| Abstrakt: |
Our previous findings take us straight to the next question. The empirical results in chapter 5 pointed to significantly higher output and employment growth due to the introduction of profit sharing. Productivity growth, however, was only insignificantly affected. Kraft and Ugarkovic΄s (2005) theoretical model provided an explanation: Profit sharing leads to an increase in productivity which induces firms to extend output and employment. With a declining marginal product of labour, however, the estimated productivity level might not differ very much from the one before the introduction of the sharing system.31 [ABSTRACT FROM AUTHOR] |
