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The Determinants of Investment in Employee Owned Firms: Evidence from France

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Author Info

  • S Estrin
  • D Jones

Abstract

In this paper we use a large panel data set to test competing hypotheses about investment in employee owned firms (EOFs), especially the view that EOFs will invest less. Most of the variables stressed by labour-management theorists as inhibiting investment are found not to play any role in practice, but the volume of investment is found to be positively associated with the share of investment funded externally. This highlights the crucial role of external finance in supporting investments in EOFs.

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Bibliographic Info

Paper provided by Centre for Economic Performance, LSE in its series CEP Discussion Papers with number dp0087.

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Date of creation: Jul 1992
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Handle: RePEc:cep:cepdps:dp0087

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Web page: http://cep.lse.ac.uk/_new/publications/series.asp?prog=CEP

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Cited by:
  1. Kazuhiro Ohnishi, 2009. "Strategic Commitment and Three-Stage Games with Labour-Managed and Profit-Maximizing Firms," Finnish Economic Papers, Finnish Economic Association, Finnish Economic Association, vol. 22(2), pages 63-74, Autumn.
  2. Derek C. Jones & Takao Kato & Jeffrey Pliskin, 1999. "Profit Sharing and Gainsharing: A Review of Theory, Incidence, and Effects," Macroeconomics, EconWPA 9903010, EconWPA.
  3. Francesca Gagliardi, 2009. "Financial development and the growth of cooperative firms," Small Business Economics, Springer, Springer, vol. 32(4), pages 439-464, April.

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