Chapter

How Does Shared Capitalism Affect Economic Performance in the United Kingdom?

Alex Bryson and Richard B. Freeman

in Shared Capitalism at Work

Published by University of Chicago Press

Published in print May 2010 | ISBN: 9780226056951
Published online February 2013 | e-ISBN: 9780226056968 | DOI: http://dx.doi.org/10.7208/chicago/9780226056968.003.0007
How Does Shared Capitalism Affect Economic Performance in the United Kingdom?

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This chapter explores the effect of shared capitalism in economic performance in the United Kingdom. It mentions that firms use various forms of shared capitalist pay together and often accompany them with other labor practices, consistent with the complementary hypothesis. But firms switch among schemes frequently, which suggests that they have trouble optimizing and that the transactions cost of switching are relatively low. Among the single schemes, share ownership has the clearest positive association with productivity, but its impact is largest when firms combine it with other forms of shared capitalist pay. An analysis was conducted by using the linked employer-employee data from the British 2004 Workplace Employment Relations Survey (WERS) to estimate the impact of shared capitalism on productivity and to assess some of the mechanisms by which it produces different outcomes at different workplaces.

Keywords: shared capitalism; economic performance; United Kingdom; productivity; workplace; share ownership; Workplace Employment Relations Survey

Chapter.  9495 words.  Illustrated.

Subjects: Economic History

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