How shared capitalism affects employee withdrawal: An econometric case study of a French-listed company

Nicolas Aubert, professeur à Aix-Marseille Université IMPGT, et Xavier Hollandts professeur à Kedge Business School Bordeaux, tous deux chercheurs associés à l’IFGE publient un article dans la revue Journal of Applied Business Research. L’article traite de l’effet positif de l’actionnariat salarié sur la rotation du personnel et l’absentéisme. Les résultats économétriques concluent que ces effets positifs ne se produisent que dans le cas d’un actionnariat salarié à long terme.

Aubert N., Hollandts X. (2015), How shared capitalism affects employee withdrawal: An econometric case study of a French-listed company, Journal of Applied Business Research, Volume 31, Number 3.

Abstract

The academic literature emphasizes that shared capitalism positively affects employees’ attitudes at work. This paper investigates that issue by testing the relationship between shared capitalism and withdrawal behaviors (turnover and absenteeism). Recent literature interprets shared capitalism as a gift exchange between employers and employees. This paper builds on that literature. The analysis, based on an econometric case study, focuses on a five-year panel dataset of more than 800 subsidiaries belonging to a unique French-listed company. Our results show that only long-term shared capitalism translates into better withdrawal behaviors.