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Do Workers Gain by Sharing? Employee Outcomes under Employee Ownership, Profit Sharing, and Broad-based Stock Options

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Author Info
Douglas Kruse
Richard Freeman
Joseph Blasi

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Abstract

This paper examines how shared capitalism compensation systems - those that link employee pay to company performance - affect diverse employee outcomes. It uses two data sets: the national GSS survey that provides a broad representative view of the extent of the programs; and the NBER Shared Capitalism Project surveys of workers in 14 companies that use shared capitalism programs extensively. We find that greater involvement in the programs is generally linked to greater participation in decisions, higher quality supervision and treatment of employees, more training, higher pay and benefits, greater job security, and higher job satisfaction. We also find positive interactions of shared capitalism with high-performance policies in predicting participation in decisions and overall job satisfaction, and negative interactions of shared capitalism with close supervision in affecting almost all of the outcomes. Overall the results support the idea that workers can gain by sharing, but whether this happens is contingent on other workplace policies.

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Publisher Info
Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 14233.

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Date of creation: Aug 2008
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Handle: RePEc:nbr:nberwo:14233

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Find related papers by JEL classification:
J33 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Compensation Packages; Payment Methods
J54 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Producer Cooperatives; Labor Managed Firms
L23 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Organization of Production

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References listed on IDEAS
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.:
  1. Akerlof, George A, 1982. "Labor Contracts as Partial Gift Exchange," The Quarterly Journal of Economics, MIT Press, vol. 97(4), pages 543-69, November. [Downloadable!] (restricted)
  2. John S. Heywood & Uwe Jirjahn & Georgi Tsertsvadze, 2005. "Getting along with Colleagues - Does Profit Sharing Help or Hurt?," Kyklos, Blackwell Publishing, vol. 58(4), pages 557-573, November. [Downloadable!] (restricted)
  3. Sarah Brown & John G. Sessions, 2003. "Attitudes, Expectations and Sharing," LABOUR, CEIS, Fondazione Giacomo Brodolini and Blackwell Publishing Ltd, vol. 17(4), pages 543-569, December. [Downloadable!] (restricted)
  4. Michael J. Handel & Maury Gittleman, 2000. "Is there a Wage Payoff to Innovative Work Practices?," Macroeconomics 0004032, EconWPA. [Downloadable!]
    Other versions:
  5. David K. Levine & Aldo Rustichini, 2000. "Introduction," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 3(2), pages 213-215, April. [Downloadable!] (restricted)
  6. Sandra E. Black & Lisa M. Lynch & Anya Krivelyova, 2003. "How workers fare when employers innovate," Working Papers in Applied Economic Theory 2003-22, Federal Reserve Bank of San Francisco. [Downloadable!]
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  7. Omar Azfar & Stephan Danninger, 2001. "Profit sharing, employment stability, and wage growth," Industrial and Labor Relations Review, ILR Review, ILR School, Cornell University, vol. 54(3), pages 619-630, April.
  8. Martin J. Conyon & Richard B. Freeman, 2001. "Shared Modes of Compensation and Firm Performance: UK Evidence," NBER Working Papers 8448, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  9. Nicholas Wilson & Michael J. Peel, 1991. "The impact on absenteeism and quits of profit-sharing and other forms of employee participation," Industrial and Labor Relations Review, ILR Review, ILR School, Cornell University, vol. 44(3), pages 454-468, April.
  10. Andrew M. Robinson & Hao Zhang, 2005. "Employee Share Ownership: Safeguarding Investments in Human Capital," British Journal of Industrial Relations, Blackwell Publishers Ltd/London School of Economics, vol. 43(3), pages 469-488, 09. [Downloadable!] (restricted)
  11. Craig, Ben & Pencavel, John, 1992. "The Behavior of Worker Cooperatives: The Plywood Companies of the Pacific Northwest," American Economic Review, American Economic Association, vol. 82(5), pages 1083-105, December. [Downloadable!] (restricted)
  12. Rooney, Patrick Michael, 1992. "Employee ownership and worker participation : Effects on health and safety," Economics Letters, Elsevier, vol. 39(3), pages 323-328, July. [Downloadable!] (restricted)
  13. Saul Estrin & Derek C. Jones, 1992. "The viability of employee-owned firms: Evidence from France," Industrial and Labor Relations Review, ILR Review, ILR School, Cornell University, vol. 45(2), pages 323-338, January.
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Cited by:
(explanations, 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.)

  1. Robert Buchele & Douglas Kruse & Loren Rodgers & Adria Scharf, 2009. "Show Me the Money: Does Shared Capitalism Share the Wealth?," NBER Working Papers 14830, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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