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
We examine how employee ownership is used to solve the agency problem between institutional investment management firms and employees.
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.
This study seeks to ascertain the impact of employee stock ownership plans (ESOPs) on earnings management.
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.
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.
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.
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.
In this paper, we use empirical analysis to analyze company characteristics associated with the adoption and maintenance of broad-based stock option plans. Overall, our results provide support to the claim that higher monitoring costs prompt firms to adopt and maintain employee stock option plans.
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.
This note provides background information on leveraged Employee Stock Ownership Trusts (ESOTs) and Employee Stock Ownership Plans (ESOPs).