On the "essential condition" of intellectual capital: Labour!

Journal of Intellectual Capital

Volumn 7, Issue 1, 2006, Pages 111-127

  O'Donnell, David ^a   Tracey, Mairead ^b   Henriksen, Lars Bo ^c   Bontis, Nick ^d   Cleary, Peter ^e   Kennedy, Tom ^b   O'Regan, Philip ^b  

^a Intellectual Capital Research Institute of Ireland   (Ireland)

^b UNIVERSITY OF LIMERICK   (Ireland)

^c AALBORG UNIVERSITY   (Denmark)

^d MCMASTER UNIVERSITY   (Canada)

^e UNIVERSITY COLLEGE CORK   (Ireland)

Author keywords

Intellectual capital; Labour; Stock options

Indexed keywords

EID: 31444454618     PISSN: 14691930     EISSN: None     Source Type: Journal    
DOI: 10.1108/14691930610639804     Document Type: Article

References (88)

1. Aboody, D. (1996), "Market valuation of employee stock options", Journal of Accounting and Economics, Vol. 22 Nos 1-3, pp. 357-91.
2. Aboody, D., Barth, M.E. and Kasznik, R. (2004), "SFAS 123 Stock-based compensation expense and equity market values", The Accounting Review, Vol. 79 No. 2, pp. 251-75.
3. Adler, P. (2002), "Critical in the name of whom and what?", Organization, Vol. 9 No. 3, pp. 387-95.
4. Alvesson, M. and Deetz, S. (1996), "Critical theory and postmodern approaches to organizational studies", in Clegg, S.R., Hardy, C. and Nord, W.R. (Eds), Handbook of Organization Studies, Sage, Thousand Oaks, CA, pp. 191-217.
5. Alvesson, M. and Willmott, H.S. (1996), Making Sense of Management: A Critical Introduction, Sage, London.
6. Alvesson, M. and Willmott, H. (2004), "Identity regulation as organizational control producing the appropriate individual", in Hatch, M.J. and Schulz, M. (Eds), Organizational Identity, Oxford University Press, Oxford, pp. 436-65.
7. Ashton, D.N. and Sung, J. (2002), Supporting Workplace Learning for High-Performance Working, International Labour Office (ILO), Geneva.
8. Bell, T.B., Landsman, W.R., Miller, B.L. and Yeh, S. (2002), "The valuation implications of employee stock options accounting for profitable computer software firms", Accounting Review, Vol. 77 No. 4, pp. 971-96.
9. Benson, J.K. (1977), "Organisations: A dialectic view", Administrative Science Quarterly, Vol. 22 No. 1, pp. 1-21.
10. Blaisdell, R. (2003), The Communist Manifesto and Other Revolutionary Writings, Dover, New York, NY.
11. Blasi, J., Kruse, D. and Bernstein, A. (2003), In the Company of Owners: The Truth About Stock Options (And Why Every Employee Should Have Them), Perseus, New York, NY.
12. Bodie, Z., Kaplan, R.S. and Merton, R.C. (2003), "For the last time: Stock options are an expense", Harvard Business Review, Vol. 81 No. 3, pp. 63-71.
13. Bontis, N. and Fitz-enz, J. (2002), "Intellectual capital ROI: A causal map of human capital antecedents and consequents", Journal of Intellectual Capital, Vol. 3 No. 3, pp. 223-47.
14. Botosan, C.A. and Plumee, M.A. (2001), "Stock option expense: The sword of Damocles revealed", Accounting Horizons, Vol. 15 No. 4, pp. 311-27.
15. Bryer, R.A. (2005a), "Accounting and control of the labour process", Critical Perspectives on Accounting (in press).
16. Bryer, R.A. (2005b), "Marx, accounting and the labour theory of value: A critique of Marxist economics", paper presented to 5th European Critical Accounting Studies Conference, University of Warwick, Coventry, June.
17. Budwar, P., Crane, A., Davies, A., Delbridge, R., Edwards, T., Ezzamel, M., Harris, L., Ogbonna, E. and Thomas, R. (2002P), "Organizing/ theorizing: Developments in organization theory and practice", Management Research News, Vol. 25 No. 8, pp. 1-193.
18. Cassidy, J. (2002), "The greed cycle", The New Yorker, 23 September.
19. CIPD (2002), Reward Management: Survey Report, Chartered Institute of Personnel and Development (CIPD), London.
20. Coff, R. and Rousseau, D.M. (2000), "Sustainable competitive advantage from relational wealth", in Leana, C.R. and Rousseau, D.M. (Eds), Relational Wealth: The Advantages of Stability in a Changing Economy, Oxford University Press, New York, NY, pp. 27-48.
