Worker information and firm disclosure. Analysis on French linked employer employee data

Parution :

Industrial and Labor Relations Review, vol.66 (2), avril 2013

Auteur(s) :

Antoine Rebérioux, Corinne Perraudin, Héloïse Petit en collaboration avec Andrea Bassanini, Thomas Breda et Eve Caroli

Information disclosure requirements significantly increased in French listed
companies in the early 2000s, converging toward the U.S./U.K. stock market standards.
Following the burgeoning literature on relations between corporate governance and labor,
we investigate the consequences of this process regarding worker information : does more
information for shareholders mean more information for workers ? We take advantage of a
French (representative) establishment survey that generates linked ‘employer–employee’ data
at two points in time, 1998 and 2004. Our results strongly suggest that worker information
has improved in listed companies but not in private ones, as an externality of the
financialization process. We find however that this extra information is only partially
correlated with greater employee satisfaction, as measured through the perception of fair
recognition by supervisors.