This study investigates how the effect of employee stock ownership on financial performance may hinge on the diverse cultural and societal contexts of European countries. Based on agency and national culture theories, we hypothesize that the positive relationship between employee stock ownership and return on assets (ROA) is stronger in those nations with lower uncertainty … Read More
Designed for undergraduate students, Democratic Enterprise provides an open access, introductory-level analysis of democratic models of enterprise, namely co-operatives and employee-owned businesses.
The European Federation of Employee Share Ownership (EFES) acts as the umbrella organization of employee owners, companies and all persons, trade unions, experts, researchers, institutions looking to promote employee ownership and participation in Europe.
Bertelsmann’s EVP HR Immanuel Hermreck and his team were focused on four key HR issues. Three of these were somewhat discreet: improving Bertelsmann’s employer brand; managing Bertelsmann talent across the firm’s decentralized businesses; and ensuring early identification and appropriate development of Bertelsmann’s top 100 high potential managers (hi-pos) to better seed the company’s future top management. The fourth issue-recruitment and retention-played an integral role across all three challenges and had to be strengthened and made consistent across the firm, not an easy prospect given Bertelsmann’s highly decentralized structure.
Based on ten case studies, the report explains what motivated a highly diverse mix of businesses to consider employee ownership as a succession or start up route.
‘Making employee ownership work’ is a new guide from the Employee Ownership Association and co-ownership advisers the Baxi Partnership, based on a survey of 25 EOA member companies including John Lewis, Unipart, Arup and Mott MacDonald.
I view corporate governance as a process of designing and implementing various implicit and explicit contracts among capital providers, corporate managers, workers, and other important stakeholders. In my talk today, I will expand the scope of the typical shareholder value focus to consider the design and implementation of contracts with other stakeholders, particularly employees and organized labor.
This paper summarizes new evidence from the “Shared Capitalism” Project on the extent to which workers’ earnings depend on the performance of their firm or work group in the US and advanced European countries and on the impact of sharing arrangements on economic behavior.
Employee Financial Participation: An International Survey provides an overview of key international trends in employee ownership, pension reform, equity compensation, privatization, and employee financial participation in over 30 countries.
This paper provides an overview of existing data on employee share ownership (ESO) in Australia. It is concerned with broad-based employee share ownership plans.
The survival rate of worker cooperatives and employee-owned firms in market economics appears to equal or surpass that of conventional firms. But they typically return a different combination of economic benefits to their member-owners than do conventional firms…
It has been observed that corporate law and labour (or employment) law are in essence separate fields of legal scholarship and regulatory policy. This separation does not mean that there has been no interest by company lawyers in labour law or vice versa; nor does it mean that the two fields do not have relevance to one another. Clearly both corporate law and labour law have provided certain fundamental starting points for analysis which have helped shape the regulatory scope of each other.
Democratic Capitalism combines the free-market energies of competition and private property with the enormous productivity and innovation released in an environment of trust and cooperation. Ray Carey presents the theory and practice of democratic capitalism by coupling his experience with a synthesis of the thought of Adam Smith, Karl Marx, and John Stuart Mill.
By law, shareholders have an exclusive right to make certain corporate decisions, and this arrangement is generally justified by the shareholder’s role as the owner of the firm. However, many thoughtful observers hold that such a privileged position for shareholders is morally objectionable, in part because it neglects the important role played by employees.
There is a significant gap in the incidence and development of employee ownership between the European Union (EU) and the US when both sectors are examined.
This paper summarizes the findings from over 50 large-sample empirical studies that have been done on employee ownership and broad-based stock option plans in the past 25 years, covering studies on plan adoption, employee attitudes and behaviours, firm performance, and employee wages and wealth.
There are at least six reasons why we should be concerned with encouraging employee ownership at thesubnational level: at the level of the state, the province, the region, the municipality, or other subnationalgovernmental units or at the level of the industrial branch, cutting across governmental geographic units.
Henry Hansmann explains why different industries and different national economies exhibit different patterns of ownership forms.
Cooperatives are not, as everyone at this conference knows, just a peripheral or incidental or anachronistic or culturally limited form of organization. Rather, they are big business of a distinctly modern type.
Employee share schemes are becoming more prevalent worldwide. Originally designed as an ownership-broadening technique of finance, the term ‘ESOP’ is now used to describe a wide variety of employee participation strategies covering a diverse array of applications. ESOPs are best known for their adaptability and flexibility across a broad range of economic, political, and cultural circumstances.
In global competition, where investment increasingly determines a company’s capacity to upgrade and innovate, the U.S. system does not measure up.
The Global Equity Organization (GEO) provides a forum for an open exchange between members, regardless of position or affiliation, of the latest information as to the strategic, financial, cultural, legal, tax, communication and administrative issues involving the use of equity-based employee compensation in the global community.