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Sharing Is Caring: Employee Stock Ownership Plans and Employee Well-Being in U.S. Manufacturing

Author

Listed:
  • Adrianto, Adrianto

    (University of Minnesota)

  • Ben-Ner, Avner

    (University of Minnesota)

  • Sockin, Jason

    (Cornell University)

  • Urtasun, Ainhoa

    (Universidad Pública de Navarra)

Abstract

Do employees fare better in firms they partly own? Examining workers' reviews of their employers on Glassdoor, we compare employee satisfaction between firms in which workers own company shares through an employee stock ownership plan (ESOP) and conventional firms in which they do not. Focusing on workers in U.S. manufacturing, we find employees report greater satisfaction in employee-owned firms overall and with specific aspects of jobs such as firm culture. This satisfaction premium is greater when the ESOP is the product of collective bargaining or employees own a larger stake of firm equity. Employee well-being can thus differ by ownership arrangement.

Suggested Citation

  • Adrianto, Adrianto & Ben-Ner, Avner & Sockin, Jason & Urtasun, Ainhoa, 2024. "Sharing Is Caring: Employee Stock Ownership Plans and Employee Well-Being in U.S. Manufacturing," IZA Discussion Papers 17233, Institute of Labor Economics (IZA).
    • Handle: RePEc:iza:izadps:dp17233
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    More about this item

    Keywords

    ESOP; job satisfaction; collective bargaining; culture;
    All these keywords.

    JEL classification:

    • J52 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Dispute Resolution: Strikes, Arbitration, and Mediation
    • J28 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Safety; Job Satisfaction; Related Public Policy
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

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