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The Effects of Profit-Sharing on Employment, Wages, Stock Returns and Productivity: Evidence from UK Micro-data

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  • Wadhwani, Sushil
  • Wall, Martin

Abstract

This paper provides evidence based on U.K. firm-level data that: (1) the authors cannot reject the view that profit-sharing firms view the total level of remuneration as the marginal cost of labor, which is contrary to much of Weitzman's analysis; (2) there is some support for the popular view that profit sharing raises total remuneration and can, therefore, be inflationary; and (3) the introduction of profit sharing does lead to higher productivity, but, this combined with the employment-reducing consequences of (2) leads the authors to conclude that the net employment effect is small and uncertain. Copyright 1990 by Royal Economic Society.

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Bibliographic Info

Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 100 (1990)
Issue (Month): 399 (March)
Pages: 1-17

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Handle: RePEc:ecj:econjl:v:100:y:1990:i:399:p:1-17

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