21. Core, J.E. and Guay, W.R. (2001), "Stock options for non-executive employees", Journal of Financial Economics, Vol. 61 No. 2, pp. 253-87.
22. D'Art, D. and Turner, T. (2002), Irish Employment Relations in the New Economy, Blackhall, Dublin.
23. D'Art, D. and Turner, T. (2004), "Profit sharing, firm performance and union influence in selected European countries", Personnel Review, Vol. 33 No. 3, pp. 335-50.
24. D'Art, D. and Turner, T. (2005), "The revival of profit sharing: cyclical recurrence or paradigmatic shift?", working paper, Department of Personnel and Employment Relations, Kemmy Business School, University of Limerick, Limerick.
25. DeFusco, R.A., Johnson, R.R. and Zorn, T.S. (1990), "The effect of executive stock option plans on stockholders and bondholders", The Journal of Finance, Vol. 45 No. 2, pp. 617-27.
26. Dewe, P., Dunn, S. and Richardson, R. (1988), "Employee share options schemes: Why workers are attracted to them", British Journal of Industrial Relations, Vol. 26 No. 1, pp. 1-20.
27. Dundon, T., Curran, D., Maloney, M. and Ryan, P. (2003), "Organisational change and employee information and consultation", CISC Working Papers No. 12, National University of Ireland Galway, Galway.
28. Edvinsson, L. (2002), Corporate Longitude, Bookhouse, Stockholm.
29. EFES (2005), "Home page", European Federation of Employee Share Ownership, Brussels, available at: www.efesonline.org.
30. Geewax, M. (2002), "Stock options trigger a tumult if global standards for accounting are adopted, the US would face pressure to adjust", Atlanta Journal and Constitution, 19 May.
31. Grey, C., Barnes, E. and Cotter, D. (2002), "Employee share options: Recognising the true costs of paying staff", Accountancy Ireland, Vol. 34 No. 3, pp. 12-16.
32. Gunnigle, P. (1999), "Involvement, participation and partnership: A review of the debate and some reflections on the Irish context", paper presented at the Countess Markievicz Lecture to the Irish Association for Industrial Relations, Dublin, November.
33. Habermas, J. (1987), The Philosophical Discourse of Modernity, Polity, Cambridge.
34. Hall, B.J. (2000), "What You Need to Know About Stock Options", Harvard Business Review, Vol. 78 No. 2, pp. 121-30.
35. Hall, B.J. (2004), "Transferable stock options (TSOs) and the coming revolution in equity-based pay", Journal of Applied Corporate Finance, Vol. 16 No. 1, pp. 8-17.
36. Hall, B.J. and Murphy, K.J. (2003), "The trouble with stock options", Journal of Economic Perspectives, Vol. 17 No. 3, pp. 49-70.
37. Handel og Kontor (2005), The Union of Commercial and Clerical Employees in Denmark (Handel og Kontor), available at: www.hk.dk.
38. Harvey, D. (1990), The Condition of Postmodernity: An Enquiry into the Origins of Cultural Change, Blackwell, Cambridge, MA.
39. Hasset, K.A. and Wallison, P.A. (2004), "A troubling requirement", Regulation, Vol. 27 No. 1, pp. 52-8.
40. Henriksen, L.B., Nørreklit, L., Jørgensen, K.M., Christensen, J.B. and O'Donnell, D. (2004), Dimensions of Change: Conceptualising Reality in Organisational Research, Copenhagen Business School Press, Copenhagen.
41. Ittner, C., Lambert, R. and Larcker, D. (2002), "The structure and performance consequences of equity grants to employees of new economy firms", Journal of Accounting and Economics, Vol. 34 Nos 1-3, pp. 89-127.
42. Jensen, M. and Meckling, W. (1976), "Theory of the firm: Managerial behaviour, agency costs and ownership structure", Journal of Financial Economics, Vol. 3, pp. 305-60.
43. Kanagaretnam, K., Lobo, G.J. and Mathieu, R. (2004), "CEO compensation mix and analysts' forecast accuracy and bias", paper presented at the 4th Asia Pacific Interdisciplinary Research in Accounting Conference, Singapore, July.
44. Kroumova, M. and Sesil, J.C. (2005), "Intellectual capital, monitoring and risk: What predicts the adoption of broad-based employee stock options?", SSRN Working Paper Series, SSRN_ID456040_code031028100.pdf (forthcoming in Industrial Relations, 2006).
