Does Shared Capitalism Work?
in Britain, the United States and elsewhere in the advanced countries, shared capitalist arrangements have increased way beyond niche status.Today, more employees have a bigger fi nancial stake in
their fi rms than ever before. Forty four per cent of United States employees have part of their pay linked to company performance, either through ownership, stock options,profi t-sharing or gain-sharing. In Britain, one fifth of private sector workplaces have share ownership schemes
covering one third of employees. Our research, which analyses data from the 2004 Workplace Employment Relations Survey, finds positive effects of share ownership on workplace productivity,with the effects being much more pronounced when shared capitalist schemes are deployed in combination. Share ownership has the clearest positive association with productivity, but its impact is largest when combined with other forms of shared capitalist pay.