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The Influence of Stock Market Listing on Human Resource Management: Evidence for France and Britain

  • Neil Conway
  • Simon Deakin
  • Suzanne Konzelmann
  • Héloïse Petit
  • Antoine Rebérioux
  • Frank Wilkinson

We use data from the "Relations Professionnelles et Négociations d'Entreprise" survey of 2004 and the "Workplace Employment Relations Survey" of 2004 to analyse how far approaches to human resource management differ according to whether an establishment is part of a company with a stock exchange listing. In both countries we find that listing is positively associated with teamworking and performance-related pay, while in France, but not in Britain, it is also linked to worker autonomy and training. Our findings are inconsistent with the claim that shareholder pressure operates as a constraint on the adoption of high-performance workplace practices. The pattern is similar in the two countries, but with a slightly stronger tendency for listing to be associated with high-performance workplace practices in France. Copyright (c) Blackwell Publishing Ltd/London School of Economics 2008.

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1467-8543.2008.00698.x
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Article provided by London School of Economics in its journal British Journal of Industrial Relations.

Volume (Year): 46 (2008)
Issue (Month): 4 (December)
Pages: 631-673

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Handle: RePEc:bla:brjirl:v:46:y:2008:i:4:p:631-673
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  3. Tiroley, Jean, 2000. "Corporate Governance," CEI Working Paper Series 2000-1, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
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  7. Suzanne Konzelmann & Neil Conway & Linda Trenberth & Frank Wilkinson, 2006. "Corporate Governance and Human Resource Management," British Journal of Industrial Relations, London School of Economics, vol. 44(3), pages 541-567, 09.
  8. Richard Belfield & Salima Benhamou & David Marsden, 2007. "Incentive Pay Systems and the Management of Human Resources in France and Great Britain," CEP Discussion Papers dp0796, Centre for Economic Performance, LSE.
  9. Fama, Eugene F, 1980. "Agency Problems and the Theory of the Firm," Journal of Political Economy, University of Chicago Press, vol. 88(2), pages 288-307, April.
  10. Jerome P. Reiter & Elaine L. Zanutto & Larry W. Hunter, 2005. "Analytical Modeling in Complex Surveys of Work Practices," ILR Review, Cornell University, ILR School, vol. 59(1), pages 82-100, October.
  11. Marco Becht & Julian Franks & Colin Mayer & Stefano Rossi, 2008. "Returns to Shareholder Activism," OFRC Working Papers Series 2008fe07, Oxford Financial Research Centre.
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