Investing in Enterprises That Work for Everyone (SSIR)

Building a Solidarity Ecosystem for AI (SSIR)

How cooperatives, public institutions, and social movements can come together to intentionally build a practical, community-owned alternative to extractive AI systems. <meta property=

WSJ News Exclusive | Private-Equity Giants Back New Nonprofit Promoting Employee Ownership

More than 60 groups, including banks and pension funds, have also signed on to support Ownership Works, which aims to promote broad-based stock ownership as a means of curbing income inequality.

Private Equity Is Starting to Share With Workers, Without Taking a Financial Hit (Published 2024)

The buyout giant KKR pioneered a model of granting ownership stakes to employees at portfolio companies. Now it wants the approach to spread.

Exclusive | Blackstone to Grant Equity to Most Employees in Future U.S. Buyouts

The private-equity firm’s plan is part of a broader movement in the buyout industry to expand ownership beyond management ranks.

Database of Alternative Ownership Enterprise Investment Funds And Vehicles

Transform Finance is pleased to release a new database for investors interested in Alternative Ownership Enterprises (AOEs). Alternative Ownership Enterprises (AOEs) are firms that significantly shift economic value and decision-making power toward the non-investor stakeholders they impact, such as workers, producers, consumers, community members, or even a non-financial purpose.

Company as a Commons

What if excess wealth derived from business couldn't be privatized? Through the levers of steward-ownership, companies can protect their purpose-oriented long term mission from the maligned incentives of absentee stakeholders.

Work, Justice, and Collective Capital Institutions: Revisiting Rudolf Meidner and the Case for <span style="font-variant:small-caps;">Wage‐Earner</span> Funds

ABSTRACT This article makes the case for a specific variety of what we call Collective Capital Institutions (CCIs), by returning to the idea of Wage‐Earner Funds (WEFs) – a 1970s Swedish policy proposal designed gradually to shift ownership and control over parts of the economy to democratically controlled institutions. We identify two attractive rationales in favour of such a scheme and argue that both can fruitfully be transposed to the current worldwide economic situation. The egalitarian rationale is that WEFs could help in the pursuit of equality by giving a wider set of people a stake in collectively owned companies and a right to their profits. The democratic rationale is that WEFs redistribute not only these profits, but also the power over economic decisions made within companies. We then contrast such schemes for collective capital ownership with the similar but much more privatised proposals set out in, for instance, John Rawls's idea of a ‘property‐owning democracy’. We argue that CCIs ultimately are more likely to contribute to the development of the ‘sense of justice’ within society that is needed for a stable just society. We conclude that CCIs deserve a great deal more exploration in academic and political discussions of egalitarian economic systems.

A game of co-opetition: exploring the benefits of asset owner collaboration - Thinking Ahead Institute

It may seem like a hidden truth but the reality is that asset owners are in competition with each other. They are in competition for the best alpha ideas, the best manager products and the best research – all with the aim of improving risk-return trade-offs to increase the likelihood of meeting their liabilities. As a result, many asset owners find it difficult to collaborate, even in initiatives that may prove mutually beneficial. At the Thinking Ahead Institute’s recent Sydney roundtable event, asset owner attendees highlighted the top three barriers to successful peer collaboration: (1) difficulties being transparent; (2) lack of time and resources available; and (3) difficulties in aligning interests. At the same time, attendees agreed on the value to funds of collaborating productively on industry structure and regulation, and on a universal owner / alignment of interest agenda. 

Democratic Ownership Funds: Creating Shared Wealth and Power

Recent decades have seen a rapid and little-discussed transformation in corporate ownership structure, with vital consequences for company behaviour and inequality.

Pivot to People: It’s Time to Build the New Economy

Today’s calls for ethical, humane, responsible, regulated and beneficial technology, compounded with venture capital’s virtue signaling in…

The Effects of Mandatory Profit-Sharing on Workers and Firms: Evidence from France

Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, and business professionals.

Psychological Ownership in Financial Decisions

Policy makers have long intuitively realized the benefit of encouraging strong psychological ownership toward social programs. For example, Franklin D. Roosevelt in the 1930s purposely designed the Social Security program to include a high feeling of ownership by workers, to generate a sense of responsibility and protection from future legislation. Recent research suggests that this sense of ownership continues to be an important part of the SSA program and is a significant predictor of when retirees claim their benefits. Strong feelings of ownership also exist for other programs (e.g., Medicare) and financial services (e.g., investments), and there are significant implications of that psychological ownership on consumers’ decisions and behavior around these programs. Policy makers and marketers may wish to consider the role of interventions that affect consumers’ psychological ownership, along with feelings of trust and fairness, for such products.

Overcoming Barriers to Employee Ownership: Insights From Small and Medium-Sized Businesses

This research investigates the limited adoption of employee stock ownership plans (ESOPs) among small-to-medium sized businesses (SMBs) in the U.S. Through interviews with 30 SMB owners across various industries, we identify the key barriers to ESOP adoption as lack of time, money, and skills on the part of the owners. In doing so, the study suggests that a “shared ownership light” model, which involves sharing profits, information, and decision-making opportunities with employees, appears more feasible for SMBs than ESOPs. For SMBs that are interested in ESOP adoption, our research suggests that organizations providing employee ownership services could better assist SMBs by offering templatized models and best practices for profit-sharing plans, open-book management, and structured employee participation. The paper aims to broaden the discussion around shared ownership by considering a spectrum of options that have the potential to increase both value creation by and value-sharing among employees.

Will the AI IPO boom make S.F. richer, or wipe out what’s left of its middle class?

OPINION: Anthropic and OpenAI plan IPOs that make previous tech booms look tiny. If San Francisco wants to benefit, our leaders need far more urgency on housing, the editorial board writes.