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Employee and Owner - Convertibles

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  • Barbro Skoldebrand

Abstract

Since 1983, the issuing of 'convertibles' to employees has become a widespread practice among Swedish companies. By now, more than 200 companies and 200,000 employees are involved. Convertibles are a kind of debentures. They are debt-instruments or promissory notes issued against a loan from employee to employer, and can be converted into shares after a fixed period. This report is the first systematic study of the phenomenon. It forms the first part of a project initiated by the Swedish Center for Working Life in cooperation with LO (the Swedish Confederation of Trade Unions) and SIF (the Swedish national trade union of industrial white collar workers). The purpose is to survey and describe the extent of convertible ownership, and to discuss the motives for, and the possible effects of, the present development. The survey concerns only issuings for which all employees are eligible. All kinds of privately owned limited companies are involved, quoted and unquoted.

Suggested Citation

  • Barbro Skoldebrand, 1989. "Employee and Owner - Convertibles," Economic and Industrial Democracy, Department of Economic History, Uppsala University, Sweden, vol. 10(4), pages 543-553, November.
    • Handle: RePEc:sae:ecoind:v:10:y:1989:i:4:p:543-553
    DOI: 10.1177/0143831X89104007
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