Levels of Employee Share Ownership and the Performance of Listed Companies in Europe

被引：21

作者：

Richter, Ansgar ^{[1
]}

Schrader, Susanne ^{[2
]}

机构：

[1] Univ Liverpool, Sch Management, Liverpool, Merseyside, England

[2] Boston Consulting Grp Inc, Cologne, Germany

来源：

BRITISH JOURNAL OF INDUSTRIAL RELATIONS | 2017年 / 55卷 / 02期

关键词：

RESOURCE MANAGEMENT-PRACTICES; STOCK-OWNERSHIP; ORGANIZATIONAL PERFORMANCE; FINANCIAL PARTICIPATION; WORKER PARTICIPATION; PRODUCTIVITY; PLANS; FIRM; IMPACT; RIGHTS;

D O I：

10.1111/bjir.12169

中图分类号：

F24 [劳动经济];

学科分类号：

020106 ; 020207 ; 1202 ; 120202 ;

摘要：

We investigate the effects of employee share ownership (ESO) on three alternative measures of firm performance in a panel of 1,115 companies from the five largest European economies. The results show that firms with ESO enjoy significantly higher levels of capital market performance and of accounting performance than firms without ESO; however, the marginal effects of ESO are declining with increasing ESO levels. ESO does not have a clear effect on productivity. These findings hold for all countries except Spain. Variations in ESO levels within firms over time exert few performance effects.

引用

页码：396 / 420

页数：25

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