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Shared Modes of Compensation and Firm Performance: UK Evidence

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  • Martin J. Conyon
  • Richard Freeman

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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File URL: http://cep.lse.ac.uk/pubs/download/dp0560.pdf
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Bibliographic Info

Paper provided by Centre for Economic Performance, LSE in its series CEP Discussion Papers with number dp0560.

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Date of creation: Oct 2002
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Handle: RePEc:cep:cepdps:dp0560

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

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  1. Douglas L. Kruse, 1993. "Profit Sharing: Does It Make a Difference?," Books from Upjohn Press, W.E. Upjohn Institute for Employment Research, number ps.
  2. Stephen Nickell & Stephen Redding & Joanna Swaffield, 2002. "Educational Attainment, Labour Market Institutions, and the Structure of Production," CEP Discussion Papers dp0545, Centre for Economic Performance, LSE.
  3. 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.
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