the German Model of Labour Relations; M.Fichter Irregular Forms of Interest Representation in SMEs: A German-French Comparison; I.Artus Social Relationships in German SMEs: An East-west Comparison; R.Schmidt

About the Author :
KATHARINA BLUHM is Assistant Professor for Sociology at the Friedrich-Schiller-University of Jena and currently fellow at the Wissenschaftszentrum in Berlin (WZB). She has been a Research Fellow at the Center for European Studies at Harvard. Her research focuses on varieties of capitalism east-central Europe, relocation of production, economic and management sociology. RUDI SCHMIDT is Emeritus Professor of Sociology and has held university and research posts at the universities of Berlin, Erlangen and Jena. His research interests include the sociology of work and management, industrial relations, the modernization of industry and production systems and transition in east-central Europe.