Survivability and degeneration in employee-owned firms: evidence from France

Estrin, Saul ORCID: 0000-0002-3447-8593 and Jones, D. (1991) Survivability and degeneration in employee-owned firms: evidence from France. CEPDP (23). London School of Economics and Political Science. Centre for Economic Performance, London, UK.

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Abstract

It has been argued that employee owned firms are not a viable organizational form; either they will fail as commercial undertaking or degenerate into capitalist firms as the proportion of hired workers increases. In this paper, we assemble ''stylized facts'' on, and investigate empirically diverse hypotheses of, survivability and degeneration. Using data for French employee owned firms as we find no evidence for degeneration in the key variables, productivity, profitability or capital-intensity. However, the financial structure of these firms does become increasingly inefficient with age.

Item Type:	Monograph (Discussion Paper)
Official URL:	http://cep.lse.ac.uk
Additional Information:	© 1991 The Authors
Divisions:	Centre for Economic Performance
Subjects:	H Social Sciences > HD Industries. Land use. Labor
Date Deposited:	21 Aug 2008 16:05
Last Modified:	13 Sep 2024 19:33
URI:	http://eprints.lse.ac.uk/id/eprint/21121

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