Employee Share Ownership and Profit Sharing

A Global Phenomenon

Jonathan Michie, Joseph Blasi

• Publisher: Routledge
• Year: 2025
• eBook ISBN: 9781040817612
• Topic: Business
• Subtopic: Private Equity
• Index: Business

This book presents a comprehensive examination of employee share ownership, profit sharing, and gain sharing practices in contemporary business environments. Drawing from rigorous academic research presented at the prestigious Oxford University-Rutgers University Conference on Shares, it offers valuable insights into how these ownership structures function across different organizational contexts. The collection analyzes both the contextual factors that influence share plans and their measurable impacts on companies and individuals.

The volume is organized into two main sections. The first explores the financial, corporate cultural, and social contexts that shape employee ownership programs, including groundbreaking research on earnings management in French companies, workplace spillover theory, financial structures in Spanish worker cooperatives, and critical success factors for fostering ownership culture. The second section provides evidence-based analysis of outcomes and impacts, examining whether these organizational forms deliver concrete benefits for firms and workers.

Through careful examination of international case studies and empirical data, the book demonstrates that while employee ownership and profit sharing conceptually align individual rewards with organizational performance, their success depends on appropriate human resource management practices and supportive corporate cultures. The research highlights how these models can address wage stagnation by allowing workers to access returns on capital.

This book is essential reading for students, researchers and scholars in management studies, organizational behavior, and labor economics, as well as corporate executives, HR professionals, and policymakers interested in alternative ownership structures.

The chapters in this book were originally published in International Review of Applied Economics.

Table of contents

• Cover
• Half Title
• Title Page
• Copyright Page
• Table of Contents
• Citation Information
• Notes on Contributors
• Introduction: Realising the mutual advantage
• 1 Disabilities, shared capitalism, and wealth: evidence from health and retirement survey
• 2 Feeling like owners: the impact of high-performance work practices and psychological ownership on employee outcomes in employee-owned companies
• 3 Employee share ownership and the nature of earnings management
• 4 Retheorizing workplace spillover theory: does an economic-based pathway exist?
• 5 Interrelations of broad-based employee stock compensation, organisational justice perception, and psychological ownership
• 6 Race, inclusion, and equity: do ESOP jobs deliver for Black workers?
• 7 Operationalizing critical success factors of employee ownership using principles of learning management
• 8 Financial participation, productivity and conflict in French firms
• 9 Does employee ownership promote workers’ wealth accumulation? The case of stock options
• 10 Employee ownership: a view from the lab
• 11 Voluntary sustainability standards, employee ownership, and the sustainable development goals: can VSS leverage EO to accelerate progress towards the SDGs?
• 12 The productivity effects of worker representation on the board
• 13 Employee benefit programs and corporate social responsibility: the impacts of flexibility- and stability-enhancing programs
• 14 A review of the applicability of the main theories of financial structure to Spanish worker cooperatives
• 15 The impact of employee share ownership on job quality: insights from closely held businesses
• 16 The role of agricultural cooperatives in economic development: international experience
• Index