Universidad Complutense de Madrid
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Analysis of the economic differences between capitalist and labour-owned enterprises

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Fernández Guadaño, Josefina (2009) Analysis of the economic differences between capitalist and labour-owned enterprises. International Journal of Social Economics, 36 (6). pp. 679-691. ISSN 0306-8293

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Resumen

Purpose – In recent years, an increasing interest in the participative practices of the workpeople in
their companies has taken place in the European Union. Taking advantage of this situation, the
purpose of this paper is to show additional evidence of the benefits from companies with majority
worker’s capital participation as opposed to firms that do not follow this approach. Bearing in mind,
also, that Spain is the only European country with the juridical form of financial majority participation
of the workpeople, in order to recommend it in the European context according to the reached results.
Design/methodology/approach – To study whether or not there are differences in the two types of
companies, a logistic regression model is used.
Findings – In this study, results indicate that business profitability (return on assets), productivity and
equity capital coefficient are not significant variables for the purpose of determining the distinguishing
features of labour-owned firm (LOF) as against capitalist firm. The only variable of those originally
included which has turned out to be significant is the financial profitability (return on equity).
Practical implications – Initial proposal: specific European law governing investment capital of
employees.
Originality/value – The study will be useful to show the characteristics of Spanish LOFs (operating
under their own legal structure) and their benefits.
Keywords Return on capital employed, Spain, Business enterprise, Business analysis, Employees
Paper type Research paper


Tipo de documento:Artículo
Palabras clave:Return on capital employed, Spain, Business enterprise, Business analysis, Employees.
Materias:Ciencias Sociales > Economía > Administración de empresas
Ciencias Sociales > Economía > Empresas
Código ID:23477
Depositado:20 Dic 2013 09:14
Última Modificación:07 Feb 2014 11:02

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