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Does Employee Ignorance Undermine Shared Capitalism?

  • John W. Budd

The potential of shared capitalism to improve individual and organizational performance through financial incentives depends on employees knowing about and participating in compensation plans that link rewards to performance. This paper therefore analyzes a survey of employees from multiple companies to assess the extent to which employees are ignorant about company, group, and individual-based incentive pay plans and ESOPs. The findings reveal significant amounts of employee ignorance in both under- and overstating the extent to which such plans apply to them individually.

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File URL: http://www.nber.org/papers/w14236.pdf
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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 14236.

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Date of creation: Aug 2008
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Publication status: published as Does Employee Ignorance Undermine Shared Capitalism? , John W. Budd. in Shared Capitalism at Work: Employee Ownership, Profit and Gain Sharing, and Broad-based Stock Options , Kruse, Freeman, and Blasi. 2010
Handle: RePEc:nbr:nberwo:14236
Note: LS
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  1. Mitchell, Olivia S, 1988. "Worker Knowledge of Pension Provisions," Journal of Labor Economics, University of Chicago Press, vol. 6(1), pages 21-39, January.
  2. 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.
  3. David Card & Richard Blundell & Richard B. Freeman, 2004. "Seeking a Premier Economy: The Economic Effects of British Economic Reforms, 1980-2000," NBER Books, National Bureau of Economic Research, Inc, number card04-1, May.
  4. Barry T. Hirsch & David A. MacPherson & J. Michael Dumond, 1997. "Workers' Compensation recipiency in union and nonunion workplaces," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 50(2), pages 213-236, January.
  5. Sewin Chan & Ann Huff Stevens, 2008. "What You Don't Know Can't Help You: Pension Knowledge and Retirement Decision-Making," The Review of Economics and Statistics, MIT Press, vol. 90(2), pages 253-266, May.
  6. John W. Budd, 2004. "Non-Wage Forms of Compensation," Journal of Labor Research, Transaction Publishers, vol. 25(4), pages 597-622, October.
  7. McCall, Brian P, 1995. "The Impact of Unemployment Insurance Benefit Levels on Recipiency," Journal of Business & Economic Statistics, American Statistical Association, vol. 13(2), pages 189-98, April.
  8. Budd, John W. & Mumford, Karen A., 2005. "Family-Friendly Work Practices in Britain: Availability and Perceived Accessibility," IZA Discussion Papers 1662, Institute for the Study of Labor (IZA).
  9. John W. Budd & Karen Mumford, 2004. "Trade Unions and Family-Friendly Policies in Britain," ILR Review, Cornell University, ILR School, vol. 57(2), pages 204-222, January.
  10. Richard B. Freeman & Joni Hersch & Lawrence Mishel, 2004. "Emerging Labor Market Institutions for the Twenty-First Century," NBER Books, National Bureau of Economic Research, Inc, number free04-1, May.
  11. John W. Budd & Brian McCall, 1997. "The effect of unions on the receipt of unemployment insurance benefits," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 50(3), pages 478-492, April.
  12. James T. Bennett & Bruce E. Kaufman, 2004. "What Do Unions Do?: A Twenty-Year Perspective," Journal of Labor Research, Transaction Publishers, vol. 25(3), pages 339-350, July.
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