Patterns of organizational ownership and employee well‐being in Britain
研究了不同所有权模式如何通过影响工作的内在和外在回报来影响员工主观福祉，利用英国工作场所雇佣关系调查数据，发现所有权模式有助于解决道德风险问题，促进员工福祉。
Abstract This paper seeks to contribute to the current debate about corporate governance and work relations in two ways: it extends the analysis to include employees’ subjective well‐being and it considers a wider range of ownership models using Hansmann's typology as a guide. It argues that a key input into subjective well‐being is provided by the scope to undertake work that is intrinsically as well as extrinsically rewarding. Rosen's theory of compensating wage differences is used as a lens to examine the problems of contracting over the intrinsic and extrinsic benefits of jobs as the former are largely intangible, whereas the latter are more easily codified and enforced. This asymmetry gives rise to moral hazard problems, which make the former more dependent on trust. Ownership models help to resolve this because they provide clear signals about an employer's value priorities, and its likely adherence to them after hiring. The study uses data from the British Workplace Employment Relations Survey. The results suggest that ownership models do indeed facilitate different trade‐offs between intrinsic and extrinsic rewards that may be beneficial to many workers, warranting more attention to alternative forms of ownership to promote greater employee well‐being.