2026-06-08T12:21:16Zhttps://docta.ucm.es/rest/oai/requestoai:docta.ucm.es:20.500.14352/190302023-08-25T18:03:27Zcom_20.500.14352_14col_20.500.14352_15
Docta Complutense
author
Fernández Guadaño, Josefina
author
López Millán, Manuel
2023-06-17T23:55:40Z
2023-06-17T23:55:40Z
2018
0954-1748
10.1002/jid.3363
https://hdl.handle.net/20.500.14352/19030
https://doi.org/10.1002/jid.3363
This study focuses on the role of employee-owned firms (EOFs) in value creation from a stakeholder perspective. EOFs have been defined as Social Economy enterprises in Spain following guiding principles that in our opinion should empower stakeholder governance. Therefore, the impact of employee share ownership on value creation for shareholders and stakeholders has been measured on the basis of a sample of 1006 enterprises. The results reveal that EOFs have a positive and significant influence on the distribution of value in favour of the employees but not the other stakeholders. This finding, which allows us to partially accept one of the proposed hypotheses, is consistent with previous evidence that EOFs set their objectives to maximize the value obtained by the participating employees through their financial participation in the business, and not, therefore, to maximize profits.
eng
Employee-Owned Firms from a Stakeholder Perspective
journal article
URL
https://docta.ucm.es/bitstreams/69191f8c-57c0-4bc0-9ed6-50c8b3af62f1/download
File
MD5
9353ab3a60af7da3cc6e6078cd9c8387
127314
application/pdf
Employee-Owned-Ferández-Guadaño(Versión aceptada).pdf