SURVEY OF EMPLOYEE SHARE OWNERSHIP
IN EUROPEAN COUNTRIES IN 2017
main findings of census 2017
more than 100 tables and graphs
democratization rate in various countries
list of all most remarkable companies
ordinary employees and top executives
employee representation on boards
discrimination in voting rights
and much more
just a sample but an exhaustive picture based
on the EFES database (the 2.700 European companies
gathering 95% of employment in all European
in partnership with
record year for employee share ownership in
Europe in 2017
was a new record year for employee share ownership
in Europe, with nearly 400 billion Euro held
by employees in their company or 3.20%.
86.6% of all large European companies have
employee share plans. Their number increased
by 3 to 4% on average each year since 2006,
a solid growth. The rise is back for the number
of employee shareholders, with 7.5 million
people in large European companies. If we
add one million employee shareholders in SMEs,
the total figure reaches 8.5 million.
the decline in the democratization rate of
employee share ownership has been stopped,
a remarkable result due to the positive policy
choices made in many countries.
addition, the imbalance ceased to widen between
the crisis, some European countries (including
the UK) had chosen for stronger incentive
policies, promoting employee share ownership
and long term savings as an investment for
the future. Instead of that, some other countries
(including France) had chosen to reduce public
spending and to support household consumption,
while incentives for long term savings and
for employee share ownership were sacrificed.
This had a strong impact on the democratization
rate of employee share ownership in Europe,
leading to a divorce between continental Europe
and the UK.
the negative phase from 2009 to 2013, policy
decisions are positive again in most European
countries. The democratization rate stabilized
in Europe and both in the UK and on the continent.
A rebound can even be observed in France following
the "Macron Law". This illustrates
the high elasticity of employee share ownership
to fiscal incentives in France.
addition to the whole information about employee
share ownership and employee share plans, top executives
and ordinary employees, this new Survey brings full
information about employee representation on boards
in large European companies, ownership control and
discrimination in voting rights, as well as a systematic
comparison between listed companies and majority-employee-owned
companies in Europe.
what a great work. Congratulations. That's
very helpful for our activities!"
vi invio la mia tesi magistrale sull'azionariato
dei dipendenti in Italia e vi ringrazio perché
dal vostro lavoro ho potuto prendere spunti
thanks to you and your hard work, and your
wonderful reports - I am an associate professor
now, so thank you very much for your help.
Now I am preparing this version in English,
so I try to put the most recent data."
really great work! Congratulations and thank
you. I think the survey is very helpful for
the discussion here in Germany. We will publish
it on our homepage and distribute the paper
in our network. Best wishes"
pour ce travail récurrent si précieux !"
work ! Thanks and congratulation".
sommes en phase de finalisation du texte concernant
une saisine au CESE en France. Votre publication
pourrait nous être fort utile."
gracias por la información y felicitaciones..."
"I would be very eager to update my analysis
based on new data."
you provide data on individual companies,
e.g. in an excel spread sheet, so we can see
which companies have stock options? This would
be very useful for our statistical analysis."
votre soutien précieux, en m'aidant à constituer
la base de données statistiques ayant permis
la réalisation des deux études quantitatives
longitudinales de l'impact de l'actionnariat
salarié sur la performance des grandes entreprises
françaises cotées, ma thèse n'aurait pas pu
voir le jour."
of employee ownership in European companies
The data are
available for analysing companies, for benchmarking,
for market research, as well as for research work
and teaching, and for macroeconomic analysis. The
database gathers economic and financial information
about employee ownership in the 2.700 largest European
companies, including listed and non-listed companies.
European Employee Ownership Top 100
European Employee Ownership TOP 100 is designed
with respect to two rankings of Europe's largest
companies, considering employee ownership. In the
EUROCAP100 ranking, companies are ranked by equity
held by employees, in million Euro. In the EUROEMP100
ranking, companies that are 50% or more employee-owned
are ranked by number of employees. Both rankings
are published in the Economic Survey.
Each European country can easily be compared to
others through a specific country file, using a
set of 10 graphs, using fully comparable information,
for instance for: France
information and contact
EFES - EUROPEAN
FEDERATION OF EMPLOYEE SHARE OWNERSHIP
FEAS - FEDERATION EUROPEENNE DE L'ACTIONNARIAT SALARIE
Avenue Voltaire 135, B-1030 Brussels
Tel: +32 (0)2 242 64 30 - Fax: +32 (0)2 791 96 00
Web site: www.efesonline.org
EFES' objective is to act as the umbrella organization
of employee owners, companies and all persons, trade
unions, experts, researchers, institutions looking
to promote employee ownership and participation