Wages, Employment, and Capital in Capitalist and Worker-Owned Firms
AbstractDifferences in wages, employment, and capital between worker-owned and capitalist enterprises are computed from a matched employer-worker panel data set from Italy, the market economy with the greatest incidence of worker-owned and worker-managed firms. These differences are related to orthodox models of the capitalist firm and worker co-op. The estimates of the wage, employment, and capital equations largely corroborate the implications of the behavioral models of the two types of enterprise. Co-op wages are about 14 percent lower on average and they are more volatile (and employment less volatile) than those in capitalist enterprises. Given the breadth of the data set analyzed, the results can claim to constitute general findings about capitalist and co-op enterprises.
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Bibliographic InfoPaper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 2188.
Length: 46 pages
Date of creation: Jun 2006
Date of revision:
Publication status: published in: Industrial and Labor Relations Review, 2006, 60 (1), 23-44
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Other versions of this item:
- John Pencavel & Luigi Pistaferri & Fabiano Schivardi, 2006. "Wages, employment, and capital in capitalist and worker-owned firms," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 60(1), pages 23-44, October.
- J54 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Producer Cooperatives; Labor Managed Firms
- D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
- L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-07-15 (All new papers)
- NEP-ENT-2006-07-15 (Entrepreneurship)
- NEP-LAB-2006-07-29 (Labour Economics)
- NEP-LTV-2006-07-26 (Unemployment, Inequality & Poverty)
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