Share capitalism and worker wellbeing

Bryson, Alex and Clark, Andrew and Freeman, Richard B and Green, Colin Peter (2016) Share capitalism and worker wellbeing. Labour Economics, 42. pp. 151-158. ISSN 0927-5371

PDF (Share_Cap_and_Wellbeing_Final)
Share_Cap_and_Wellbeing_Final.pdf - Accepted Version
Available under License Creative Commons Attribution-NonCommercial-NoDerivs.

Download (220kB)


We show that worker wellbeing is determined not only by the amount of compensation workers receive but also by how compensation is determined. While previous theoretical and empirical work has often been preoccupied with individual performance-related pay, we find that the receipt of a range of group-performance schemes (profit shares, group bonuses and share ownership) is associated with higher job satisfaction. This holds conditional on wage levels, so that pay methods are associated with greater job satisfaction in addition to that coming from higher wages. We use a variety of methods to control for unobserved individual and job-specific characteristics. We suggest that half of the share-capitalism effect is accounted for by employees reciprocating for the “gift”; we also show that share capitalism helps dampen the negative wellbeing effects of what we typically think of as “bad” aspects of job quality.

Item Type:
Journal Article
Journal or Publication Title:
Labour Economics
Additional Information:
This is the author’s version of a work that was accepted for publication in Labour Economics. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Labour Economics, 42, 2016 DOI: 10.1016/j.labeco.2016.09.002
Uncontrolled Keywords:
ID Code:
Deposited By:
Deposited On:
15 Sep 2016 08:42
Last Modified:
11 May 2022 05:02