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Pros and cons of employee stock ownership plans
Business Horizons, 1976An employee stock ownership plan (ESOP) can offer many advantages to the sponsoring company, its employees and its stockholders. However, any company considering the establishment of this type of employee benefit plan should carefully explore the issues involved before proceeding.
Wallace F. Forbes, Donald P. Partland
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Employee Stock Ownership Plans and Corporate Environmental Engagement
SSRN Electronic Journal, 2021This study examines the impact of non-executive employee stock ownership plans (ESOPs) on corporate environmental engagement. We show that granting ESOPs to non-executive employees promotes greater corporate environmental engagement in terms of environmental protection expenditures, environmental information disclosure, and environmental, social, and ...
Dongmin Kong, Yanan Wang
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Employee Stock Ownership Plans and Corporate Control
Managerial Finance, 1997The conventional wisdom regarding the rationale for employee stock ownership plans (ESOPS) holds that such plans provide incentives for improved worker productivity. This view minimizes the employees' portfolio problem inherent in ESOP participation — employment risk for ESOP participants is increased by tying their investment/retirement program to the
Roger W. Clark +2 more
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Impact of Employee Stock Ownership Plans on Employee Morale
American Journal of Small Business, 1980This study analyzed the impact of an ESOP on employee morale. It also related employee morale changes to several generalized performance criteria of firms and of small businesses. Key executives of companies in the sample were surveyed to learn their estimate of employee morale before and after the installation of ESOP and to supply data regarding the
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Employee Stock Ownership Plans and Stock‐price Informativeness
China & World EconomyAbstractThis study examines the impact of employee stock ownership plans (ESOPs) on stock‐price informativeness in Chinese stock markets. Its findings indicate that firms implementing ESOPs experienced an average 11.89 percent increase in stock‐price informativeness.
Yuehua Zuo +3 more
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Journal of Labor Research, 1992
This paper analyzes the evolution of American unions’ attitudes and policies concerning employee ownership that coincided with the rapid growth of employee stock-ownership plans during the 1980s. From an initial position of opposing employee ownership and viewing it as a threat, many major unions have come to accept, and in some cases to promote, stock
Roger G. McElrath, Richard L. Rowan
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This paper analyzes the evolution of American unions’ attitudes and policies concerning employee ownership that coincided with the rapid growth of employee stock-ownership plans during the 1980s. From an initial position of opposing employee ownership and viewing it as a threat, many major unions have come to accept, and in some cases to promote, stock
Roger G. McElrath, Richard L. Rowan
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The Effect of Employee Stock Ownership Plans on Corporate Profits
The Journal of Risk and Insurance, 1980Employee Stock Ownership Plans (ESOP) recently have become popular as employee benefit plans. Arguments presented in their favor include increased productivity, lower employee turnover, and reduced costs of raising equity capital. Little empirical evidence has documented these purported benefits.
D. T. Livingston, James B. Henry
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An implicit contract approach to employee stock ownership plans
Journal of Comparative Economics, 1990Abstract This paper analyzes employee stock ownership plans in an implicit contract model under asymmetric information. Our model assumes that worker compensation schemes involve wage and stock payments, or wage-share contracts, and treats shares of stock as an enforceable claim on the firm's realized profits.
Dan Kovenock, Roger Sparks
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Employee Stock Ownership Plans: A Status Report
SSRN Electronic Journal, 2000For the past 25 years, employee stock ownership plans (ESOPs) have provided employers with a means to transfer substantial ownership interests to their employees. But as the popularity of company stock as an investment option increases among employees, employers have some new alternatives to consider.
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Employee stock ownership plans and three‐component commitment
Journal of Occupational and Organizational Psychology, 2004Previous studies of employee ownership have conceptualized its chief attitudinal outcome principally as an emotional bond to the organization (i.e. affective commitment), despite a growing consensus that commitment is multifaceted. Using a sample of airline pilots, we assessed relationships between ESOP (employee stock ownership plan) attributes and ...
Robert A. Culpepper +2 more
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