Many large listed firms offer workers the opportunity to buy shares in the firm at discounted rates through employee stock purchase plans (ESPP). The discounted rate creates a gift exchange, where the firm hopes that workers who accept the gift reciprocate with greater loyalty and effort. But...

Many large listed firms offer workers the opportunity to buy shares in the firm at discounted rates through employee stock purchase plans (ESPP). The discounted rate creates a gift exchange, where the firm hopes that workers who accept the gift reciprocate with greater loyalty and effort. But...

Many large listed firms offer workers the opportunity to buy shares in the firm at discounted rates through employee stock purchase plans (ESPP). The discounted rate creates a gift exchange, where the firm hopes that workers who accept the gift reciprocate with greater loyalty and effort. But...

This paper analyses the repercussions of the institutional aspects of co-operatives in the decision making process, in arranging the incentive system for members, and discretionary behaviour among management. From a comparative analysis of capitalistic companies, the paper studies the nature of...

From a compared institutional analysis, the institutional characteristics and problems of agency are defined in different types of firms. There follows an examination of the interdependence and circularity of the problem of agency in labour managed firms, and the problems of control which occur...

We develop a simple incomplete-contract model of the relationship between worker participation to revenue sharing and innovation performance of firms, under firing regimes with different stringency. Stronger worker participation to profits is shown to increase innovation probability when...