Employee Ownership and Promotive Voice: The Roles of Psychological Ownership and Perceived Alignment of Interests

Dylan A. Cooper, Tony Fang () and Vincent Wan
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Dylan A. Cooper: California State University, Channel Islands
Tony Fang: Memorial University of Newfoundland
Vincent Wan: Shandong University

No 18023, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: Using a National Bureau of Economic Research dataset of employees of 14 United States companies with shared capitalism practices, we compare two prominent explanations of employee ownership’s influence on pro-organizational behaviors—psychological ownership and alignment of financial interests—by testing the effects of Employee Stock Ownership Plans (ESOPs) and current profit sharing on promotive voice. We conducted a path-analysis of a moderated multiple-mediation regression model using the PROCESS macro. Our sample included 16,557 participants. We find that psychological ownership partially transmits the effects of ESOP participation and current profit sharing on promotive voice. Employee decision influence strengthens the relationship between ESOP participation and psychological ownership. Perceived alignment of interests does not mediate the relationships between employee ownership and promotive voice.

Keywords: Employee Stock Ownership Plan; psychological ownership; promotive voice; employee ownership; profit sharing; decision influence (search for similar items in EconPapers)
JEL-codes: J24 J26 J28 J33 J54 (search for similar items in EconPapers)
Date: 2025-07
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