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Shared Modes of Compensation and Firm Performance: UK Evidence

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Author Info
Martin J. Conyon
Richard Freeman

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Abstract

This paper examines the use and consequences of shared compensation plans (profit sharing, profit related pay, SAYE schemes and company stock option plans) in a sample of UK workplaces and firms in the 1990s. The use of these plans has increased over time, in part in response to government programs. The evidence shows that companies and workplaces adopting shared compensation practices have had higher productivity than other firms, but the effects vary among programs, suggesting that the particulars matter a lot in aligning shared compensation and work place activities. Consistent with incentive theory, the evidence also shows that firms and workplaces with shared compensation practices have a higher incidence of shared decision-making/information sharing practices.

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Paper provided by Centre for Economic Performance, LSE in its series CEP Discussion Papers with number 0560.

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Date of creation: Oct 2002
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Handle: RePEc:cep:cepdps:0560

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  1. Cable, John & Wilson, Nicholas, 1989. "Profit-Sharing and Productivity: An Analysis of UK Engineering Firms," Economic Journal, Royal Economic Society, vol. 99(396), pages 366-75, June. [Downloadable!] (restricted)
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  1. Wolf, Elke & Zwick, Thomas, 2002. "Reassessing the Impact of High Performance Workplaces," ZEW Discussion Papers 02-07, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research. [Downloadable!]
  2. David Card & Richard B. Freeman, 2002. "What Have Two Decades of British Economic Reform Delivered?," NBER Working Papers 8801, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  3. Joseph Blasi & Robert Buchele & Richard Freeman & Douglas Kruse & Chris Mackin & Loren Rodgers & Adria Scharf, 2004. "Motivating Employee Owners in ESOP Firms: Human Resource Policies and Company Performance," CEP Discussion Papers dp0658, Centre for Economic Performance, LSE. [Downloadable!]
    Other versions:
  4. Addison, John T. & Belfield, Clive R., 2002. "Unions and Employment Growth: The One Constant?," IZA Discussion Papers 479, Institute for the Study of Labor (IZA). [Downloadable!]
  5. Addison, John T. & Siebert, W. Stanley, 2002. "Changes in Collective Bargaining in the U.K," IZA Discussion Papers 562, Institute for the Study of Labor (IZA). [Downloadable!]
  6. Addison, John T. & Belfield, Clive R., 2002. "Unions and Establishment Performance: Evidence from the British Workplace Industrial/Employee Relations Surveys," IZA Discussion Papers 455, Institute for the Study of Labor (IZA). [Downloadable!]
  7. Derek C. Jones & Panu Kalmi & Mikko Mäkinen, 2006. "The Productivity Effects of Stock Option Schemes: Evidence from Finnish Panel Data," Discussion Papers 1026, The Research Institute of the Finnish Economy. [Downloadable!]
  8. Melvyn Coles & B Petrongolo, 2003. "A Test Between Unemployment Theories Using Matching Data," CEP Discussion Papers dp0570, Centre for Economic Performance, LSE. [Downloadable!]
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  9. Koskela, Erkki & König, Jan, 2008. "Strategic Outsourcing, Profit Sharing and Equilibrium Unemployment," IZA Discussion Papers 3413, Institute for the Study of Labor (IZA). [Downloadable!]
  10. Koskela, Erkki & Stenbacka, Rune, 2004. "Profit Sharing, Credit Market Imperfections and Equilibrium Unemployment," IZA Discussion Papers 1020, Institute for the Study of Labor (IZA). [Downloadable!]
  11. Mikko Mäkinen, 2007. "Do Stock Opiton Schemes Affect Technical Inefficiency? Evidence from Finland," Discussion Papers 1085, The Research Institute of the Finnish Economy. [Downloadable!]
  12. Erkki Koskela & Rune Stenbacka, 2005. "Product Market Competition, Profit Sharing and Equilibrium Unemployment," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
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