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NIESR, CEP & British Academy Workshop

The Economics of Share Ownership and Incentive Pay: Findings and Policy Implications

Speakers Include:

Doug Kruse (Rutgers and NBER), Michele Pellizzari (Bocconi, Milan), Fidan Ana Kurtulus (UMass, Amherst), Andrew Pendleton (University of York), Lucy Newcombe (Computershare), Mary Ann Beyster (Foundation for Enterprise Development), Alex Bryson (NIESR & CEP).

Date: Thursday 26th May 2011
Time: 10.30am - 4.00pm
Venue: Centre for Economic Performance, Room LRB R405 4th Floor,
LSE Research Lab, Portugal Street, London WC2A 2HD (map and directions)

Programme and Papers

Overview: Although studies suggest value to firms investing in share schemes and incentive pay schemes the evidence is not clear-cut. It seems share ownership, in particular, operates best in combination with other HR and compensation policies, while individual incentive pay schemes have the clearest benefits in terms of labour productivity. Is the evidence on the economic gains from share schemes and gain-sharing about right, or has the empirical evidence yet to catch up with the reality on the ground? Perhaps we need better ways to identify the real impact of complex incentive schemes, or perhaps firms are looking at factors other than "the bottom line" when investing in such schemes? Tax breaks make a big difference to firms' propensity to use share schemes yet they adopt individual incentive pay without them. What does this tell us about group-based compensation schemes, and what is the net cost to tax payers? The purpose of this seminar is to bring together academics and policy makers to consider findings from recent studies and their policy implications.

Download Programme (PDF) Download Handbook (PDF)  

Programme and Papers

10.00 - 10.30am Coffee & Registration
10.30 - 10.40am Welcome & Introduction
10.40 - 11.25am Doug Kruse (Rutgers & NBER)
Shared Capitalism at Work
11.25am - 11.55pm Michele Pellizzari (Uni. Bocconi, Milan)
Paying for Performance: Incentive Pay Schemes and Employees' Financial Participation in Europe and the USA (PDF)
11.55 - 12.20pm Coffee Break
12.20pm - 12.50pm Fidan Ana Kurtulus (UMass, Amherst)
How did employee ownership firms weather the last two recessions? Employee ownership and employment stability
12.50 - 1.20pm

Andrew Pendleton (University of York)
The Economic effects of multiple incentive schemes

1.20 - 2.20pm Lunch
2.20 - 2.45pm Lucy Newcombe (Computershare)
Using Social Media to Promote Share Plan Participation
2.45 - 3.05pm Mary Ann Beyster (Foundation for Enterprise Development)
The role of broad employee ownership in the US economy
3.05 - 3.20pm Coffee Break
3.20 - 3.50pm Takao Kato (Colgate University)
Efficiency in Employee-owned Enterprises: an Econometric Case Study of Mondragon (PDF)
3.50 - 4.20pm Alex Bryson (NIESR & CEP)
Does share ownership affect employee behaviour? (PDF)
4.20 - 4.30pm Closing comments
4.30pm Drinks Reception

This seminar is funded by the British Academy grant BR100020 and Rutgers University.

Attendance is free. To register, please contact Jo Cantlay (j.m.cantlay@lse.ac.uk)

Link - Call for Papers: Advances in the Economic Analysis of Participatory and Labor-Managed Firms, Vol.13