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

  • Neil Conway
  • Simon Deakin
  • Suzzanne J. Konzelmann
  • Héloïse Petit
  • Antoine Rebérioux
  • Frank Wilkinson
Registered author(s):

    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.

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    Paper provided by ESRC Centre for Business Research in its series ESRC Centre for Business Research - Working Papers with number wp366.

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    Date of creation: Jun 2008
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    Handle: RePEc:cbr:cbrwps:wp366
    Note: PRO-2
    Contact details of provider: Web page: http://www.cbr.cam.ac.uk/

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    1. Marco Becht & Julian Franks & Colin Mayer & Stefano Rossi, 2008. "Returns to Shareholder Activism," OFRC Working Papers Series 2008fe07, Oxford Financial Research Centre.
    2. Carlin, Wendy & Mayer, Colin, 2003. "Finance, investment, and growth," Journal of Financial Economics, Elsevier, vol. 69(1), pages 191-226, July.
    3. 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.
    4. Mathias Siems & Priya Lele, 2006. "Shareholder Protection: A Leximetric Approach," ESRC Centre for Business Research - Working Papers wp324, ESRC Centre for Business Research.
    5. Simeon Djankov & Rafael La Porta & Florencio Lopez-de-Silane & Andrei Shleifer & Juan Botero, 2003. "The Regulation of Labor," NBER Working Papers 9756, National Bureau of Economic Research, Inc.
    6. 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.
    7. 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.
    8. Tirole, Jean, 1999. "Corporate Governance," CEPR Discussion Papers 2086, C.E.P.R. Discussion Papers.
    9. Andrei Shleifer & Robert W. Vishny, 1995. "A Survey of Corporate Governance," Harvard Institute of Economic Research Working Papers 1741, Harvard - Institute of Economic Research.
    10. repec:cup:cbooks:9780521032032 is not listed on IDEAS
    11. Jerome P. Reiter & Elaine L. Zanutto & Larry W. Hunter, 2005. "Analytical modeling in complex surveys of work practices," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 59(1), pages 82-100, October.
    12. 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, 09.
    13. John Armour & Simon Deakin & Suzanne J. Konzelmann, 2003. "Shareholder Primacy and the Trajectory of UK Corporate Governance," ESRC Centre for Business Research - Working Papers wp266, ESRC Centre for Business Research.
    14. 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, 09.
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