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Employee-Owned BusinessesÕ Responses During the Pandemic: Economic, Non-Economic Goal and Democratic Resilience and Their Link to Ownership, Control and Benefit

Author

Listed:
  • Juliette Summers

    (Stirling Management School, University of Stirling (UK))

  • Boyka Bratanova

    (School of Management, University of St Andrews (UK))

Abstract

Theoretically informed by the degeneration thesis and explored through the lens of BirchallÕs tripartite concept of ownership, control and benefit, this paper investigates the resilience of employee-owned businesses during the pandemic. The originality of this paper lies in the novel incorporation of hybrid EOBs, disbenefit (in the form of debt burden), and length of employee ownership to BirchallÕs model. Our findings indicate that firms with longer-standing employee ownership are characterised by lower levels of debt burden and tend to exhibit better economic resilience. Higher levels of ownership, on the other hand, are strongly and positively linked to both non-economic and democratic resilience, but there is no significant association between level of ownership and economic resilience. Taken together, our findings provide contemporary empirical evidence that supports BirchallÕs assertion that employee ownership has Òthe potential to transform the meaning of ÔeconomicÕ to include the socialÓ (2012a: 70), but under certain conditions, suggesting important lessons for rebuilding more inclusive economies.

Suggested Citation

  • Juliette Summers & Boyka Bratanova, 2023. "Employee-Owned BusinessesÕ Responses During the Pandemic: Economic, Non-Economic Goal and Democratic Resilience and Their Link to Ownership, Control and Benefit," Journal of Entrepreneurial and Organizational Diversity, European Research Institute on Cooperative and Social Enterprises, vol. 12(2), pages 73-98.
    • Handle: RePEc:trn:csnjrn:v:12:i:2:p:73-98
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    More about this item

    Keywords

    Employee-owned; Worker cooperatives; Birchall; Degeneration; Resilience;
    All these keywords.

    JEL classification:

    • L00 - Industrial Organization - - General - - - General
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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