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Theory O-Is the Case Closed?

Author

Listed:
  • Gorm Winther

    (Aalborg University, Denmark)

Abstract

Using survey data from employee ownership firms, the author examines employees' perceptions of being employee-owners. It appears that the employees do not really consider themselves to be employee-owners, and they do not see their status in the hierarchy change. These findings are implicitly distinct from recent research on employee stock ownership plans (ESOPs). ESOP researchers have debated whether employee ownership combined with participatory decision-making is an important explanatory variable for the comparative performance variance. Moreover, a new theory 0, beyond McGregor's and Ouchi's theory Y and Z has recently been introduced by Corey Rosen and Karen Young, stressing this complementary effect. The author elaborates further on the theory and defines the 0-type firm as an organization characterized by non-discriminatory inclusion in ownership and decision-making. Operationalizing this by distributional analysis may enhance the precision of empirical research on particular performance effects due to an 0-type management philosophy.

Suggested Citation

  • Gorm Winther, 1999. "Theory O-Is the Case Closed?," Economic and Industrial Democracy, Department of Economic History, Uppsala University, Sweden, vol. 20(2), pages 269-293, May.
    • Handle: RePEc:sae:ecoind:v:20:y:1999:i:2:p:269-293
    DOI: 10.1177/0143831X99202006
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    References listed on IDEAS

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    1. Jensen, Michael C & Meckling, William H, 1979. "Rights and Production Functions: An Application to Labor-managed Firms and Codetermination," The Journal of Business, University of Chicago Press, vol. 52(4), pages 469-506, October.
    2. Conte, Michael A. & Svejnar, Jan, 1988. "Productivity effects of worker participation in management, profit-sharing, worker ownership of assets and unionization in U.S. firms," International Journal of Industrial Organization, Elsevier, vol. 6(1), pages 139-151, March.
    3. Jensen, Michael C. & Meckling, William H., 2008. "Theory of the firm: managerial behavior, agency costs and ownership structure," RAE - Revista de Administração de Empresas, FGV-EAESP Escola de Administração de Empresas de São Paulo (Brazil), vol. 48(2), April.
    4. Ouchi, William, 1981. "Theory Z: How American business can meet the Japanese challenge," Business Horizons, Elsevier, vol. 24(6), pages 82-83.
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    Cited by:

    1. Brent Kramer, 2010. "Employee ownership and participation effects on outcomes in firms majority employee-owned through employee stock ownership plans in the US1," Economic and Industrial Democracy, Department of Economic History, Uppsala University, Sweden, vol. 31(4), pages 449-476, November.

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