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Full-Text Articles in Business
Esop Fables: The Impact Of Employee Stock Ownership Plans On Labor Disputes, Peter Cramton, Hamid Mehran, Joseph Tracy
Esop Fables: The Impact Of Employee Stock Ownership Plans On Labor Disputes, Peter Cramton, Hamid Mehran, Joseph Tracy
Peter Cramton
By the early 1990s employee stock ownership plans (ESOPs) had become as prevalent in unionized firms as in nonunionized firms. However, little research has been devoted to examining the implications of ESOPs for collective bargaining, or cross ownership more generally. In this paper, we extend the signaling model of Cramton and Tracy (1992) to allow partial ownership by the union. We demonstrate that ESOPs create incentives for unions to become weaker bargainers. As a result, the model predicts that ESOPs will lead to a reduction in strike incidence and in the fraction of labor disputes that involve a strike. We …
Building And Construction Trades Unions: Are They Built To Win?, Jeff Grabelsky
Building And Construction Trades Unions: Are They Built To Win?, Jeff Grabelsky
Jeffrey Grabelsky
[Excerpt] The evidence of labor's declining power in the economic and political arenas is increasingly clear. Despite the tenacious efforts of talented leaders over the past ten years, the labor movement has still failed to turn the proverbial cornet. Some labor leaders now believe that a dramatic change in strategic direction may be necessary to revitalize labor's fortunes. The emerging debate about labor's future touches every sector of the movement. The building and construction trades are no exception.