員工參股與公司創新相關因素研究

Abstract

Historically, employee ownership has been a way to motivate and reward employees by giving them a share and a stake in the product of their work. There are many beneficial aspects to it for the firm, such as increased productivity, loyalty, and lower employee turnover. One potential benefit that has not been studied is innovation: are employee owners more productive in that area as well? Also, despite a large amount of inquiry into the causes of innovation, employee ownership as such has never been considered, hence the need for this study. This research aims to look at employee ownership as a determinant of innovation, as well as how long it takes for employee ownership to result in innovation, and how the effect and the time lag vary by industry. A panel data regression model was built with employee ownership as a determinant of innovation, with innovation measured by patents and the value of intangible assets. The results were did not show that employee ownership is a determinant of innovation; they were mainly negative or insignificant. Also, the limited data only allowed for the chemical industry to be analyzed, resulting in mainly negative results. Time lags could not be measured.

Historically, employee ownership has been a way to motivate and reward employees by giving them a share and a stake in the product of their work. There are many beneficial aspects to it for the firm, such as increased productivity, loyalty, and lower employee turnover. One potential benefit that has not been studied is innovation: are employee owners more productive in that area as well? Also, despite a large amount of inquiry into the causes of innovation, employee ownership as such has never been considered, hence the need for this study. This research aims to look at employee ownership as a determinant of innovation, as well as how long it takes for employee ownership to result in innovation, and how the effect and the time lag vary by industry. A panel data regression model was built with employee ownership as a determinant of innovation, with innovation measured by patents and the value of intangible assets. The results were did not show that employee ownership is a determinant of innovation; they were mainly negative or insignificant. Also, the limited data only allowed for the chemical industry to be analyzed, resulting in mainly negative results. Time lags could not be measured.