SURVEY OF EUROPEAN COUNTRIES
LEGISLATION - PRACTICES - RESEARCH

Recent policy decisions regarding employee share ownership in European countries

1. News:
02.12.2016: Premier Baromètre de l'Actionnariat Salarié dans les Sociérés non cotées en France
20.10.2016: The European Parliament publishes a study on Spanish employee-owned "sociedades laborales"
01.08.2016: Ricardo Machado, Participación de los trabajadores en el capital de la empresa: su implementación y viabilidad en Portugal. Análisis de 14 países de la Unión Europea, Madrid, 2011

20.04.2016:
Etude Eres/BDO sur l'actionnariat salarié dans les PME françaises
04.04.2016: Etude Eres/BDO sur l'actionnariat salarié dans les PME françaises (communiqué)

02.02.2016: Baker & McKenzie Alert
29.10.2015: Global Equity Matrix from Baker & McKenzie in October 2015 (information on the key compliance issues for equity awards in 50 countries)
13.05.2015: Etude Eres Actionnariat Salarié 2015 en France et en Europe
31.03.2015: Deutsches Aktieninstitut: Zeit zum Handeln – Mitarbeiterkapitalbeteiligung und Belegschaftsaktien endlich fördern
20.10.2014: Baker & McKenzie is pleased to provide its latest Global Equity Matrix. This document summarizes information on the key compliance issues for equity awards and covers tax and securities, exchange control, labor and data privacy issues in 50 countries.
26.06.2013: Employee share ownership - The European background (all European reports, studies, etc)

21.12.2012: La démocratisation de l'actionnariat salarié en France

05.12.2012: UK: How the Employee Owned Business sector succeeded to grow from £15-20 billion to over 30 in a few years

14.11.2012: British Government response to the Nuttall Review: Next steps for employee ownership in the UK

31.10.2012: Report on "Employee Financial Participation and Companies' Proceeds" - Economic & Scientific Policy Directorate of the European Parliament
06.07.2012: The Nuttall Review of Employee Ownership
                  The British Government adviser on employee ownership publishes its report, including his 28 recommendations
                  to promote employee ownership in the UK, in line with the British Governments' aim of shifting employee ownership
                  into the mainstream of corporate Britain.
12.06.2012: Comments by European companies about employee share ownership
01.06.2012: Letter from Graeme Nuttall
21.05.2012: UK: The HM Revenue & Customs (HMRC)’s employment-related shares and securities unit has introduced a newsletter
14.10.2011: L'étude ASRA 2011: Actionnariat salarié dans les grandes entreprises françaises 2000-2010
19.07.2011: Finland: The impact of Personnel Funds (doctoral thesis by Christina Sweins)
18.02.2011: A significant step forward for employee shareholders' rights in France
29.11.2010: PEPPER IV Report - complete version
18.06.2010: Le Centre d'Analyse Stratégique du Gouvernement français a publié son rapport "Améliorer la gouvernance d’entreprise et la participation des salariés"
Télécharger le rapport complet
25.02.2010: Annual Economic Survey of Employee Ownership in European Countries in 2009
05.02.2010: Germany: INSM - Dossier Mitarbeiterbeteiligung
01.01.2010: Jens Lowitzsch - PEPPER IV Report "Benchmarking Financial Participation of Employees in the EU-27"
27.02.2009: Annual Economic Survey of Employee Ownership in European Countries in 2008
02.02.2009: New legislation voted in Germany
27.01.2009: Jens Lowitzsch - PEPPER IV Report Summary - Benchmarking of Employee Participation in Profits and Enterprise Results in the Member and Candidate Countries of the European Union
27.01.2009: Jens Lowitzsch - PEPPER IV Report - Full Strasbourg Edition
01.01.2009: First benchmark of employee savings accounts in France
09.06.2008: Austria: According to a survey, employee share ownership is more common than originally expected
31.03.2008: The New York Times - Europe Takes a Closer Look at Employee Stock Ownership
06.03.2008: Anthony Jensen, University of Sydney - Spain pioneers Sustainable Democratic Corporate Governance Business Model with Sociedades Laborales
20.01.2008: 80% of all wide European groups had employee share plans in 2007, coming from 60% in 2001, 40% in 1998, 20% in 1994, 10% in 1986...
21.11.2007: Picture of European employee share ownership in 2007 - Comparing 14 countries and Austria
10.04.2007: Survey of employee ownership in Australia
Four new research reports give a full survey of employee ownership in Australia, due to the University of Melbourne: An Overview of Existing Data on Employee Share Ownership in Australia, Employee Share Ownership: A Review of the Literature, Employee Share Ownership Plans in Australia: The Corporate Law Framework, Employee Share Ownership Plans in Australia: The Taxation Law Framework. Click here for full information and download reports
17.01.2007: France: New legislation for employee share ownership - "Loi du 30.12.2006 pour le développement de la participation et de l'actionnariat salarié"
22.12.2006: Insolvency, Employee Rights & Employee Buyouts, A Strategy for Restructuring - Anthony Jensen, Ithaca Consultancy and The Common Case Foundation, UK
22.12.2006: Thesis by Eric Kaarsemaker: Employee Ownership and Human Resource Management - theoretical and empirical treatise + Dutch context
21.12.2006: Thesis by Marco Caramelli: Impact of employee ownership in multinational companies, an intercultural attitudinal approach
21.12.2006: Research report by Patrick Guiol & Jorge Munoz: Participative management contributes to better public health
21.12.2006: Pepper III Report by Jens Lowitzsch - Picture of employee financial participation in the new member countries of the European Union
04.10.2006: Rapport de la Délégation de l'Assemblée Nationale pour l'Union Européenne "Participation, intéressement et actionnariat salarié: trois piliers pour l'Europe sociale face à la mondialisation"
04.10.2006: Mitarbeiterbeteiligung in Österreich im Rahmen des Forums Alpbach von AK-Experten Heinz Leitsmüller und WKÖ-Experten Ralf Kronberger
22.03.2006: Erik Poutsma and others: Changing Patterns of Employee Financial Participation in Europe 2006 - A survey among listed firms in Six European Member States 16.11.2005: The NCEO published its updated statistical profile of employee ownership in the USA
17.10.2005: Stock options: The European Commission – DG Enterprise and Industry organised a study on employee stock options, leading to the conclusion in 2003 that: Employee stock options can help to promote entrepreneurship (click to get the full document)    This conclusion was based on a Final report by the Expert Group on Employee Stock Options  and on the DG Enterprise study on Employee Stock Options in the EU and USA
15.09.2005: European Foundation Dublin: Financial Participation in the EU: a benchmarking study of Slovenia
22.08.2005: The new EU Prospectus Directive and Employee Share Incentives (Pinsent Masons - July 2005)
26.10.2004: European Foundation Dublin: Financial participation in the EU: Indicators for benchmarking
06.09.2004: European Foundation Dublin: Financial participation for SMEs: barriers and potential solutions
18.05.2004: European Foundation Dublin: Financial Participation: the role of governments and social partners
15.11.1999: European Commission : A company perspective on financial participation in the EU - Objectives and obstacles

