Arbeitspapier
The productivity effects of profit sharing, employee ownership, stock option and team incentive plans: Evidence from korean panel data
We report the first results for Korean firms on the incidence, diffusion, scope and effects of diverse employee financial participation schemes, such as Profit Sharing Plans (PSPs), Employee Stock Ownership Plans (ESOPs), Stock Option Plans (SOPs) and Team Incentive Plans (TIPs). In do doing, we assemble important new panel data by merging data from a survey of all Korean firms listed on Korean Stock Exchange which enjoys an unusually high response rate of 60 percent with accounting data from their corporate proxy statements. Our estimated fixed effect models of production functions reveal consistently that the introduction of a PSP or a TIP will lead to a significant increase in productivity (about 10 percent) whereas no such evidence found for ESOPs or SOPs. We also find that the productivity payoff appears to be more long-lasting for PSPs than for TIPs. Finally, our fixed-effect estimates suggest that PSPs and TIPs tend to be substitutes rather than complements in their productivity effects.
- Language
-
Englisch
- Bibliographic citation
-
Series: IZA Discussion Papers ; No. 5111
- Classification
-
Wirtschaft
Personnel Economics: Compensation and Compensation Methods and Their Effects
Compensation Packages; Payment Methods
Human Capital; Skills; Occupational Choice; Labor Productivity
Labor-Management Relations; Industrial Jurisprudence
Economywide Country Studies: Asia including Middle East
- Subject
-
profit sharing
employee stock ownership
team incentive
stock option
productivity
Korea
- Event
-
Geistige Schöpfung
- (who)
-
Kato, Takao
Lee, Ju Ho
Ryu, Jang-soo
- Event
-
Veröffentlichung
- (who)
-
Institute for the Study of Labor (IZA)
- (where)
-
Bonn
- (when)
-
2010
- Handle
- URN
-
urn:nbn:de:101:1-201009302480
- Last update
-
10.03.2025, 11:41 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Kato, Takao
- Lee, Ju Ho
- Ryu, Jang-soo
- Institute for the Study of Labor (IZA)
Time of origin
- 2010
Other Objects (12)
The productivity effects of profit sharing, employee ownership, stock option and team incentive plans: evidence from korean panel data
The productivity effects of profit sharing, employee ownership, stock option and team incentive plans: evidence from korean panel data
Employee Stock Ownership vs. Profit Sharing
Worker attitudes towards employee ownership, profit sharing and variable pay
Employee Participation in Profit and Ownership - Impact on Work Efficiency
Employee Stock Ownership
Sharing ownership via employee stock ownership
Essays on Employee Ownership
Employee stock ownership and employee performance: Why does ownership affect individual performance?
Towards Economic Democracy and Social Justice: Profit Sharing, Co-Determination, and Employee Ownership
Does employee ownership improve performance?
Does employee ownership improve performance?
The productivity effects of profit sharing, employee ownership, stock option and team incentive plans: evidence from korean panel data
The productivity effects of profit sharing, employee ownership, stock option and team incentive plans: evidence from korean panel data
Employee Stock Ownership vs. Profit Sharing
Worker attitudes towards employee ownership, profit sharing and variable pay
Employee Participation in Profit and Ownership - Impact on Work Efficiency
Employee Stock Ownership
Sharing ownership via employee stock ownership
Essays on Employee Ownership
Employee stock ownership and employee performance: Why does ownership affect individual performance?
Towards Economic Democracy and Social Justice: Profit Sharing, Co-Determination, and Employee Ownership
Does employee ownership improve performance?
Does employee ownership improve performance?
The productivity effects of profit sharing, employee ownership, stock option and team incentive plans: evidence from korean panel data
The productivity effects of profit sharing, employee ownership, stock option and team incentive plans: evidence from korean panel data
Employee Stock Ownership vs. Profit Sharing
Worker attitudes towards employee ownership, profit sharing and variable pay
Employee Participation in Profit and Ownership - Impact on Work Efficiency
Employee Stock Ownership
Sharing ownership via employee stock ownership
Essays on Employee Ownership
Employee stock ownership and employee performance: Why does ownership affect individual performance?
Towards Economic Democracy and Social Justice: Profit Sharing, Co-Determination, and Employee Ownership
Does employee ownership improve performance?