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Does Employee Ignorance Undermine Shared Capitalism?

In: Shared Capitalism at Work: Employee Ownership, Profit and Gain Sharing, and Broad-based Stock Options

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  • John W. Budd

Abstract

The potential of shared capitalism to improve individual and organizational performance through financial incentives depends on employees knowing about and participating in compensation plans that link rewards to performance. This paper therefore analyzes a survey of employees from multiple companies to assess the extent to which employees are ignorant about company, group, and individual-based incentive pay plans and ESOPs. The findings reveal significant amounts of employee ignorance in both under- and overstating the extent to which such plans apply to them individually.

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This chapter was published in:

  • Douglas L. Kruse & Richard B. Freeman & Joseph R. Blasi, 2010. "Shared Capitalism at Work: Employee Ownership, Profit and Gain Sharing, and Broad-based Stock Options," NBER Books, National Bureau of Economic Research, Inc, number krus08-1.
    This item is provided by National Bureau of Economic Research, Inc in its series NBER Chapters with number 8094.

    Handle: RePEc:nbr:nberch:8094

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    1. Sewin Chan & Ann Huff Stevens, 2003. "What You Don't Know Can't Help You: Pension Knowledge and Retirement Decision Making," NBER Working Papers 10185, National Bureau of Economic Research, Inc.
    2. Richard B. Freeman & Joni Hersch & Lawrence Mishel, 2004. "Emerging Labor Market Institutions for the Twenty-First Century," NBER Books, National Bureau of Economic Research, Inc, number free04-1.
    3. John W Budd & Karen Mumford, . "Trade Unions and Family-Friendly Policies in Britian," Discussion Papers 01/14, Department of Economics, University of York.
    4. Budd, J.W. & McCall, B.P., 1994. "The Effect of Unions on the Receipt of Unemployment Insurance Benefits," Papers 94-08, Minnesota - Industrial Relations Center.
    5. Mitchell, Olivia S, 1988. "Worker Knowledge of Pension Provisions," Journal of Labor Economics, University of Chicago Press, vol. 6(1), pages 21-39, January.
    6. John W. Budd, 2004. "Non-Wage Forms of Compensation," Journal of Labor Research, Transaction Publishers, vol. 25(4), pages 597-622, October.
    7. James T. Bennett & Bruce E. Kaufman, 2004. "What Do Unions Do?: A Twenty-Year Perspective," Journal of Labor Research, Transaction Publishers, vol. 25(3), pages 339-350, July.
    8. David Card & Richard Blundell & Richard B. Freeman, 2004. "Seeking a Premier Economy: The Economic Effects of British Economic Reforms, 1980-2000," NBER Books, National Bureau of Economic Research, Inc, number card04-1.
    9. Martin J. Conyon & Richard B. Freeman, 2001. "Shared Modes of Compensation and Firm Performance: UK Evidence," NBER Working Papers 8448, National Bureau of Economic Research, Inc.
    10. Budd, John W. & Mumford, Karen A., 2005. "Family-Friendly Work Practices in Britain: Availability and Perceived Accessibility," IZA Discussion Papers 1662, Institute for the Study of Labor (IZA).
    11. McCall, Brian P, 1995. "The Impact of Unemployment Insurance Benefit Levels on Recipiency," Journal of Business & Economic Statistics, American Statistical Association, vol. 13(2), pages 189-98, April.
    12. Barry T. Hirsch & David A. MacPherson & J. Michael Dumond, 1997. "Workers' Compensation recipiency in union and nonunion workplaces," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 50(2), pages 213-236, January.
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    Cited by:
    1. Alex Bryson & Richard Freeman, 2010. "To Join or Not to Join? Factors Influencing Employee Share Plan Membership in a Multinational Corporation," CEP Discussion Papers dp1001, Centre for Economic Performance, LSE.
    2. Joseph R. Blasi & Richard B. Freeman & Chris Mackin & Douglas L. Kruse, 2008. "Creating a Bigger Pie? The Effects of Employee Ownership, Profit Sharing, and Stock Options on Workplace Performance," NBER Working Papers 14230, National Bureau of Economic Research, Inc.
    3. Douglas L. Kruse & Joseph R. Blasi & Rhokeun Park, 2008. "Shared Capitalism in the U.S. Economy? Prevalence, Characteristics, and Employee Views of Financial Participation in Enterprises," NBER Working Papers 14225, National Bureau of Economic Research, Inc.

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