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Employee Stock Ownership Plans and Productivity in Japanese Manufacturing Firms.
- Source :
- British Journal of Industrial Relations; Sep93, Vol. 31 Issue 3, p331-346, 16p
- Publication Year :
- 1993
-
Abstract
- By using a large new enterprise-level data set, and evidence drawn from case studies, we show that Japanese employee stock ownership plans (ESOPs) are a pervasive and neglected institution. In 1988, more than 90% of all firms listed on Japanese stock markets had an ESOP, and close to 50% of the labour force in firms with ESOPs participated in the plan. Micro data and a production function framework are used to examine the effects on business performance of ESOPs. On average, the net effect of introducing an ESOP is to increase productivity by almost 7%. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 00071080
- Volume :
- 31
- Issue :
- 3
- Database :
- Complementary Index
- Journal :
- British Journal of Industrial Relations
- Publication Type :
- Academic Journal
- Accession number :
- 5401677
- Full Text :
- https://doi.org/10.1111/j.1467-8543.1993.tb00401.x