The Effects of Profit-Sharing on Employment, Wages, Stock Returns and Productivity: Evidence from UK Micro-data.
This paper provides evidence based on U.K. firm-level data that: (1) the authors cannot reject the view that profit-sharing firms view the total level of remuneration as the marginal cost of labor, which is contrary to much of Weitzman's analysis; (2) there is some support for the popular view that profit sharing raises total remuneration and can, therefore, be inflationary; and (3) the introduction of profit sharing does lead to higher productivity, but, this combined with the employment-reducing consequences of (2) leads the authors to conclude that the net employment effect is small and uncertain. Copyright 1990 by Royal Economic Society.
Year of publication: |
1990
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Authors: | Wadhwani, Sushil ; Wall, Martin |
Published in: |
Economic Journal. - Royal Economic Society - RES, ISSN 1468-0297. - Vol. 100.1990, 399, p. 1-17
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Publisher: |
Royal Economic Society - RES |
Saved in:
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