IDEAS home Printed from https://ideas.repec.org/p/cbr/cbrwps/wp366.html
   My bibliography  Save this paper

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

Author

Listed:
  • Neil Conway
  • Simon Deakin
  • Suzzanne J. Konzelmann
  • Héloïse Petit
  • Antoine Rebérioux
  • Frank Wilkinson

Abstract

We use data from REPONSE 2004 and WERS 2004 to analyse whether approaches to HRM 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.

Suggested Citation

  • Neil Conway & Simon Deakin & Suzzanne J. Konzelmann & Héloïse Petit & Antoine Rebérioux & Frank Wilkinson, 2008. "The Influence of Stock Market Listing on Human Resource Managment: Evidence for France and Britain," Working Papers wp366, Centre for Business Research, University of Cambridge.
  • Handle: RePEc:cbr:cbrwps:wp366
    Note: PRO-2
    as

    Download full text from publisher

    File URL: https://www.cbr.cam.ac.uk/fileadmin/user_upload/centre-for-business-research/downloads/working-papers/wp366.pdf
    Download Restriction: no

    Other versions of this item:

    References listed on IDEAS

    as
    1. Sanford M. Jacoby, 2005. "Business and Society in Japan and the United States," British Journal of Industrial Relations, London School of Economics, vol. 43(4), pages 617-634, December.
    2. Marco Becht & Julian Franks & Colin Mayer & Stefano Rossi, 2008. "Returns to Shareholder Activism," OFRC Working Papers Series 2008fe07, Oxford Financial Research Centre.
    3. Carlin, Wendy & Mayer, Colin, 2003. "Finance, investment, and growth," Journal of Financial Economics, Elsevier, vol. 69(1), pages 191-226, July.
    4. Belfield, Richard & Benhamou, Salima & Marsden, David, 2007. "Incentive pay systems and the management of human resources in France and Great Britain," LSE Research Online Documents on Economics 3628, London School of Economics and Political Science, LSE Library.
    5. Simon DEAKIN & Priya LELE & Mathias SIEMS, 2007. "The evolution of labour law: Calibrating and comparing regulatory regimes," International Labour Review, International Labour Organization, vol. 146(3-4), pages 133-162, September.
    6. repec:elg:eechap:1488_7 is not listed on IDEAS
    7. Shleifer, Andrei & Vishny, Robert W, 1997. " A Survey of Corporate Governance," Journal of Finance, American Finance Association, vol. 52(2), pages 737-783, June.
    8. Bruno Amable & Ekkehard Ernst & Stefano Palombarini, 2005. "How do financial markets affect industrial relations: an institutional complementarity approach," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00310484, HAL.
    9. Juan C. Botero & Simeon Djankov & Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer, 2004. "The Regulation of Labor," The Quarterly Journal of Economics, Oxford University Press, vol. 119(4), pages 1339-1382.
    10. repec:hrv:faseco:30728046 is not listed on IDEAS
    11. Priya P. Lele & Mathias M. Siems, 2009. "Shareholder Protection: A Leximetric Approach," Chapters,in: Corporate Governance and Development, chapter 10 Edward Elgar Publishing.
    12. Corinne Perraudin & Héloïse Petit & Antoine Rebérioux, 2008. "The Stock Market and Human Resource Management: Evidence from a Survey of French Establishments," Recherches économiques de Louvain, De Boeck Université, vol. 74(4), pages 541-581.
    13. Froud, Julie, et al, 2000. "Restructuring for Shareholder Value and Its Implications for Labour," Cambridge Journal of Economics, Oxford University Press, vol. 24(6), pages 771-797, November.
    14. repec:sae:ilrrev:v:54:y:2001:i:2a:p:525-543 is not listed on IDEAS
    15. Tirole, Jean, 2001. "Corporate Governance," Econometrica, Econometric Society, vol. 69(1), pages 1-35, January.
    16. Henry Hansmann & Reinier Kraakman, 2000. "The End Of History For Corporate Law," Yale School of Management Working Papers ysm136, Yale School of Management, revised 01 Feb 2001.
    17. Thomas Bailey & Peter Berg & Carola Sandy, 2001. "The Effect of High-Performance Work Practices on Employee Earnings in the Steel, Apparel, and Medical Electronics and Imaging Industries," ILR Review, Cornell University, ILR School, vol. 54(2), pages 525-543, January.
    18. 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.
    19. John Armour & Simon Deakin & Suzanne J. Konzelmann, 2003. "Shareholder Primacy and the Trajectory of UK Corporate Governance," British Journal of Industrial Relations, London School of Economics, vol. 41(3), pages 531-555, September.
    20. John Armour & Simon Deakin & Suzanne J. Konzelmann, 2003. "Shareholder Primacy and the Trajectory of UK Corporate Governance," Working Papers wp266, Centre for Business Research, University of Cambridge.
    21. 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, September.
    22. Jean Tirole, 2006. "The Theory of Corporate Finance," Post-Print hal-00173191, HAL.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Corinne Perraudin & Héloïse Petit, & Antoine Rebérioux, 2013. "Worker Information and Firm Disclosure Analysis on French Linked Employer–Employee Data," Industrial Relations: A Journal of Economy and Society, Wiley Blackwell, vol. 52(1), pages 134-161, January.
    2. repec:kap:jbuset:v:146:y:2017:i:3:d:10.1007_s10551-015-2937-1 is not listed on IDEAS
    3. Michel Aglietta & Antoine Rebérioux, 2012. "Financialisation and the Firm," Chapters,in: Handbook on the Economics and Theory of the Firm, chapter 23 Edward Elgar Publishing.
    4. Labadi, Moufida & Nekhili, Mehdi, 2012. "Structure de propriété et partage de la valeur ajoutée : application aux entreprises françaises non financières du SBF120," Revue de la Régulation - Capitalisme, institutions, pouvoirs, Association Recherche et Régulation, vol. 12.

    More about this item

    Keywords

    corporate governance; human resource management; employment relations;

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law
    • K31 - Law and Economics - - Other Substantive Areas of Law - - - Labor Law
    • J53 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Labor-Management Relations; Industrial Jurisprudence
    • J88 - Labor and Demographic Economics - - Labor Standards - - - Public Policy

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cbr:cbrwps:wp366. See general 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: (Ruth Newman and Georgie Cohen). General contact details of provider: http://www.cbr.cam.ac.uk .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.