Bryson, AJ;
Freeman, RB;
Clark, AE;
Green, CP;
(2016)
Share capitalism and worker wellbeing.
Labour Economics
, 42
pp. 151-158.
10.1016/j.labeco.2016.09.002.
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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.
| Type: | Article |
|---|---|
| Title: | Share capitalism and worker wellbeing |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.1016/j.labeco.2016.09.002 |
| Publisher version: | http://doi.org/10.1016/j.labeco.2016.09.002 |
| Language: | English |
| Additional information: | © 2016 The Authors. Published by Elsevier B.V. This is an open access article under the Creative Commons Attribution 4.0 International (CC BY 4.0) license (http://creativecommons.org/licenses/by/4.0/) |
| Keywords: | Job satisfaction; Wages; Compensation methods; Working conditions |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > School of Education UCL > Provost and Vice Provost Offices > School of Education > UCL Institute of Education UCL > Provost and Vice Provost Offices > School of Education > UCL Institute of Education > IOE - Social Research Institute |
| URI: | https://discovery.ucl.ac.uk/id/eprint/1517697 |
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