Profit Sharing and Productivity: Further Evidence from the Chemicals Industry
Profit sharing potentially augments productivity by affecting motivational variables that promote group norms favoring effort. A factor augmentation model of production is developed to measure the impact of profit sharing on productivity using a test industry in U.S. manufacturing. The model is appl...
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| Published in | Industrial relations (Berkeley) Vol. 33; no. 4; pp. 452 - 466 |
|---|---|
| Main Author | |
| Format | Journal Article |
| Language | English |
| Published |
Oxford, UK
Blackwell Publishing Ltd
01.10.1994
Wiley Subscription Services, Inc |
| Subjects | |
| Online Access | Get full text |
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| Abstract | Profit sharing potentially augments productivity by affecting motivational variables that promote group norms favoring effort. A factor augmentation model of production is developed to measure the impact of profit sharing on productivity using a test industry in U.S. manufacturing. The model is applied using alternative exogenous and endogenous specifications for the profit‐sharing incentive variable. The results are consistent with those obtained in other recent studies and suggest that profit sharing results in improvements in productivity. |
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| AbstractList | Profit sharing potentially augments productivity by affecting motivational variables that promote group norms favoring effort. A factor augmentation model of production is developed to measure the impact of profit sharing on productivity using a test industry in US manufacturing. The model is applied using alternative exogenous and endogenous specifications for the profit-sharing incentive variable. The results are consistent with those obtained in other recent studies and suggest that profit sharing results in improvements in productivity. Profit sharing potentially augments productivity by affecting motivational variables that promote group norms favoring effort. A factor augmentation model of production is developed to measure the impact of profit sharing on productivity using a test industry in U.S. manufacturing. The model is applied using alternative exogenous and endogenous specifications for the profit‐sharing incentive variable. The results are consistent with those obtained in other recent studies and suggest that profit sharing results in improvements in productivity. |
| Author | SHEPARD III, EDWARD M. |
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| Cites_doi | 10.2307/2553878 10.1086/296060 10.1111/j.1467-6435.1980.tb02623.x 10.2307/1910099 10.1177/001979399104400304 10.2307/2234849 |
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| DOI | 10.1111/j.1468-232X.1994.tb00351.x |
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| Notes | ArticleID:IREL452 ark:/67375/WNG-X8309H5V-Z istex:D54BAC842D142715A9D8FFCE14810AA2B4162593 Department of Economics, Le Moyne College. The author would like to thank Professors Barry Bluestone, Donald Richtar, David Belsley, and Joseph Quinn for their helpful comments on the research design and earlier versions of this paper. Professors Douglas Kruse, Thomas Clifton, and Paul Blackley provided helpful comments on later versions. ObjectType-Article-2 SourceType-Scholarly Journals-1 ObjectType-Feature-1 content type line 23 |
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| References_xml | – year: 1985 – volume: 34 start-page: 784 issue: 4 year: 1966 end-page: 95 article-title: Specification and Estimation of Cobb‐Douglas Production Function Models publication-title: Econometrica – year: 1984 – volume: 62 start-page: 777 issue: 5 year: 1972 end-page: 95 article-title: Production, information Costs, and Economics Organisation publication-title: American Economic Review – volume: 33 start-page: 100 issue: 1 year: 1980 end-page: 21 article-title: Productivity, Efficiency, Incentives, and Employee Participation: Some Preliminary Results from West Germany publication-title: Kyklos – start-page: 45 year: 1982 end-page: 64 – volume: 102 start-page: 24 issue: 410 year: 1992 end-page: 36 article-title: Profit Sharing and Productivity, Microeconomic Evidence from the United States publication-title: Economic Journal – start-page: 279 year: 1967 end-page: 85 – year: 1987 – year: 1970 – volume: 44 start-page: 454 year: 1991 end-page: 67 article-title: The Impact on Absenteeism and Quits of Profit‐Sharing and Other Forms of Employee Participation publication-title: Industrial and Labor Relations Review – volume: 52 start-page: 449 year: 1985 end-page: 65 article-title: Participation, Profit Sharing, Worker Ownership and Efficiency in Italian Producer Cooperatives publication-title: Economica – start-page: 15 year: 1990 end-page: 88 – volume: 52 start-page: 409 issue: 4 year: 1979 end-page: 506 article-title: Rights and Production Functions: An Application to Labor‐Managed Firms and Codeterminism publication-title: Journal of Business – year: 1990 – ident: e_1_2_1_7_1 doi: 10.2307/2553878 – ident: e_1_2_1_6_1 doi: 10.1086/296060 – start-page: 279 volume-title: The Theory and Empirical Analysis of Production; Studies in Income and Wealth year: 1967 ident: e_1_2_1_5_1 contributor: fullname: Griliches Z. – volume-title: The General Theory of Labour‐Managed Market Economies year: 1970 ident: e_1_2_1_13_1 contributor: fullname: Vanek J. – start-page: 15 volume-title: Paying for Productivity: A Look at the Evidence year: 1990 ident: e_1_2_1_10_1 contributor: fullname: Mitchell Daniel J. B. – volume-title: The Share Economy year: 1984 ident: e_1_2_1_14_1 contributor: fullname: Weitzman Martin L. – ident: e_1_2_1_4_1 doi: 10.1111/j.1467-6435.1980.tb02623.x – start-page: 45 volume-title: Participatory and Self‐Managed Firms year: 1982 ident: e_1_2_1_9_1 contributor: fullname: Levin Henry – ident: e_1_2_1_17_1 doi: 10.2307/1910099 – volume: 62 start-page: 777 issue: 5 year: 1972 ident: e_1_2_1_2_1 article-title: Production, information Costs, and Economics Organisation publication-title: American Economic Review contributor: fullname: Alchian Armen A. – ident: e_1_2_1_11_1 – volume: 44 start-page: 454 year: 1991 ident: e_1_2_1_16_1 article-title: The Impact on Absenteeism and Quits of Profit‐Sharing and Other Forms of Employee Participation publication-title: Industrial and Labor Relations Review doi: 10.1177/001979399104400304 contributor: fullname: Wilson Nicholas – volume-title: U.S. Economic Report to the President year: 1985 ident: e_1_2_1_12_1 – volume-title: Paying for Productivity: A Look at the Evidence year: 1990 ident: e_1_2_1_3_1 contributor: fullname: Blinder Alan S. – ident: e_1_2_1_8_1 doi: 10.2307/2234849 – volume-title: Paying for Producitivity: A Look at the Evidence year: 1990 ident: e_1_2_1_15_1 contributor: fullname: Witzman Martin L. |
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| SubjectTerms | Chemical industry Compensation Cooperation Impacts Incentive plans Manufacturing Motivation Production functions Productivity Profit sharing Profit sharing plans Profits Revenue sharing Studies Workers |
| Title | Profit Sharing and Productivity: Further Evidence from the Chemicals Industry |
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