Wpływ programów partycypacji finansowej na rezultaty przedsiębiorstw – analiza przypadku
Influence of financial participation schemes on company results – a case study
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Wider and wider scope of research into the influence of participation on the results achieved by companies confirms the belief that the previous results are not satisfactory, and there is a need for conducting further, even deeper surveys which might contribute to drawing less ambiguous conclusions on the basis of the analyses carried out. It is also necessary to improve the definitions of particular forms of financial participation because their different interpretation by various research teams frequently results in obtaining results that differ considerably. This fact does not allow for evaluation of the real level of employees’ participation in those schemes, which in turn does not reflect the results achieved on the grounds of their introduction in companies. The previous research, although not very complex, show that using programs which allow for a participation of employees in profit and/or ownership is often connected with higher efficiency or other benefits achieved by companies and workers. The research into the employees’ attitudes generally show positive relationships between the implemented share ownership programs and employees’ attitudes and behaviors, although the strength of this relation is not very great, or in marginal cases there is absence of such a relation. It is impossible to draw more straightforward causal conclusions because of the cross-section information and short-term data panels. Additionally, there are only a few studies making use of long-term data panel in which it is possible to display positive effects in the longer run. Similar research conducted in the companies using profit sharing show a general, positive impact on efficiency and it is definitely stronger than in the case of employee share ownership schemes. Moreover, in the professional literature there is a shortage of studies which would analyze the mutual interaction of different schemes. One of a few such attempts are the research conducted by G. Braam and E. Poutsma, which make use of the international database of companies, including 5000 of the most important enterprises, which contains financial, marketing and other data. The research were conducted in the period 1992–2006 on the sample of 1878 companies, listed on the Dutch stock.
- Braam G., Poutsma E., The Influence of Financial Participation on Company Performance. Evidence from a Dutch Longitudinal Panel. Paper for the 15th World Congress of the International Association for the Economics of Participation (IAFEP) Université Panthéon–Assas, Paris II, 8–10 July 2010, Institute for Management Research, Nijmegen School of Management.
- Fakhfakh F., Pérotin V., The effects of profit-sharing schemes on enterprise performance in France, Economic Analysis 2000/3 (2).
- Kaarsemaker E., Employee Ownership and Human resource Management. A Theoretical and Empirical Treatise with a Digression on the Dutch Context, Doctoral Dissertation, Radboud University, Nijmegen 2006.
- Klein K., Employee stock ownership and employee attitudes: a test of three models, Journal of Applied Psychology 1987/72 (2).
- Kruse D.L., Blasi J., Employee ownership, employee attitudes and firm performance: A review of the evidence, [w:] D. Lewin, D.J.B. Mitchell, M.A. Zaidi (eds.), The Human Resource Management Handbook, Part 1, JAI Press, Greenwich, CT, US 1997.
- Pendleton A., Employee ownership, participation and governance: a study of ESOPs in the UK, Routledge, London, New York 2001.
- Pendleton A., Wilson N., Wright M., The perception and effects of share ownership: empirical evidence from employee buy-outs, British Journal of Industrial Relations 1998/36 (1).
- Pierce J.L., Kostova T., Dirks K.T., The state of psychological ownership: Integrating and extending a century of research, Review of General Psychology 2003/7.
- Pierce J.L., Kostova T., Dirks K.T., Toward a theory of psychological ownership in organizations, Academy of Management Review 2001/2.
- Pierce J.L., Rubenfeld S.A. Morgan S., Employee ownership: A conceptual model of process and effects, Academy of Management Review 1991/16.
- Robinson A., Wilson N., Employee financial participation and productivity: an empirical re-appraisal, British Journal of Industrial Relations 2006/44 (1).
- Sesil J., Kroumova M., Blasi J., Kruse D.L., Broad-based employee stock options in US “new economy” firms, British Journal of Industrial Relations 2002/40.
- Wagner S., Parker C., Christiansen N., Employees that think and act like owners: effects of ownership beliefs and behaviors on organizational effectiveness, Personnel Psychology 2003/56 (4).
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