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 Impact of employee share ownership on
                                Social and Environmental Performance

New research outcomes due to a team of Dutch researchers - Geert Braam, Erik Poutsma, Roel Schouteten and Beatrice van der Heijden - are just released, based on multiple databases. It is about employee share ownership and Corporate Social and Environmental Performance.

The findings show positive and significant lagged effects of share ownership plans on Corporate Social Performance (CSP), based on European panel data.

The findings also show that the positive effect of broad-based employee share ownership on CSP is magnified when the employees own a larger stake of the company, indicating that employee share ownership increases a company's orientation on long-term sustainable value creation.

These findings suggest that formal co-ownership may create collective feelings of longer-term psychological ownership and commitment. The resulting stronger involvement of employees strengthens their interests to protect the firm from threats to reputation in terms of CSP.

These findings suggest also that employee share ownership increases a company's long-term internal stakeholder orientation with an impact on outcomes, over and above economic performance only.

Full publication: 
Employee Financial Participation and Corporate Social and Environmental Performance:
Evidence from European Panel Data

Press review
A selection of 18 remarkable articles in 6 countries in January 2024: Germany, Spain, France, Netherlands, United Kingdom, United States.
Germany: The new Future Financing Act is in force since January 1st to promote employee share ownership.
Spain: New employee share plan for Repsol.
France: CFDT Union wants to strengthen employee share ownership practices in France. Workers' cooperatives are still the most effective way for business transmission to employees in France. CFE-CGC Union takes stock of 16 years of action for employee share ownership at Orange.
Netherlands: The multiple forms of employee share ownership and financial participation in the Netherlands.
UK: Employee ownership is an ethical way to exit your business. Thanks to the Employee Ownership Trust scheme, every day a new SME is transferred to employees. This month, among others, the case of: Westbrook Metals, Wyatt Marketing, Accept Cards Payments, Helensburgh Toyota, Optagon Roofing, Milestone Creative Agency, Bain and Gray Recruitment, Action Communications.
USA: ESOP (Employee Stock Ownership Plan) and ESPP (Employee Share Purchase Plan) are the two main forms of employee share plans in the world, - which differences? DH Technologies switches to an ESOP plan.

The full press review is available on:


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   With best regards



Marc Mathieu
Secretary General
Avenue Voltaire 135, B-1030 Brussels
Tel: +32 (0)2 242 64 30 - Fax: +32 (0)2 791 96 00
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EFES' objective is to act as the umbrella organization of employee owners, companies and all persons, trade unions, experts, researchers, institutions looking to promote employee share ownership and participation in Europe.