Shared Capitalism at Work

Shared Capitalism at Work

Employee Ownership, Profit and Gain Sharing, and Broad-Based Stock Options

In: National Bureau of Economic Research Conference Report

Edited by: Douglas L. Kruse , Richard B. Freeman and Joseph R. Blasi

University of Chicago Press | 2010

DOI: https://doi.org/10.7208/9780226056968

Overview
Contents

About this book

The historical relationship between capital and labor has evolved in the past few decades. One particularly noteworthy development is the rise of shared capitalism, a system in which workers have become partial owners of their firms and thus, in effect, both employees and stockholders. Profit sharing arrangements and gain-sharing bonuses, which tie compensation directly to a firm’s performance, also reflect this new attitude toward labor.

Shared Capitalism at Work analyzes the effects of this trend on workers and firms. The contributors focus on four main areas: the fraction of firms that participate in shared capitalism programs in the United States and abroad, the factors that enable these firms to overcome classic free rider and risk problems, the effect of shared capitalism on firm performance, and the impact of shared capitalism on worker well-being. This volume provides essential studies for understanding the increasingly important role of shared capitalism in the modern workplace.

Author information

Douglas L. Kruse is professor in the School of Management and Labor Relations at Rutgers University and a research associate of the National Bureau of Economic Research. Richard B. Freeman holds the Herbert Ascherman Chair in Economics at Harvard University and is a research associate of the NBER. He is the former director of the NBER Labor Studies program. Joseph R. Blasi holds the J. Robert Beyster Chair in the School of Management and Labor Relations at Rutgers University and is a research associate of the NBER.

Frontmatter Free access PDF PDF	i
Contents Free access PDF PDF	vii
Acknowledgments Free access PDF PDF	ix
Introduction Douglas L. Kruse, Joseph R. Blasi and Richard B. Freeman Access restricted Content is available PDF PDF	1
I. The Extent and Operation of Shared Capitalism
1. Shared Capitalism in the U.S. Economy: Prevalence, Characteristics, and Employee Views of Financial Participation in Enterprises Rhokeun Park, Joseph R. Blasi and Douglas L. Kruse Access restricted Content is available PDF PDF	41
2. Worker Responses to Shirking under Shared Capitalism Joseph R. Blasi, Douglas L. Kruse and Richard B. Freeman Access restricted Content is available PDF PDF	77
3. Risk and Lack of Diversifi cation under Employee Ownership and Shared Capitalism Harry M. Markowitz, Douglas L. Kruse and Joseph R. Blasi Access restricted Content is available PDF PDF	105
II. Firm Performance
4. Creating a Bigger Pie? The Effects of Employee Ownership, Profi t Sharing, and Stock Options on Workplace Performance Douglas L. Kruse, Christopher Mackin, Richard B. Freeman and Joseph R. Blasi Access restricted Content is available PDF PDF	139
5. Complementarity of Shared Compensation and Decision- Making Systems: Evidence from the American Labor Market Richard B. Freeman and Arindrajit Dube Access restricted Content is available PDF PDF	167
6. How Does Shared Capitalism Affect Economic Performance in the United Kingdom? Richard B. Freeman and Alex Bryson Access restricted Content is available PDF PDF	201
7. Who Has a Better Idea? Innovation, Shared Capitalism, and Human Resources Policies Joseph R. Blasi, Douglas L. Kruse and Erika E. Harden Access restricted Content is available PDF PDF	225
III. Worker Well- Being
8. Do Workers Gain by Sharing? Employee Outcomes under Employee Ownership, Profi t Sharing, and Broad- Based Stock Options Joseph R. Blasi, Richard B. Freeman and Douglas L. Kruse Access restricted Content is available PDF PDF	257
9. Does Employee Ignorance Undermine Shared Capitalism? John W. Budd Access restricted Content is available PDF PDF	291
10. Who Benefits from Shared Capitalism? The Social Stratification of Wealth and Power in Companies with Employee Ownership Edward J. Carberry Access restricted Content is available PDF PDF	317
11. Show Me the Money: Does Shared Capitalism Share the Wealth? Adria Scharf, Loren Rodgers, Douglas L. Kruse and Robert Buchele Access restricted Content is available PDF PDF	351
Epilogue (and Prologue) Richard B. Freeman, Douglas L. Kruse and Joseph R. Blasi Access restricted Content is available PDF PDF	377
Appendix A: Variable Defi nitions and Descriptive Statistics (All Chapters) Access restricted Content is available PDF PDF	387
Appendix B: The Shared Capitalist Thermometer Index Access restricted Content is available PDF PDF	403
Contributors Access restricted Content is available PDF PDF	407
Author Index Access restricted Content is available PDF PDF	409
Subject Index Access restricted Content is available PDF PDF	415

Shared Capitalism at Work

Employee Ownership, Profit and Gain Sharing, and Broad-Based Stock Options

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