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What are profit sharing enterprises?
PSEs can take a variety of forms – but common characteristic is that residual claims are held by people other than outside shareholders.
Profit-sharing enterprises
‘Any enterprise that distributes to its workforce, or to any group other than capital holders, a share of the residual is engaged in profit-sharing’
Could include joint stock companies and a range of others .
What is a management-owned firm?
What is a professional partnership?
What is a worker ownership?
What is a worker co-operative?
What factors influence ability of PSEs to survive?W
When are PSEs more likely?
Explain the issue of monitoring effort in PSE
Explain the issue of leverage in PSE
Explain the issue of bargaining in PSE
Explain the issue of employment size of PSE (labour managed firm)
Fung (1994) empirical insights
Kruse (1992) - EJ
Note 
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