Social Science Research Network Archives

Worker-Owned and Unionized Worker-Owned Cooperatives: Two Tools to Address Income Inequality

Carmen Huertas-Noble | March, 2016

This article evaluates worker-owned and unionized worker-owned cooperatives as alternatives to the conventional corporate structures for businesses in the United States. With their focus on democratic governance and shared ownership, worker-owned cooperatives offer an antidote to the extreme inequality of income and deterioration of working conditions that workers are experiencing. These are inequities for which … Read More

Owners as Stewards: What Determines Employee Ownership of Institutional Investment Management Firms?

Jennifer Marietta-Westberg, Stephen G. Dimmock, William Christopher Gerken | September, 2009

We examine how employee ownership is used to solve the agency problem between institutional investment management firms and employees.

L. S. Starrett Company

Peter R. Hennessy, Robert F. Bruner | October, 2008

Should Wachovia Bank and Trust lend the ESOP of Starrett the money to purchase shares? The required tasks involve a standard credit analysis and the valuation of Starrett’s shares.

ESOPs and Earnings Management: An Empirical Note

Pornsit Jiraporn | November, 2006

This study seeks to ascertain the impact of employee stock ownership plans (ESOPs) on earnings management.

Give Everyone a Prize? Employee Stock Options in Private Venture-backed Firms

John R. M. Hand | December, 2005

This study investigates the impacts on the equity values of private venture-backed firms of the organizational depth to which they grant employee stock options.

Broad-Based Employee Stock Options in the U.S.: Company Performance and Characteristics

Douglas Kruse, James Sesil, Joseph Blasi, Maya Kroumova | January, 2005

This paper analyses data on 490 companies with broad-based stock option plans, matched to data from Compustat in order to compare their characteristics and performance to that of other public companies.

Broad-Based Stock Options: Before and After the Market Downturn

James Sesil, Maya Kroumova | January, 2005

We examine labor productivity in small, medium, and large firms that broadly distribute stock options under starkly different market conditions – during the bull (1995-1997) and bear (2000-2002) stock markets. We find greater labor output in both upward and downward markets in all firm size categories, with the exception of small firms in a declining market, where the productivity is also greater, but the statistical significance of the result is weak.

Executive and Broad-Based Stock Options: Evidence from U.S. Panel Data

James Sesil, Yu Peng Lin | January, 2005

This paper examines the productivity effect of the adoption of executive and broad-based stock options. The findings include a positive impact on productivity after the introduction of both executive and broad-based stock options.

Employee Governance

Shann Turnbull | October, 2000

This paper reviews the conflicts of interests introduced by employee participation in the governance of a firm and how these can be constructively resolved by introducing a division of power between investors and employees and/or between management and workers.

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Social Science Research Network