Employee share ownership and human resource management: between shareholder and partnership approaches to governance

Using a novel dataset built from the REPONSE 2017 and the FEAS databases, this article highlights the links between employee ownership, HRM practices and industrial relations in French listed companies. We explore the effects of employee ownership intensity (proportion of capital held) and extent (p...

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Published inRevue finance, contrôle, stratégie : FCS Vol. NS-16
Main Authors SALESINA, Marc, SCHMITT, Valentin, STÉVENOT, Anne
Format Journal Article
LanguageEnglish
Published 2024
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Abstract Using a novel dataset built from the REPONSE 2017 and the FEAS databases, this article highlights the links between employee ownership, HRM practices and industrial relations in French listed companies. We explore the effects of employee ownership intensity (proportion of capital held) and extent (proportion of employee shareholders), as well as the effects of their interaction. Our results suggest contrasting governance logics depending on whether we consider the intensity or the extent of employee ownership, between a shareholder approach on the one hand and a partnership approach on the other. À l’aide d’un jeu de données inédit construit à partir de l’enquête REPONSE 2017 et de la base de la FEAS, cet article met en évidence les liens entre actionnariat salarié, pratiques de GRH et relations professionnelles dans les entreprises cotées françaises. Nous explorons les effets de l'intensité de l'actionnariat salarié (proportion du capital détenue au titre de l'actionnariat) et de son étendue (proportion de salariés actionnaires ou taux de démocratisation), ainsi que l'interaction entre ces deux dimensions. Nos résultats mettent notamment en évidence des logiques de gouvernance contrastées selon que l’on considère l’intensité (proportion du capital détenu) ou l’étendue (proportion de salariés actionnaires) de l'AS, entre approches actionnariale d’une part et partenariale de l’autre.
AbstractList Using a novel dataset built from the REPONSE 2017 and the FEAS databases, this article highlights the links between employee ownership, HRM practices and industrial relations in French listed companies. We explore the effects of employee ownership intensity (proportion of capital held) and extent (proportion of employee shareholders), as well as the effects of their interaction. Our results suggest contrasting governance logics depending on whether we consider the intensity or the extent of employee ownership, between a shareholder approach on the one hand and a partnership approach on the other. À l’aide d’un jeu de données inédit construit à partir de l’enquête REPONSE 2017 et de la base de la FEAS, cet article met en évidence les liens entre actionnariat salarié, pratiques de GRH et relations professionnelles dans les entreprises cotées françaises. Nous explorons les effets de l'intensité de l'actionnariat salarié (proportion du capital détenue au titre de l'actionnariat) et de son étendue (proportion de salariés actionnaires ou taux de démocratisation), ainsi que l'interaction entre ces deux dimensions. Nos résultats mettent notamment en évidence des logiques de gouvernance contrastées selon que l’on considère l’intensité (proportion du capital détenu) ou l’étendue (proportion de salariés actionnaires) de l'AS, entre approches actionnariale d’une part et partenariale de l’autre.
Author SALESINA, Marc
SCHMITT, Valentin
STÉVENOT, Anne
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