Employee Ownership, Employee Attitudes, and Firm Performance
Douglas L. Kruse,Joseph R. Blasi +1 more
Reads0
Chats0
TLDR
In this article, the authors provide some meta-analyses on the accumulated evidence concerning the prevalence, causes and effects of employee ownership, covering 25 studies of employee attitudes and behaviors, and 27 studies of productivity and profitability (with both cross-sectional and pre/post comparisons).Abstract:
Employee ownership in U.S. companies has grown substantially in the past 20 years. This paper reviews and provides some meta-analyses on the accumulated evidence concerning the prevalence, causes, and effects of employee ownership, covering 25 studies of employee attitudes and behaviors, and 27 studies of productivity and profitability (with both cross-sectional and pre/post comparisons). Attitudinal and behavioral studies tend to find higher employee commitment among employee-owners but mixed results on satisfaction, motivation, and other measures. Perceived participation in decisions is not in itself automatically increased through employee ownership, but may interact positively with employee ownership in affecting attitudes. While few studies individually find clear links between employee ownership and firm performance, meta-analyses favor an overall positive association with performance for ESOPs and for several cooperative features. The dispersed results among attitudinal and performance studies indicate the importance of firm-level employee relations, human resource policies, and other circumstances.read more
Citations
More filters
Journal ArticleDOI
Enterprise Restructuring in Transition: A Quantitative Survey
TL;DR: The authors survey the empirical literature analyzing the process of enterprise restructuring in transition economies and provide new insights into the relative effectiveness of different reform policies, and into how this effectiveness varies across regions.
Journal ArticleDOI
Corporate governance in emerging markets: A survey
TL;DR: A review of recent research on corporate governance with a special focus on emerging markets is presented in this paper, where the authors find that better corporate governance benefit firms through greater access to financing, lower cost of capital, better performance, and more favorable treatment of all stakeholders.
Posted Content
Heuristics and Biases in Retirement Savings Behavior
TL;DR: In this article, the authors suggest that most effective ways to help participants are also the least costly interventions: namely, small changes in plan design, sensible default options and opportunities to increase savings rates and rebalance portfolios automatically.
Journal ArticleDOI
Firm-specific knowledge resources and competitive advantage: the roles of economic- and relationship-based employee governance mechanisms
TL;DR: In this article, the authors explore both economic and relationship-based governance mechanisms that might mitigate the underinvestment problem in knowledge resources and show that effective use of these governance mechanisms enables a firm to obtain greater performance from its efforts to deploy firm-specific knowledge resources.
Journal ArticleDOI
Ownership as a Form of Corporate Governance
Brian L. Connelly,Robert E. Hoskisson,Laszlo Tihanyi,Laszlo Tihanyi,Laszlo Tihanyi,Laszlo Tihanyi,Laszlo Tihanyi,Laszlo Tihanyi,S. Trevis Certo +8 more
TL;DR: In this article, the authors synthesize research from multiple disciplines on different types of owners and offer a unifying framework of governance through ownership, describing the motivations of various types of ownership, the tactics owners use to affect firms in which they are invested, and the dominant firm outcomes these owners seek to influence.
References
More filters
Journal ArticleDOI
Complementarities and fit strategy, structure, and organizational change in manufacturing
Paul Milgrom,John Roberts +1 more
TL;DR: The theories of supermodular optimization and games provide a framework for the analysis of systems marked by complementarity and are used to analyze the characteristic features of the Lincoln Electric Company's strategy and structure.
Posted Content
Theoretical and Empirical Studies of Producer Cooperatives: Will Ever the Twain Meet?
TL;DR: In this article, the authors are grateful to Avner Ben-Ner, Jacques Defourny, Saul Estrin, Felix FitzRoy, Barbara Lee, Bentley MacLeod, Egon Neuberger, Jeffrey Pliskin, Stephen C. Smith, and three anonymous referees for comments on various drafts of this paper.
Journal ArticleDOI
Worker participation and productivity in labor-managed and participatory capitalist firms: a meta-analysis
TL;DR: In this paper, the authors synthesize the results of 43 published studies to investigate the effects on productivity of various forms of worker participation: worker participation in decision making; mandated codetermination; profit sharing; worker ownership (employee stock ownership or individual worker ownership of the firm's assets); and collective ownership of assets.
Journal ArticleDOI
Cooperation, Productivity, and Profit Sharing
Felix R. FitzRoy,Kornelius Kraft +1 more
TL;DR: In this article, the authors find a strong influence of profit sharing on factor productivity in a sample of medium-sized metalworking capitalist firms in West Germany and find that profit sharing should motivate cooperation to increase productivity when work organization facilitates interaction and horizontal monitoring, since productive effort yields positive externalities to workers under contractual surplus sharing.
Posted Content
The Behavior of Worker Cooperatives: The Plywood Companies of the Pacific Northwest
Ben R. Craig,John Pencavel +1 more
TL;DR: In this paper, the authors used data collected by the authors on the largest and most durable of worker-owned firms in US manufacturing to investigate the responses of cooperatives to changes in their economic environment different from those of conventional firms.
Related Papers (5)
Shared capitalism at work : employee ownership, profit and gain sharing, and broad-based stock options
Employee Participation, Ownership, and Productivity: A Theoretical Framework
Avner Ben-Ner,Derek C. Jones +1 more