Employee share ownership and job attitudes: The effects of share sale

Although the association between employee share ownership and job attitudes has been documented in the literature, little attention has been paid to the association with share sale. This study uses discriminant analysis, based on selected job attitudes, to generate a function to distinguish between employees who were or were not shareholders in a large financial institution. The discriminant function was then used to classify those employees who had been shareholders but who had subsequently sold their shares. The evidence indicated that those who had sold their shares had similar job attitudes to existing shareholders and dramatically different job attitudes from those who had never purchased shares. Conjectural insights are offered into the original effect of share purchase on job attitudes.