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.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
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
Contact details of provider:
Postal: IZA, P.O. Box 7240, D-53072 Bonn, Germany
Phone: +49 228 3894 223
Fax: +49 228 3894 180
Web page: http://www.iza.org
Postal: IZA, Margard Ody, P.O. Box 7240, D-53072 Bonn, Germany
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-2006-07-15 (Labour Economics)
- NEP-LTV-2006-07-15 (Unemployment, Inequality & Poverty)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Smith, Stephen C., 1994. "Innovation and market strategy in Italian industrial cooperatives: Econometric evidence on organizational comparative advantage," Journal of Economic Behavior & Organization, Elsevier, vol. 23(3), pages 303-320, May.
- Federico Cingano & Fabiano Schivardi, 2003.
"Identifying the Sources of Local Productivity Growth,"
Temi di discussione (Economic working papers)
474, Bank of Italy, Economic Research and International Relations Area.
- Federico Cingano & Fabiano Schivardi, 2004. "Identifying the Sources of Local Productivity Growth," Journal of the European Economic Association, MIT Press, vol. 2(4), pages 720-742, 06.
- Jones, Derek C & Svejnar, Jan, 1985.
"Participation, Profit Sharing, Worker Ownership and Efficiency in Italian Producer Cooperative,"
London School of Economics and Political Science, vol. 52(208), pages 449-65, November.
- JONES, Derek C. & SVEJNAR, Jan, . "Participation, profit sharing, worker ownership and efficiency in Italian producer cooperatives," CORE Discussion Papers RP -681, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Jones, D.C. & Svejnar, J., 1984. "Participation, profit sharing, worker ownership and efficieny in Italian producer cooperatives," CORE Discussion Papers 1984019, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Guiso, Luigi & Pistaferri, Luigi & Schivardi, Fabiano, 2001.
"Insurance Within the Firm,"
CEPR Discussion Papers
2793, C.E.P.R. Discussion Papers.
- Luigi Guiso & Luigi Pistaferri & Fabiano Schivardi, 2001. "Insurance within the Firm," Temi di discussione (Economic working papers) 414, Bank of Italy, Economic Research and International Relations Area.
- Luigi Guiso & Luigi Pistaferri & Fabiano Schivardi, 2002. "Insurance within the firm," 10th International Conference on Panel Data, Berlin, July 5-6, 2002 C3-1, International Conferences on Panel Data.
- Pencavel, John & Craig, Ben, 1994. "The Empirical Performance of Orthodox Models of the Firm: Conventional Firms and Worker Cooperatives," Journal of Political Economy, University of Chicago Press, vol. 102(4), pages 718-44, August.
- Will Bartlett & Saul Estrin & John Cable & Stephen Smith, 1992. "Labor-managed cooperatives and private firms in north central Italy: An empirical comparison," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 46(1), pages 103-118, October.
This item has more than 25 citations. To prevent cluttering this page, these citations are listed on a separate page. reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Mark Fallak).
If references are entirely missing, you can add them using this form.