Wages, Employment, and Capital in Capitalist and Worker-Owned Firms

Author:

Pencavel John,Pistaferri Luigi,Schivardi Fabiano

Abstract

The authors investigate how worker-owned and capitalist enterprises differ with respect to wages, employment, and capital in Italy, the market economy with the greatest incidence of worker-owned and worker-managed firms. Estimates calculated using a matched employer-worker panel data set for the years 1982–94 largely corroborate the implications of orthodox behavioral models of the two types of enterprise. Co-ops had 14% lower wages than capitalist enterprises, on average; more volatile wages; and less volatile employment. Given the quality of the data set analyzed, the authors argue, these results can be regarded as having broad generality.

Publisher

SAGE Publications

Subject

Management of Technology and Innovation,Organizational Behavior and Human Resource Management,Strategy and Management

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