The Effects Of Profit-Sharing On Employment, Wages, Stock Returns And Productivity: Evidence From Uk Micro-Data
AbstractThis paper provides evidence based on U.K. firm-level data that: (1) the authors cannot reject the view that profit-sharing firms view the total level of remuneration as the marginal cost of labor, which is contrary to much of Weitzman's analysis; (2) there is some support for the popular view that profit sharing raises total remuneration and can, therefore, be inflationary; and (3) the introduction of profit sharing does lead to higher productivity, but, this combined with the employment-reducing consequences of (2) leads the authors to conclude that the net employment effect is small and uncertain. Copyright 1990 by Royal Economic Society.
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Bibliographic InfoPaper provided by London School of Economics - Centre for Labour Economics in its series Papers with number 311.
Length: 39 pages
Date of creation: 1988
Date of revision:
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Postal: LONDON SCHOOL OF ECONOMICS AND POLITICAL SCIENCE, CENTER FOR LABOUR ECONOMICS, HOUGHTON STREET LONDON WC2A 2AE ENGLAND.
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Web page: http://www.lse.ac.uk/
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profit sharing ; wages ; employment ; productivity;
Other versions of this item:
- Wadhwani, Sushil & Wall, Martin, 1990. "The Effects of Profit-Sharing on Employment, Wages, Stock Returns and Productivity: Evidence from UK Micro-data," Economic Journal, Royal Economic Society, vol. 100(399), pages 1-17, March.
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