[URPE] article on worker ownership available

[Brent Kramer]

 Friends,

For those with access to SAGE journals, this is to let you know that SAGE has just published an article based on my dissertation, "Employee ownership and participation effects on outcomes in firms majority employee-owned through employee stock ownership plans in the US." It's in the November (2010) issue of Economic and Industrial Democracy, 31(4) 449–476.

Here's the abstract, in case you're interested...

Theauthor compares sales per employee for a panel of over 300 US firms which aremajority employee-owned through Employee Stock Ownership Plans with a panel ofclosely matched, traditionally-owned firms. Responses from a survey of firmwork practices are used to estimate worker participation effects.
 
Comparing matched firms, sales per employee is substantially andsignificantly higher for the employee-owned group of firms. This“employee-owned advantage” is significantly greater among smaller firms, and(holding firm size constant) improves as the average employee’s ownership stakein firm stock goes up. Holding both firm size and employee stake constant, theemployee-owned advantage is substantially (though not significantly) greater inthe large group of firms which are 100% owned by their ESOP Trusts. Holdingfirm size constant, increased production-worker influence on three facets offirm innovation also improves the advantage.

Brent Kramer


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