45. Kruse, D.L. (1996), "Why do firms adopt profit sharing and employee ownership plans?", British Journal of Industrial Relations, Vol. 34 No. 4, pp. 515-38.
46. Madrick, J. (2003), "A theory on corporate greed", New York Times, 20 February.
47. Marchington, M. and Grugulis, I. (2000), "'Best practice' human resource management: Perfect opportunity or dangerous illusion", International Journal of Human Resource Management, Vol. 11 No. 6, pp. 1104-24.
48. Marchington, M., Wilkinson, A., Ackers, P. and Dundon, T. (2001), Management Choice and Employee Voice, Chartered Institute of Personnel and Development (CIPD), London.
49. Marx, K. (1977), Capital: A Critique of Political Economy, Lawrence & Wishart, London.
50. Marx, K. and Engels, F. (2003), "The manifesto of the communist party", in Blaisdell, R. (Ed.), The Communist Manifesto and Other Revolutionary Writings, Dover, New York, NY, pp. 123-50 (originally published 1848).
51. Matsunaga, S. (1995), "The effects of financial reporting costs on the use of employee stock options", The Accounting Review, Vol. 70 No. 1, pp. 1-26.
52. Mouritsen, J. (2004), "Measuring and intervening: How do we theorise intellectual capital management", Journal of Intellectual Capital, Vol. 5 No. 2, pp. 257-67.
53. NCEO (2005a), "Employee stock options fact sheet", National Center for Employee Ownership, Oakland, CA, March, available at: www.nceo.org/library/optionfact.html.
54. NCEO (2005b), "A statistical profile of employee ownership", National Center for Employee Ownership, Oakland, CA, March, available at: www.nceo.org/library/eo_stat.html.
55. OASIS (2005), "Employee share schemes in Ireland", Oasis Information on Public Services, Dublin, available at: www.oasis.gov.ie/employment/pay_and_employment/ employee_share&_option_schemes.html.
56. O'Donnell, D. (1999), "Habermas, critical theory and selves-directed learning", Journal of European Industrial Training, Vol. 23 Nos 4/5, pp. 251-61.
57. O'Donnell, D. (2004), "Theory and method on intellectual capital creation: Addressing communicative action through relative methodics", Journal of Intellectual Capital, Vol. 5 No. 2, pp. 294-311.
58. O'Donnell, D. and Henriksen, L.B. (2002), "Philosophical foundations for a critical evaluation of the social impact of ICT", Journal of Information Technology, Vol. 17 No. 2, pp. 89-99.
59. O'Donnell, D. and O'Regan, P. (2000), "The structural dimensions of intellectual capital: Emerging challenges for management and accounting", Southern African Business Review, Vol. 4 No. 2, pp. 14-20.
60. O'Donnell, D., Garavan, T.N. and McCarthy, A. (2001), "Understanding the Irish VET system: Beyond neoclassicism", International Journal of Manpower, Vol. 22 No. 5, pp. 425-44.
61. O'Donnell, D., McGuire, D. and Cross, C. (2006), "Critically challenging some assumptions in HRD", International Journal of Training & Development, Vol. 10 No. 1 (in press).
62. O'Donnell, D., O'Regan, P., Coates, B., Kennedy, T., Keary, B. and Berkery, G. (2003), "Human interaction: The critical source of intangible value", Journal of Intellectual Capital, Vol. 4 No. 1, pp. 82-99.
63. O'Regan, P., Kennedy, T., O'Donnell, D., Bontis, N. and Cleary, P. (2004), Exploring Intellectual Capital Practice in the Irish ICT Sector, Chartered Institute of Management Accountants (CIMA), London.
64. O'Regan, P., O'Donnell, D., Kennedy, T., Bontis, N. and Cleary, P. (2001), "Perceptions of intellectual capital: Irish evidence", Journal of Human Resource Costing & Accounting, Vol. 6 No. 2, pp. 29-38.
65. Pourceau, F. (2003), Employee Participation and Tax Obstacles in the EU, European Federation of Employee Share Ownership (EFES), Brussels.
66. Poutsma, E. and de Nijs, W. (2003), "Broad-based employee financial participation in the European Union", International Journal of Human Resource Management, Vol. 14 No. 6, pp. 863-92.
