• financialization
• wage share
• automotive sector

To study the role of financialization in manufacturing sector, I focus on the automotive
industry (2-digit NACE 29) at global level retrieving data from Orbis Bureau van Dijk. In
particular, I observe the impact of a change in the ownership structure on the functional income
distribution at rm-level, further discriminating for nal assemblers and component producers to
possibly highlight different effects on labour share of being placed at various positions along the
global value chain. The peculiarity of my Master thesis lies
in fact in the definition of financialisation. Actually, it relies on firms' ownership structure. In
fact, I consider as financialised a company whose ownership is no longer in the hands of industrial
corporation but in those of a financial institution.
I proceed by measuring the impact that the change in ownership structure has on the
wage share via a fixed-effects regression analysis, further enhanced by the inverse probability
weighting procedure.