The determinants of investment in employee owned firms: evidence from France

Estrin, Saul ORCID: 0000-0002-3447-8593 and Jones, Derek C. (1992) The determinants of investment in employee owned firms: evidence from France. CEP Discussion Papers (CEPDP0087). London School of Economics and Political Science. Centre for Economic Performance, London, UK.

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Abstract

In this paper we use a large panel data set to test competing hypotheses about investment in employee owned firms (EOFs), especially the view that EOFs will invest less. Most of the variables stressed by labour-management theorists as inhibiting investment are found not to play any role in practice, but the volume of investment is found to be positively associated with the share of investment funded externally. This highlights the crucial role of external finance in supporting investments in EOFs.

Item Type:	Monograph (Discussion Paper)
Official URL:	https://cep.lse.ac.uk/_new/publications/discussion...
Additional Information:	© 1992 The Author(s)
Divisions:	LSE
Subjects:	H Social Sciences > HC Economic History and Conditions H Social Sciences > HD Industries. Land use. Labor
JEL classification:	G - Financial Economics > G0 - General > G00 - General
Date Deposited:	27 Feb 2024 12:57
Last Modified:	01 Apr 2024 08:00
URI:	http://eprints.lse.ac.uk/id/eprint/121675

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