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The Productivity Effects of Worker Directors and Financial Participation by Employees in the Firm: The Case of British Retail Cooperatives

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  • Derek C. Jones

Abstract

In British retail cooperatives, workers have long had the opportunity to participate financially in their enterprises, through such mechanisms as employee ownership, and to serve on boards. Using data from a 1978 sample of 50 cooperatives, the author of this paper presents econometric estimates of the effects on co-op productivity of these channels of participation. He finds that the presence of worker directors modestly increases productivity, whereas, surprisingly, financial participation in the firm by employees reduces productivity. The net impact on productivity of both forms of participation is small but positive.

Suggested Citation

  • Derek C. Jones, 1987. "The Productivity Effects of Worker Directors and Financial Participation by Employees in the Firm: The Case of British Retail Cooperatives," ILR Review, Cornell University, ILR School, vol. 41(1), pages 79-92, October.
    • Handle: RePEc:sae:ilrrev:v:41:y:1987:i:1:p:79-92
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    Cited by:

    1. Terhi Chakhovich, 2010. "The role of outcome focus within subject positions tied to shareholder value," Qualitative Research in Accounting & Management, Emerald Group Publishing Limited, vol. 7(4), pages 450-475, November.
    2. Arando, Saioa & Gago, Monica & Jones, Derek C. & Kato, Takao, 2011. "Efficiency in Employee-Owned Enterprises: An Econometric Case Study of Mondragon," IZA Discussion Papers 5711, Institute of Labor Economics (IZA).
    3. Bryson, Alex & Freeman, Richard, 2008. "How does shared capitalism affect economic performance in the UK?," LSE Research Online Documents on Economics 51596, London School of Economics and Political Science, LSE Library.
    4. Hristos Doucouliagos & Patrice Laroche & Douglas L Kruse & T D Stanley, 2018. "Where does profit sharing work best? A meta-analysis on the role of unions, culture, and values," Post-Print hal-03048678, HAL.
    5. Morley Gunderson & Jeffrey Sack & James McCartney & David Wakely & Jonathan Eaton, 1995. "Employee Buyouts in Canada," British Journal of Industrial Relations, London School of Economics, vol. 33(3), pages 417-442, September.
    6. Xin Meng & Frances Perkins, 1996. "Behavioural Differences among Chinese Firms From the Perspective of Earnings Determination," Departmental Working Papers 1996-09, The Australian National University, Arndt-Corden Department of Economics.
    7. Alex Bryson & Richard B. Freeman, 2010. "How Does Shared Capitalism Affect Economic Performance in the United Kingdom?," NBER Chapters, in: Shared Capitalism at Work: Employee Ownership, Profit and Gain Sharing, and Broad-based Stock Options, pages 201-224, National Bureau of Economic Research, Inc.
    8. Aleksandra Gregorič & Marc Steffen Rapp, 2019. "Board‐Level Employee Representation (BLER) and Firms’ Responses to Crisis," Industrial Relations: A Journal of Economy and Society, Wiley Blackwell, vol. 58(3), pages 376-422, July.
    9. Bryson, Alex & Freeman, Richard B., 2007. "Doing the right thing? does fair share capitalism improve workplace performance," LSE Research Online Documents on Economics 4964, London School of Economics and Political Science, LSE Library.
    10. Douglas L. Kruse, 1993. "Does Profit Sharing Affect Productivity?," NBER Working Papers 4542, National Bureau of Economic Research, Inc.
    11. Douglas Kruse & Joseph Blasi, 1995. "Employee Ownership, Employee Attitudes, and Firm Performance," NBER Working Papers 5277, National Bureau of Economic Research, Inc.

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