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The influence of employee ownership and employee board representation on firm performance : Evidence from French listed firms

Roeterdink, M. (2018) The influence of employee ownership and employee board representation on firm performance : Evidence from French listed firms.

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Abstract:In this study, the relationship between employee ownership, employee (shareholder) board representation and firm performance is examined in a French context. Based on a sample of 129 firms listed on the CAC All-Tradable for the period 2014 to 2016, ordinary least squares (OLS) regression analysis is conducted. The results show a positive impact of employee ownership on the accounting-based measures of firm performance. On the other hand, there is no consistent evidence that the presence of employee representatives and employee shareholder representatives on the board influences firm performance. Furthermore, this study finds no evidence that employee shareholder board representation moderates the relationship between employee ownership and firm performance. To test the endogeneity problem, an additional regression with one-year lagged independent and control variables is conducted. The results are consistent with those of the other regression, suggesting that employee ownership influences firm performance and not vice versa. Keywords: employee ownership, employee shareholders, employee board representation, firm performance, France.
Item Type:Essay (Master)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:Business Administration MSc (60644)
Link to this item:http://purl.utwente.nl/essays/75052
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