67. Poutsma, E., de Nijs, W. and Poole, M. (2003), "The global phenomenon of employee financial participation", International Journal of Human Resource Management, Vol. 14 No. 6, pp. 855-62.
68. Proudhon, P.-J. (2003), "What is property?", in Blaisdell, R. (Ed.), The Communist Manifesto and Other Revolutionary Writings, Dover, New York, NY, pp. 102-22 (originally published 1840).
69. Roche, W.K. and Geary, J. (2000), "'Collaborative production' and the Irish boom: Work organisation, partnership and direct involvement in Irish workplaces", Economic and Social Review, Vol. 31 No. 1, pp. 1-36.
70. Rosen, C., Case, J. and Staubus, J. (2005a), Equity: Why Employee Ownership is Good for Business, Harvard Business School Press, Cambridge, MA.
71. Rosen, C., Case, J. and Staubus, J. (2005b), "When employees have equity attitude", Harvard Business School Working Knowledge Series, available at: http://hbswk.hbs.edu (accessed 16 May 2005).
72. Rousseau, D.M. and Shperling, Z. (2003), "Pieces of the action: Ownership and the changing employment relationship", Academy of Management Review, Vol. 28 No. 4, pp. 553-70.
73. Rousseau, D.M. and Shperling, Z. (2004), "Ownership and the changing employment relationship: Why stylized notions of labor no longer generally apply - a reply to Zardkoohi and Paetzold", Academy of Management Review, Vol. 29 No. 4, pp. 562-9.
74. Seligman, J. (2003), The Transformation of Wall Street: A History of the Securities And Exchange Commission and Modern Corporate Finance, Aspen Publishing, New York, NY.
75. Sesil, J.C., Kroumova, M.K., Blasi, J.R. and Kruse, D.L. (2002), "Broad-based employee stock options in U.S. 'New Economy' firms", British Journal of Industrial Relations, Vol. 40 No. 2, pp. 273-94.
76. Smith, A. (1962), The Wealth of Nations, Vols. I and II, London (originally published 1776).
77. Stammerjohan, W. (2004), "CEO compensation and subsequent firm performance: An empirical investigation", Corporate Ownership & Control, Vol. 2 No. 1, pp. 86-103.
78. Street, D.L. and Cereola, S. (2004), "Stock options compensation: impact of expense recognition on performance indicators of non-domestic companies listed in the US", Journal of International Accounting, Auditing & Taxation, Vol. 13, pp. 21-37.
79. Sveiby, K.-E. (1997), The New Organizational Wealth, Berret-Koehler, San Francisco, CA.
80. Teague, P. (2004), "Social partnership and the enterprise: Some lessons from the Irish experience", European Political Economy Review, Vol. 2 No. 1, pp. 6-35.
81. Tracey, M., O'Donnell, D. and O';Regan, P. (2005), "Whither stock options now?", PMA Perspectives on Performance, Vol. 4 No. 1, pp. 14-15.
82. Wallace, J., Gunnigle, P. and McMahon, G. (2004), Industrial Relations in Ireland, 3rd ed., Gill & McMillan, Dublin.
83. Weil, J. and Segal, P. (2002), "A global journal report: IASB to treat share options as expense - if companies follow Coke, US stocks may seem pricier", Wall Street Journal Europe, 17 July.
84. Willmott, H. (1991), "The auditing game: A question of ownership and control", Critical Perspectives on Accounting, Vol. 2 No. 1, pp. 109-212.
85. Willmott, H. (2003), "Organization theory as a critical science? Forms of analysis and 'new organizational forms'", in Tsoukas, H. and Knudsen, C. (Eds), The Oxford Handbook of Organization Theory, Oxford University Press, Oxford, pp. 88-112.
86. Winther, G. and Marens, R. (1997), "Participatory democracy may go a long way: Comparative growth performance of employee ownership firms in New York and Washington States", Economic and Industrial Democracy, Vol. 18 No. 3, pp. 393-422.
87. Zardkoohi, A. and Paetzold, R.L. (2004), "Ownership and the changing employment relationship: A comment on Rousseau and Shperling", Academy of Management Review, Vol. 29 No. 4, pp. 556-62.
88. Wittgenstein, L. (2001), Philosophical Investigations, 3rd ed., Blackwell, Oxford (originally published 1953).