Advances in the Economic Analysis of Participatory and Labor-Managed Firms, Volume 12

FRONT COVER......Page 1
ADVANCES IN THE ECONOMIC ANALYSIS OF PARTICIPATORY AND LABOR-MANAGED FIRMS......Page 4
COPYRIGHT PAGE......Page 5
CONTENTS......Page 6
LIST OF CONTRIBUTORS......Page 10
FOREWORD......Page 12
INTRODUCTION......Page 14
PART I: JOB DESIGN AND ORGANIZATIONAL PERFORMANCE......Page 21
SPECIALIZATION, MULTISKILLING, AND ALLOCATION OF DECISION RIGHTS......Page 23
INTRODUCTION......Page 24
BASIC MODEL......Page 29
BASIC RESULTS......Page 34
ALLOCATION OF DECISION RIGHTS......Page 36
COLLECTIVE BARGAINING AND COOPERATION......Page 42
DISCUSSION......Page 43
NOTES......Page 45
REFERENCES......Page 47
THE EFFECT OF MULTISKILLING ON LABOR PRODUCTIVITY, PRODUCT QUALITY, AND FINANCIAL PERFORMANCE......Page 55
INTRODUCTION......Page 56
LITERATURE REVIEW......Page 59
DATA......Page 62
EMPIRICAL STRATEGY AND ANALYSIS......Page 66
DISCUSSION......Page 74
ACKNOWLEDGMENTS......Page 78
REFERENCES......Page 79
APPENDIX. VARIABLE DEFINITIONS......Page 81
TEAMS, AUTONOMY, AND THE FINANCIAL PERFORMANCE OF FIRMS: NEW EVIDENCE FROM PANEL DATA......Page 83
INTRODUCTION......Page 84
BACKGROUND AND PREVIOUS LITERATURE......Page 85
DATA AND MEASURES......Page 88
EMPIRICAL TESTS......Page 92
DISCUSSION AND CONCLUSION......Page 101
REFERENCES......Page 103
PART II: COMPENSATION, WORKER ATTITUDES, AND PRODUCTIVITY......Page 107
HOW DO RULES AND COSTS AFFECT A FIRM’S SETTING OF BENEFITS? THE CASE OF HEALTH INSURANCE AND WORKFORCE SKILLS......Page 109
FRAMEWORK......Page 111
RESEARCH DESIGN......Page 114
DATA AND EMPIRICAL ANALYSIS......Page 116
RESULTS......Page 121
SUMMARY AND DISCUSSION......Page 126
NOTES......Page 128
REFERENCES......Page 130
APPENDIX......Page 132
MAJORITY OWNERSHIP AND CHIEF EXECUTIVE COMPENSATION......Page 135
INTRODUCTION......Page 136
CONCEPTUAL FRAMEWORK......Page 137
PRIVATIZATION AND TRANSITION IN ESTONIA......Page 140
DATA......Page 142
THE RELATION BETWEEN EXECUTIVE COMPENSATION AND FIRM PERFORMANCE IN TRANSITION......Page 146
SUMMARY AND IMPLICATIONS......Page 152
APPENDIX. DEFINITIONS OF VARIABLES......Page 155
NOTES......Page 156
REFERENCES......Page 158
WORKER ATTITUDES TOWARD EMPLOYEE OWNERSHIP, PROFIT SHARING AND VARIABLE PAY......Page 163
INTRODUCTION......Page 164
THEORY AND PRIOR LITERATURE......Page 165
DATA AND VARIABLES......Page 167
METHODOLOGY......Page 172
UNCONDITIONAL STATISTICS......Page 173
WHICH WORKERS PREFER FINANCIAL PARTICIPATION?......Page 175
CONCLUSION......Page 181
NOTES......Page 182
REFERENCES......Page 183
APPENDIX......Page 186
PERFORMANCE-RELATED PAY, UNIONS, AND PRODUCTIVITY IN ITALY: EVIDENCE FROM QUANTILE REGRESSIONS......Page 189
INTRODUCTION......Page 190
PRODUCTIVITY, PERFORMANCE PAYMENTS, AND UNIONS: A SHORT REAPPRAISAL......Page 192
DATA AND DESCRIPTIVE STATISTICS......Page 195
ESTIMATION RESULTS......Page 203
MANUFACTURING AND SERVICES SECTORS......Page 206
NOTES......Page 210
ACKNOWLEDGMENTS......Page 211
REFERENCES......Page 212
PART III: WORKER COOPERATIVES AND NONPROFIT ORGANIZATIONS......Page 217
PROFIT REINVESTMENT IN ITALIAN WORKER COOPERATIVES AS A CONTRIBUTION TO A COMMON GOOD: AN EMPIRICAL ANALYSIS ON WORKERS’ PERCEPTION AND MOTIVATION......Page 219
INTRODUCTION......Page 220
ASSET LOCKS IN ITALIAN WORKER COOPERATIVES......Page 222
A THEORETICAL FRAMEWORK ON PROFIT REINVESTMENT AS A COLLECTIVE ACTION: HOW TO ENHANCE COOPERATION......Page 224
INDIVIDUAL CHARACTERISTICS OF MEMBERS AND THEIR OPINION ON ASSET LOCKS: THE EMPIRICAL ANALYSIS......Page 228
CONCLUDING REMARKS......Page 242
NOTES......Page 245
REFERENCES......Page 247
DOES TRAINING POLICY HELP TO ATTRACT, RETAIN, AND DEVELOP VALUABLE HUMAN RESOURCES? ANALYSIS FROM THE MONDRAGON CASE......Page 251
INTRODUCTION......Page 252
THE VALUE OF TALENT......Page 254
THE MONDRAGON CORPORATION AND TRAINING POLICY......Page 256
METHODOLOGY OF THE INVESTIGATION......Page 261
RESULTS......Page 262
DISCUSSION......Page 270
NOTES......Page 274
ACKNOWLEDGMENTS......Page 275
REFERENCES......Page 276
GOVERNANCE AND BEHAVIOR IN NONPROFITS: ANALYSIS OF URUGUAYAN HEALTH CARE ORGANIZATIONS......Page 281
INTRODUCTION......Page 282
URUGUAYAN HEALTH SECTOR IN THE 1980s......Page 284
TYPES OF ORGANIZATION......Page 286
BEHAVIOR OF NONPROFIT ORGANIZATIONS......Page 291
ANALYSIS OF THE URUGUAYAN CASE......Page 295
CONCLUSIONS......Page 302
NOTES......Page 303
REFERENCES......Page 304
APPENDIX. LIST OF INTERVIEWS......Page 306
PART IV: FREE TRADE AND THE ECOLOGICAL EFFECTS OF ALTERNATIVE SOCIO-ECONOMIC SYSTEMS......Page 307
CAPITALISM, ECONOMIC DEMOCRACY, AND ECOLOGICAL DESTRUCTION OF OUR PLANET......Page 309
INTRODUCTION......Page 310
THE THEORETICAL ANALYSIS......Page 311
APPENDIX: REVISION OF THE THEORY OF COMPARATIVE ADVANTAGE AND EXPLANATION OF THE 2008 WORLD CRISIS......Page 316
GENERAL CONCLUSION......Page 318
THE CASE FOR CAPITALISM: A COMMENT ON JAROSLAV VANEK’S ‘‘CAPITALISM, ECONOMIC DEMOCRACY, AND ECOLOGICAL DESTRUCTION OF OUR PLANET’’......Page 319
NOTES......Page 325
REJOINDER......Page 327