Joseph R. Blasi

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In this paper, we analyse the effects of the massive Russian privatisation programme on the ownership of Russian firms and on the behaviour of formerly state owned enterprises. A large random sample of Russian firms is used to investigate the emerging ownership structures, patterns of control and enterprise behaviour. We find that workers have become the(More)
In an environment where shareholder rights cannot be enforced, management might choose to honour these rights out of self interest. This paper presents evidence from a sample of the 140 largest Russian joint stock companies, of which only a minority of firms do honour shareholder rights. These firms tend to have higher valuations on the equity market. On(More)
This paper examines whether broad-based worker ownership and profit sharing could be expanded to the entire economy. First, it provides a brief overview of the problem and the rationale for the solution proposed. The problem is that capital ownership and capital income are highly concentrated in a very small group in American society. This suggests that a(More)
Increased equity participation by employees has attracted substantial interest for its potential to affect both economic outcomes (e.g., worker and firm performance) and social outcomes (e.g., wealth and income inequality). This paper summarizes the findings from over 50 large-sample empirical studies that have been done on employee ownership and(More)
What enables some employee ownership firms to overcome the free rider problem and motivate employees to improve performance? This study analyzes the role of human resource policies in the performance of employee ownership companies, using employee survey data from 14 companies and a national sample of employee-owners. Between-firm comparisons of 11 ESOP(More)
Embracing finance, economics, operations research, and computers, this book applies modern techniques of analysis and computation to find combinations of securities that best meet the needs of private or institutional investors. Financial economics making sense of information in financial markets, Brian Kettell, 2001, Business & Economics, 508 pages. In the(More)
This study seeks to increase our understanding of worker reactions to shirking by analyzing two new questions on shirking from the 2002 General Social Science Survey (GSS). We developed the questions in order to illuminate the factors that enable some shared capitalist enterprises to overcome the free rider or 1/N dilemma. Our guiding principle is the(More)
This paper analyzes the linkages among group incentive methods of compensation (broad-based employee ownership, profit sharing, and stock options), labor practices, worker assessments of workplace culture, turnover, and firm performance in firms that applied to the " 100 Best Companies to Work For in America " competition from 2005 to 2007. Although(More)
We analyze the effects of employee ownership, profit and gain sharing, and broad-based stock options (―shared capitalism‖) on employee attitudes, turnover, and performance among applicants to the ―100 Best Companies to Work For in America‖ competition. The dataset includes company surveys filled out by 780 firms for 1312 firm-year observations over 2005 to(More)