Acquiring talent: does ownership help?
Hyväksytty kirjoittajan käsikirjoitus - 841 KB
https://creativecommons.org/licenses/by-nc/4.0/
Pysyvä osoite
Kuvaus
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Purpose
The study examines individual- and firm-level factors that influence the likelihood of receiving an ownership stake in the firm during recruitment.
Design/methodology/approach
We employ a logistic regression model to identify factors associated with the likelihood of acquiring an ownership share in the year of recruitment. We use unique linked owner–employer–employee data from Finland for the years 2007–2019. In addition to traditional individual-level characteristics, we control for previous employment in high-productivity firms and a wide array of variables related to the current firm.
Findings
The results suggest that ownership is used to attract a skilled workforce and sometimes to compensate for less competitive salaries. Ownership is offered during recruitment to a narrow group of individuals, typically highly educated, by small and young startup firms operating in the knowledge-intensive service sector. The firms are also often growing rapidly. The owner-employees, currently working as managers or professionals, have previously worked in high-productivity firms, thus enabling inter-firm knowledge transfer. They also appear to be more risk tolerant than employees in general.
Originality/value
This study is one of the first to provide empirical evidence on individual-targeted employee ownership offers. Most previous studies have examined broad-based employee stock ownership plans and utilised survey data. Our study uses rich registry data instead.
Emojulkaisu
ISBN
ISSN
2514-765X
2514-7641
2514-7641
Aihealue
Kausijulkaisu
Journal of participation and employee ownership|8
OKM-julkaisutyyppi
A1 Alkuperäisartikkeli tieteellisessä aikakauslehdessä (vertaisarvioitu)