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EFES NEWSLETTER - FEBRUARY 2024
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Impact
of employee share ownership on
Social
and Environmental Performance
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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.
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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:
https://www.efesonline.org/PRESS
REVIEW/2024/January.htm
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A
political roadmap for employee ownership in Europe
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