Monday, October 10, 2011


IWS Documented News Service
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor----------------------
Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau


ILR Press (an imprint of Cornell University Press)


Employee Ownership and Shared Capitalism [2011]

New Directions in Research

Edward J. Carberry (Editor)


Paper, 2011 ISBN: 978-0-913447-03-1

$ 29.95   £18.50




"One of the most persistent and important, but often ignored, trends contemporary market economies continues to be the ownership of firms by their employees. Since the emergence of different experiments with employee ownership in the early twentieth century, a growing group of companies and expanding set of institutions have opened the door for firms to share the financial returns of economic production with broad groups of employees. The growth of various forms of "shared capitalism" has meant that currently a little under half of all employees in the private sector own stock in the companies in which they work or receive cash-based bonuses linked to different measures of corporate performance. Employee ownership is a complex phenomenon that can be and has been fruitfully analyzed from a number of different social scientific perspectives. This book showcases the diverse state of cutting-edge academic work on shared capitalism in the United States and Western Europe. Its chapters present a representative cross-section of current research, lively debates, and new research initiatives. Employee Ownership and Shared Capitalism illuminates shared capitalism's complexity as an organizational, psychological, sociological, and economic phenomenon that requires deep interdisciplinary understanding. Serdar Aldatmaz (University of North Carolina); Saioa Arando (Mondragon University); Daphne Perkins Berry (University of Massachusetts Amherst); Joseph R. Blasi (Rutgers, The State University of New Jersey); Francesco Bova (University of Toronto); Marco Caramelli (INSEEC Business School); Edward J. Carberry (Erasmus University); Adrienne E. Eaton (Rutgers, The State University of New Jersey); Fred Freundlich (Mondragon University); Monica Gago (Mondragon University); Derek C. Jones (Hamilton College); Takao Kato (Colgate University); Douglas L. Kruse (Rutgers, The State University of New Jersey); Fidan Ana Kurtulus (University of Massachusetts Amherst); John Logue (Kent State University); John E. McCarthy (Rutgers, The State University of New Jersey); Joan S. M. Meyers (Rutgers, The State University of New Jersey); Paige Ouimet (University of North Carolina); Andrew Pendleton (University of York); Stu Schneider (Cooperative Home Care Associates); Paula B. Voos (Rutgers, The State University of New Jersey); Jacquelyn Yates (Kent State University) "


About the Author

Edward J. Carberry is Assistant Professor in the Business-Society Management department at the Rotterdam School of Management



Chapter 1. Employee Ownership and Shared Capitalism: Assessing the Experience, Research, and Policy Implications

by Edward J. Carberry


Section I: Organized Labor and Shared Capitalism


Chapter 2. Solidarity and Sharing: Unions and Shared Capitalism

by John E. McCarthy, Paula Voos, Adrienne.E. Eaton, Douglas L. Kruse, and Joseph R. Blasi


Chapter 3. Improving the Quality of Home Health Aide Jobs: A Collaboration between Organized Labor and a Worker Cooperative

by Daphne Perkins Beny and Stu Schneider


Chapter 4. Shared Capitalism, Corporate Disclosure, and Management's Incentive to Signal a Positive Outlook

by Francesco Bova


Section II: New Theoretical and Empirical Approaches


Chapter 5. Employee Ownership, Democratic Control, and Working-Class Empowerment

by Joan S. M. Meyers


Chapter 6. An Empirical Analysis of Risk Preferences, Compensation Risk, and Employee Outcomes

by Fidan Ana Kurtulus, Douglas L. Kruse, and Joseph R. Blasi


Chapter 7. Employee Ownership and Corporate Performance: Toward Unlocking the Black Box

by Marco Caramelli


Chapter 8. The Determinants and Consequences of Broad-Based Stock Option Plans: The View from Economics and Finance

by Serdar Aldatmaz and Paige Ouimet


Section Ill: Assessing the Experience of Shared Capitalism in Different National Contexts


Chapter 9. Assessing Mondragon: Stability and Managed Change in the Face of Globalization

by Saioa Arando, Fred Freundlich, Monica Gago, Derek C. Jones, and Takao Kato


Chapter 10. Ohio's ESOP Companies Through Two Decades: Growing Up or Growing Old?

by John Logue and Jacquelyn Yates


Chapter 11. Employee Ownership in Britain: Diverse Forms, Diverse Antecedents

by Andrew Pendleton


This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.

Stuart Basefsky                   
Director, IWS News Bureau                
Institute for Workplace Studies 
Cornell/ILR School                        
16 E. 34th Street, 4th Floor             
New York, NY 10016                        
Telephone: (607) 262-6041               
Fax: (607) 255-9641                       



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