Do investments in human capital lead to employee share ownership? Evidence from French establishments.

Investments in human capital can create a hold-up problem whereby both employers and employees exploit the bargaining weaknesses of the other. Employee share ownership (ESO) can mitigate this hold-up problem because it can align interests, develop loyalty, signal good-will and lock in employees. Previous studies have shown positive relationships between company investments in human capital and the use of ESO consistent with this argument but have been unable to identify the direction of causality. Using panel data from the French REPONSE survey, the findings indicate that significant and continuous investments in human capital take place prior to the implementation of ESO

Patterns of Employee Particpation and Industrial Democracy in UK ESOPs

This paper examines the institutional characteristics of UK ESOPs and considers the extent to which ESOPs extend employee participation and industrial democracy. It is suggested that ESOPs in themselves do not extend industrial democracy. Instead patterns of employee participation are substantially determined by the goals of those primarily responsible for establishing the ESOP. Three constellations of ESOPs are discerned on the basis of their participative characteristics: `technical ESOPs' where there is little or no development of industrial democracy; `paternalist ESOPs' which tend to develop individualistic forms of employee participation; and `representative ESOPs' where new institutions are created to give some opportunity for involvement of employee representatives in top decisions.

Employee Share Ownership Plans: A Review

This paper reviews the main strands of research on employee share ownership over the last forty years. It considers research findings in the literature on types of share ownership, the incidence of share ownership plans, the ‘determinants’ of the use of share plans by companies, influences upon employee participation in share plans, the effect of share ownership on employee attitudes and behaviour, the effect on company performance, and the relationship between share ownership plans and other forms of employee participation. The paper does not provide a comprehensive review of the literature on these topics: instead it highlights the main findings that have emerged in the literature to date, and suggests some avenues for future research. It is suggested that majority worker ownership is different in character and effects from ‘mainstream’ minority employee share plans in large companies but the literature has tended to conflate the two. It is argued that future research needs to distinguish the various forms of employee share ownership if the impact of share ownership is to be more precisely calibrated

Time Dependent Clustering Analysis of the Second BATSE Gamma-Ray Burst Catalog

A time dependent two-point correlation-function analysis of the BATSE 2B catalog finds no evidence of burst repetition. As part of this analysis, we discuss the effects of sky exposure on the observability of burst repetition and present the equation describing the signature of burst repetition in the data. For a model of all burst repetition from a source occurring in less than five days we derive upper limits on the number of bursts in the catalog from repeaters and model-dependent upper limits on the fraction of burst sources that produce multiple outbursts.Comment: To appear in the Astrophysical Journal Letters, uuencoded compressed PostScript, 11 pages with 4 embedded figure

AI Gamma-Ray Burst Classification: Methodology/Preliminary Results

Artificial intelligence (AI) classifiers can be used to classify unknowns, refine existing classification parameters, and identify/screen out ineffectual parameters. We present an AI methodology for classifying new gamma-ray bursts, along with some preliminary results.Comment: 5 pages, 2 postscript figures. To appear in the Fourth Huntsville Gamma-Ray Burst Symposiu

BATSE Sky Exposure

Angular sky exposure is presented for a number of published BATSE gamma-ray burst catalogs. A new algorithm was required due to telemetry gaps resulting from onboard tape recorder failures; the new algorithm improves the 1B Catalog exposure calculation. The most influential effects limiting BATSE's exposure are (1) deadtime due to triggering, (2) sky blockage by the Earth, and (3) trigger disabling when the spacecraft is in the SAA and over other specific Earth locations. Exposure has improved during the CGRO mission as a result of decreased Solar flares and magnetospheric particle events.Comment: 5 pages, 1 postscript figure. To appear in the Fourth Huntsville Gamma-Ray Burst Symposiu

Evolution of the Low-Energy Photon Spectra in Gamma-Ray Bursts

We report evidence that the asymptotic low-energy power law slope alpha (below the spectral break) of BATSE gamma-ray burst photon spectra evolves with time rather than remaining constant. We find a high degree of positive correlation exists between the time-resolved spectral break energy E_pk and alpha. In samples of 18 "hard-to-soft" and 12 "tracking" pulses, evolution of alpha was found to correlate with that of the spectral break energy E_pk at the 99.7% and 98% confidence levels respectively. We also find that in the flux rise phase of "hard-to-soft" pulses, the mean value of alpha is often positive and in some bursts the maximum value of alpha is consistent with a value > +1. BATSE burst 3B 910927, for example, has a alpha_max equal to 1.6 +/- 0.3. These findings challenge GRB spectral models in which alpha must be negative of remain constant.Comment: 12 pages (including 6 figures), accepted to Ap

Web-based system for assessing risk factors for falls in community-dwelling elderly people using the Analytic Hierarchy Process

Falls occur frequently among older people and represent the most common cause of injury-related morbidity and mortality in later life. Preventing falls is an important way to reduce injuries, hospitalizations, and injury-related morbidity and mortality among older people. The research literature has identified hundreds of risk factors for falls among elderly people. Prioritizing risk factors for falls is useful for designing effective and efficacious prevention programs. The aim of this study was to use the Analytic Hierarchy Process to develop a hierarchy of risk factors for falls based on the knowledge and experience of experts working in this field

BATSE Gamma-Ray Burst Line Search: V. Probability of Detecting a Line in a Burst

The physical importance of the apparent discrepancy between the detections by pre-BATSE missions of absorption lines in gamma-ray burst spectra and the absence of a BATSE line detection necessitates a statistical analysis of this discrepancy. This analysis requires a calculation of the probability that a line, if present, will be detected in a given burst. However, the connection between the detectability of a line in a spectrum and in a burst requires a model for the occurrence of a line within a burst. We have developed the necessary weighting for the line detection probability for each spectrum spanning the burst. The resulting calculations require a description of each spectrum in the BATSE database. With these tools we identify the bursts in which lines are most likely to be detected. Also, by assuming a small frequency with which lines occur, we calculate the approximate number of BATSE bursts in which lines of various types could be detected. Lines similar to the Ginga detections can be detected in relatively few BATSE bursts; for example, in only ~20 bursts are lines similar to the GB 880205 pair of lines detectable. Ginga reported lines at ~20 and ~40 keV whereas the low energy cutoff of the BATSE spectra is typically above 20 keV; hence BATSE's sensitivity to lines is less than that of Ginga below 40 keV, and greater above. Therefore the probability that the GB 880205 lines would be detected in a Ginga burst rather than a BATSE burst is ~0.2. Finally, we adopted a more appropriate test of the significance of a line feature.Comment: 20 pages, AASTeX 4.0, 5 figures, Ap.J. in pres