Three dimensions of employees acquiring shares in their firms: Personal characteristics, motives and type of ownership

This study is based on a survey and interviews in six Icelandic firms in which share purchases by employees have transpired. The focus is on employees’ characteristics and motives in becoming shareowners as well as the reasons for non-participation. The article’s contribution is to add to the theory...

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Bibliographic Details
Published inEconomic and industrial democracy Vol. 42; no. 3; pp. 737 - 765
Main Authors Faigen, Benjamin, Mygind, Niels, Sigurjonsson, Throstur Olaf, Arnardottir, Audur Arna
Format Journal Article
LanguageEnglish
Published London, England SAGE Publications 01.08.2021
Sage Publications Ltd
Subjects
Companies
Employee ownership
Employees
Individual differences
Objectives
Owners
Personal characteristics
Variants
employee motives
employee ownership
Employee characteristics
financial participation
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Summary:This study is based on a survey and interviews in six Icelandic firms in which share purchases by employees have transpired. The focus is on employees’ characteristics and motives in becoming shareowners as well as the reasons for non-participation. The article’s contribution is to add to the theory and empirical evidence regarding the individual-level antecedents to employee ownership across both majority and minority variants. The results reveal that income, tenure and age influence ownership status. There is some support for expectations that employees place greater emphasis on stakeholder goals and collective goals in majority employee-owned firms and on financial goals in minority employee-owned firms. Employees were hindered from becoming owners due to a lack of funds or internal exclusionary barriers.
ISSN:0143-831X
1461-7099
DOI:10.1177/0143831X18805847