2. Basis information:
1. Table of employee ownership laws accross the world (Source: COG)
         
Matrix of legislation in 39 countries.
2. Employee ownership legislation around the world (Source: NCEO)
        
Survey of legislation in 13 countries (85 pages) (Canada, Egypt, France, Hungary, Ireland, Jamaica, Poland, Russia, Slovenia, Trinidad, Spain, UK, USA).
3. French legislation (Source: Fondact)
        
Data base of French legislation.
4. Survey of financial participation within European countries (Source: Erik Poutsma / Dublin Foundation)
        
Draft of the next PEPPER III REPORT to be published by the European Commission in 2001 - all EU countries (79 pages).
5. UK legislation (Source: Inland Revenue)
        
Data base of UK legislation.
         New Employee Ownership Legislation voted on November 7, 2002.
6. Overview of incentive stock option plans throughout Europe (Source: CMS)
and Overview of related taxation issues (Source: CMS)
       
Overview of legislation on incentive stock option plans (34 pages)
        and related taxation issues (32 pages) in 11 European countries (Austria, Belgium, Denmark, France, Germany, Hungary, Netherlands, Poland, Sweden, Switzerland, UK), winter 2000.
7. International stock plans - The Practitioner's Guide (by Louis Rorimer)
       
A terrific handbook explaining global stock plan creation, compliance and communications in 12 European countries and others (Belgium, Denmark, France, Germany, Ireland, Italy, Netherlands, Norway, Spain, Sweden, Switzerland, UK), in 2 volumes.
8. Irish legislation (George Tuthill)
       
Overview of Irish legislation, April 2001.
9. Belgium: new legislation (in French and Dutch)
        
New legislation adopted by Belgian Parliament unanimously in plenary session on 29 March 2001:
         - Preparatory report ("Report De Grauwe") in PDF in Nederlands
         - Preparatory report ("Report De Grauwe") in PDF in English
         - Text adopted in plenary session on 29.3.2001
         - Minutes of the plenary session on 29.3.2001
        
- Official publication of the law
         - Practical measures 1, 2, 3 and 4
        
In English: THE NEW BELGIAN EO LAW (3 .PDF pages presentation in English)
10. European Council Recommendation
        
Europe - Council Recommendation of 27.7.1992 (1)
         Europe - Council Recommendation of 27.7.1992 (2)
11. Erik Poutsma's new report (nearly a "PEPPER III") making a new survey of financial participation within European countries; written in 1999 - published in 2001 by the European Foundation together with the European Commission
         
The 114 pages report ("Recent trends in employee financial participation in the EU")
         Summary of the report in 4 pages in English
         Summary of the report in 4 pages in French
12. New report of the European Foundation on employee share ownership and profit sharing in the European Union (based on Cranfield survey data) - published in November 2001
         
The 102 pages report
         Summary of the report in 4 pages in English
         Summary of the report in 4 pages in French
13. Spain:
Anthony Jensen, University of Sydney - Spain pioneers Sustainable Democratic Corporate Governance Business Model with Sociedades Laborales
Law on Sociedades Laborales en français, in English, in Italiano, in Deutsch, en Español (PDF)
Dedicated web pages on the Spanish model of the Sociedades Laborales (in French and Nederlands)
14.EFES article on "Tax & law obstacles to employee financial participation schemes in the EU" (PDF), July 2003

17.10.2005: Stock options: The European Commission – DG Enterprise and Industry organised a study on employee stock options, leading to the conclusion in 2003 that: Employee stock options can help to promote entrepreneurship (click to get the full document)    This conclusion was based on a Final report by the Expert Group on Employee Stock Options  and on the DG Enterprise study on Employee Stock Options in the EU and USA

26.06.2013: Employee share ownership - The European background (all European reports, studies, etc)

 

 

 


 

 

For information and contact
EFES - EUROPEAN FEDERATION OF EMPLOYEE SHARE OWNERSHIP
FEAS - FEDERATION EUROPEENNE DE L'ACTIONNARIAT SALARIE
Avenue Voltaire 135, B-1030 Brussels
Tel/fax: +32 (0)2 242 64 30
E-mail: efes@efesonline.org
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 share ownership and participation in Europe.