Share capitalism and worker wellbeing
Alex Bryson,
Andrew Clark,
Richard Freeman and
Colin Green (colin.green@ntnu.no)
Labour Economics, 2016, vol. 42, issue C, 151-158
Abstract:
We show that worker wellbeing is determined not only by the amount of compensation workers receive but also by how compensation is determined. While previous theoretical and empirical work has often been preoccupied with individual performance-related pay, we find that the receipt of a range of group-performance schemes (profit shares, group bonuses and share ownership) is associated with higher job satisfaction. This holds conditional on wage levels, so that pay methods are associated with greater job satisfaction in addition to that coming from higher wages. We use a variety of methods to control for unobserved individual and job-specific characteristics. We suggest that half of the share-capitalism effect is accounted for by employees reciprocating for the “gift”; we also show that share capitalism helps dampen the negative wellbeing effects of what we typically think of as “bad” aspects of job quality.
Keywords: Job satisfaction; Wages; Compensation methods; Working conditions (search for similar items in EconPapers)
JEL-codes: J28 J33 J54 J63 J81 M52 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (13)
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Related works:
Working Paper: Share capitalism and worker wellbeing (2016)
Working Paper: Share capitalism and worker wellbeing (2016)
Working Paper: Share Capitalism and Worker Wellbeing (2015)
Working Paper: Share capitalism and worker wellbeing (2015)
Working Paper: Share Capitalism and Worker Wellbeing (2014)
Working Paper: Share Capitalism and Worker Wellbeing (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:labeco:v:42:y:2016:i:c:p:151-158
DOI: 10.1016/j.labeco.2016.09.002
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