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Financial Management and Financial Performance in British Trade Unions
Author(s) -
Willman Paul,
Morris Timothy
Publication year - 1995
Publication title -
british journal of industrial relations
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.665
H-Index - 70
eISSN - 1467-8543
pISSN - 0007-1080
DOI - 10.1111/j.1467-8543.1995.tb00436.x
Subject(s) - sophistication , finance , financial management , geography of finance , accounting management , strategic financial management , financial analysis , business , financial ratio , indirect finance , bureaucracy , economics , financial econometrics , financial regulation , financial intermediary , financial system , accounting , political science , management , accounting information system , social science , sociology , strategic planning , politics , law
This article examines changes in the financial performance of British trade unions in the early 1990s. Using survey data, it looks for a relationship between changes in financial management and changes in financial performance. Unions have continued to increase the concentration of financial decision‐making and the sophistication of financial systems. However, financial concerns have become no more central to union decision‐making and as a result financial management improvements do not lead to improvements in financial performance. We argue that new financial management techniques lead to increases in the cost base as union organizations become more centralized and bureaucratic. The implications for representative effectiveness are discussed.