This paper seeks to contribute to the current debate about corporate governance and work relations in two ways: it extends the analysis to include employees’ subjective well-being and it considers a wider range of ownership models using Hansmann's typology as a guide. It argues that a key input into subjective well-being is provided by the scope to undertake work that is intrinsically as well as extrinsically rewarding. Rosen's theory of compensating wage differences is used as a lens to examine the problems of contracting over the intrinsic and extrinsic benefits of jobs as the former are largely intangible, whereas the latter are more easily codified and enforced. This asymmetry gives rise to moral hazard problems, which make the former more dependent on trust. Ownership models help to resolve this because they provide clear signals about an employer's value priorities, and its likely adherence to them after hiring. The study uses data from the British Workplace Employment Relations Survey. The results suggest that ownership models do indeed facilitate different trade-offs between intrinsic and extrinsic rewards that may be beneficial to many workers, warranting more attention to alternative forms of ownership to promote greater employee well-being.

中文翻译：

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英国的组织所有权和员工福利模式

本文试图以两种方式为当前关于公司治理和工作关系的辩论做出贡献：将分析扩展到包括员工的主观幸福感，并使用汉斯曼的类型学作为指导考虑更广泛的所有权模型。它认为，主观幸福感的关键输入是由从事内在和外在奖励的工作的范围提供的。罗森的工资差异补偿理论被用作考察工作的内在和外在利益合同问题的一个镜头，因为前者在很大程度上是无形的，而后者更容易编纂和执行。这种不对称导致了道德风险问题，使前者更加依赖信任。所有权模型有助于解决这个问题，因为它们提供了关于雇主价值优先事项的明确信号，以及雇主在雇用后可能遵守这些优先事项。该研究使用来自英国工作场所雇佣关系调查的数据。结果表明，所有权模式确实促进了内在和外在奖励之间的不同权衡，这可能对许多工人有益，需要更多地关注替代所有权形式，以促进更好的员工福利。