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The Influence of Stock Market Listing on Human Resource Managment: Evidence for France and Britain

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Author Info
Neil Conway
Simon Deakin
Suzzanne J. Konzelmann
Héloïse Petit
Antoine Rebérioux
Frank Wilkinson
Abstract

We use data from REPONSE 2004 and WERS 2004 to analyse whether approaches to HRM differ according to whether an establishment is part of a company with a stock exchange listing. In both countries we find that listing is positively associated with teamworking and performance-related pay, while in France, but not in Britain, it is also linked to worker autonomy and training. Our findings are inconsistent with the claim that shareholder pressure operates as a constraint on the adoption of high-performance workplace practices. The pattern is similar in the two countries, but with a slightly stronger tendency for listing to be associated with high-performance workplace practices in France.

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Paper provided by ESRC Centre for Business Research in its series ESRC Centre for Business Research - Working Papers with number wp366.

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Date of creation: Jun 2008
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Handle: RePEc:cbr:cbrwps:wp366

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Related research
Keywords: corporate governance; human resource management; employment relations;

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Find related papers by JEL classification:
G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Capital and Ownership Structure
G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
K22 - Law and Economics - - Regulation and Business Law - - - Corporation and Securities Law
K31 - Law and Economics - - Other Substantive Areas of Law - - - Labor Law
J53 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Labor-Management Relations; Industrial Jurisprudence
J88 - Labor and Demographic Economics - - Labor Standards - - - Public Policy

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Jerome P. Reiter & Elaine L. Zanutto & Larry W. Hunter, 2005. "Analytical modeling in complex surveys of work practices," Industrial and Labor Relations Review, ILR Review, ILR School, Cornell University, vol. 59(1), pages 82-100, October. [Downloadable!] (restricted)
  2. Simon Deakin & Priya Lele & Mathias Siems, 2007. "The Evolution of Labour Law: Calibrating and Comparing Regulatory Regimes," ESRC Centre for Business Research - Working Papers wp352, ESRC Centre for Business Research. [Downloadable!]
  3. Tirole, Jean, 2001. "Corporate Governance," Econometrica, Econometric Society, vol. 69(1), pages 1-35, January.
    Other versions:
  4. Wright, Mike & Renneboog, L.D.R. & Simons, Tomas & Scholes, Louise, 2006. "Leveraged buyouts in the U.K. and continental Europe : retrospect and prospect," Discussion Paper 70, Tilburg University, Center for Economic Research. [Downloadable!]
    Other versions:
  5. Fama, Eugene F, 1980. "Agency Problems and the Theory of the Firm," Journal of Political Economy, University of Chicago Press, vol. 88(2), pages 288-307, April. [Downloadable!] (restricted)
  6. Suzanne Konzelmann & Neil Conway & Linda Trenberth & Frank Wilkinson, 2006. "Corporate Governance and Human Resource Management," British Journal of Industrial Relations, Blackwell Publishers Ltd/London School of Economics, vol. 44(3), pages 541-567, 09. [Downloadable!] (restricted)
  7. Carlin, Wendy & Mayer, Colin, 2003. "Finance, investment, and growth," Journal of Financial Economics, Elsevier, vol. 69(1), pages 191-226, July. [Downloadable!] (restricted)
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  8. Shleifer, Andrei & Vishny, Robert W, 1997. " A Survey of Corporate Governance," Journal of Finance, American Finance Association, vol. 52(2), pages 737-83, June. [Downloadable!] (restricted)
    Other versions:
  9. Priya P. Lele & Mathias M. Siems, 2007. "Shareholder Protection: A Leximetric Approach," Money Macro and Finance (MMF) Research Group Conference 2006 170, Money Macro and Finance Research Group. [Downloadable!]
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  10. Marco Becht & Julian Franks & Colin Mayer & Stefano Rossi, 2008. "Returns to Shareholder Activism," OFRC Working Papers Series 2008fe07, Oxford Financial Research Centre. [Downloadable!]
  11. Thomas Bailey & Peter Berg & Carola Sandy, 2001. "The Effect of high-performance work practices on employee earnings in the steel, apparel, and medical electronics and imaging industries," Industrial and Labor Relations Review, ILR Review, ILR School, Cornell University, vol. 54(2), pages 525-543, March.
  12. Juan Botero & Simeon Djankov & Rafael Porta & Florencio C. Lopez-De-Silanes, 2004. "The Regulation of Labor," The Quarterly Journal of Economics, MIT Press, vol. 119(4), pages 1339-1382, November. [Downloadable!] (restricted)
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    • Simeon Djankov & Rafael La Porta & Florencio Lopez-de-Silane & Andrei Shleifer & Juan Botero, 2003. "The Regulation of Labor," NBER Working Papers 9756, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  13. John Armour & Simon Deakin & Suzanne J. Konzelmann, 2003. "Shareholder Primacy and the Trajectory of UK Corporate Governance," British Journal of Industrial Relations, Blackwell Publishers Ltd/London School of Economics, vol. 41(3), pages 531-555, 09. [Downloadable!] (restricted)
  14. John Armour & Simon Deakin & Suzanne J. Konzelmann, 2003. "Shareholder Primacy and the Trajectory of UK Corporate Governance," ESRC Centre for Business Research - Working Papers wp266, ESRC Centre for Business Research. [Downloadable!]
  15. Richard Belfield & Salima Benhamou & David Marsden, 2007. "Incentive Pay Systems and the Management of Human Resources in France and Great Britain," CEP Discussion Papers dp0796, Centre for Economic Performance, LSE. [Downloadable!]
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