CE3
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Set of flashcards Details
| Flashcards | 49 |
|---|---|
| Language | Deutsch |
| Category | Micro-Economics |
| Level | University |
| Created / Updated | 03.05.2023 / 06.06.2023 |
| Weblink |
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Antecedents of Psychological Ownership
Three Main Routes to psychological Ownership
- controlling the ownership target ( can I shae and inpact firm?)
- intimately know the target/firm
- investing the self into the target
=> PO as outcome
additional antecendents
- informative justice ( infromed, fair)
- distributive justice ( feel fairly compensated)
- gender ( femaind weaker)
- tendure( the lnger the bigger)
- hierarchy level ( the higher the more)
= > PO towards the company
The role of Leadership
- Transformational Leadership ( strong effect)
- Transactional Leadership ( weak effekt)
- Passive Leadership ( negative effekt)
effect on: Psychological Ownership ( Organizational based and job based )
How To Foster Psychological Ownership?
not everyone needs PO, just a few in ORG.
COnnecting the Dots
Psychological Ownership vs. Formal Ownership
- For formal ownership to have any effects, ownership feelings have to emerge as a first step
- form formal ownership its not immediatlc behaviour changes !! there are 3 rights
- Three «rights» necessary
- Right to actually own a part of the company
- Right to information
- Right to influence
Formal Ownership -----3 rights--->psychological ownership -> effects ( attitudial and behavioral changes)
Psychological Ownership vs. formal Ownership
Ownership feelings are also possible WITHOUT formal ownership
Avoid disadvantages, use advantages?
Formal in not necessary if we have psychoogical ownership ! so just skip it and focus on the right side
Psychological Ownership vs. Formal Ownership
Viereck
- classic agent ( low PO and FO=
- transient owner ( low PO high FO)
- Psychlogical Principal (high PO, low FO)
- true prinpipal ( both high)
P.O. And The Previous Class
stock ownerhship plans
financial incentives systems and PO
The Combination: A process Model
- Step 0: the awareness that you need to approach this problematic systematicaly
- step 1: Srengthen PO + Improve organizational factors ( this two takes the longest so start at first)
- Step 2: Introduce meaningful financial incentive system
- Step 3: ( optinal) Introduce meaningsful stock ownership programm
