Research on the effects of employee ownership on employee attitudes has yielded differing results. One reason is the use of alternative theoretical perspectives to guide research efforts. Three theoretical perspectives have been identified in previous research: the Intrinsic Satisfaction model, the Instrumental Satisfaction model, and the Extrinsic Satisfaction model. These three perspectives were compared in a study of employees in an employee-owned company. Results indicated the greatest support for the Instrumental Satisfaction perspective, in which ownership affects employee attitudes primarily through providing greater perceived influence and control. Additional support was found for the Extrinsic Satisfaction perspective, with employee attitudes affected by the financial value of ownership. No support was found for the Intrinsic Satisfaction perspective.
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