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Title: Psychological ownership and organizational optimism amid China's corporate transformation : effects of an employee ownership scheme and a management-dominated board
Authors: Chiu, WCK 
Hui, CC
Lai, GWF
Keywords: Employee stock ownership plan
The People's Republic of China
Enterprise reform
Human resource management
Issue Date: 2007
Publisher: Routledge, Taylor & Francis Group
Source: International journal of human resource management, 2007, v. 18, no. 2, p. 303-320 How to cite?
Journal: International journal of human resource management 
Abstract: Ownership reform was introduced to Chinese state-owned enterprises in the early 1990s, to allow employees to own a share of their enterprises and to bring changes to the underlying structure of governance. However, effectiveness of this reform has yet to be ascertained. This study examines the effects of the new employee stock ownership scheme and board compositions on the attitudes employees hold towards their jobs and organizations, as well as their perceptions of ownership. We developed a theoretical model on how participation in a stock ownership scheme (an employee's characteristic) and the composition of the board of governance (a firm characteristic) may be linked to job satisfaction and, in turn, to outcome variables such as psychological ownership and organizational optimism. This model was tested on 510 employees randomly sampled from ten stock-holding enterprises in urban Shanghai. Results indicate that participation in a stock ownership scheme has a positive effect on attitudes towards ownership, but that a board dominated by senior managers leads to gloomy perception of a firm's future. These effects were partially mediated by the satisfaction that employees felt in their jobs. The implications of these findings for management practices in China are discussed.
ISSN: 0958-5192
EISSN: 1466-4399
DOI: 10.1080/09585190601102539
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