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Journal articles on the topic 'ESOP (Employee Stock Ownership Plan)'

Author: Grafiati

Published: 4 June 2025

Last updated: 1 August 2025

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1

Ismiyanti, Fitri, and Putu Anom Mahadwartha. "Does Employee Stock Ownership Plan matter? An empirical note." Investment Management and Financial Innovations 14, no. 3 (2017): 381–88. http://dx.doi.org/10.21511/imfi.14(3-2).2017.08.

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Employee Stock Ownership Plan (ESOP) is a company program to provide incentives to managers to increase shareholder wealth and to align interests between the shareholders and the management. This ESOP is one of the most effective efforts to reduce conflicts of interest between the owners and the managers. ESOP program is basically intended to provide motivation and incentives for employees, so that employees will have a sense of concern (sense of belonging) to the company. Productivity is a reflection of the level of efficiency and effectiveness of work in total in a company. Productivity beco

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Łabędzki, Rafał, Przemysław Gadomski, and Paweł Multaniak. "Impact of Employee Stock Ownership Plans on Productivity in Video Game Companies." WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS 18 (September 2, 2021): 1235–54. http://dx.doi.org/10.37394/23207.2021.18.115.

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The article deals with the importance of ESOPs (employee stock option plan) for the motivation of key employees of companies producing and publishing computer games. The conducted literature review led to the identification of a motivation model that explains how ESOPs can affect the motivation of employees in this industry. An analysis of the available studies on the importance of ESOPs for employee motivation revealed the existence of at least one key success factor of ESOPs—psychological ownership. The empirical study includes an ESOP analysis of five computer game companies listed on the W

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Cheng, Fu, and Shanshan Ji. "Employee Stock Ownership Plans for Tobacco Concept Stock Listed Companies and Corporate Innovation Investment." Tobacco Regulatory Science 7, no. 5 (2021): 1389–405. http://dx.doi.org/10.18001/trs.7.5.58.

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In this study, we discussed the influence of employee stock ownership plan (ESOP) on innovation investment in Chinese tobacco concept stock listed companies. Methods: we firstly performed empirical research method to investigate the differences in innovation investment between companies implementing ESOPs and companies not implementing ESOPs by using the panel data of tobacco concept stock listed companies from 2014 to 2020. Secondly, we further performed case study method to test the changes in innovation investment of tobacco concept stock listed companies before and after implementing ESOPs

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Liu, Yasi, Shaun McDowell, Chunxiao Xue, and Jianing Zhang. "Environmental, social, and governance performance: The role of Chinese employee stock ownership plans." Environmental Economics 15, no. 2 (2024): 132–48. http://dx.doi.org/10.21511/ee.15(2).2024.10.

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The challenges of global warming, resource depletion, and environmental protection require immediate action from corporations, governments, and communities globally. Implementing environmental, social, and governance (ESG) measures represents a key strategy for corporations in addressing sustainability concerns. This study investigates how the ESG performance of publicly listed companies in China is influenced by employee stock ownership plans (ESOPs). Utilizing a dataset covering 4,464 publicly listed Chinese corporations from 2009 to 2022, this analysis employs fixed-effects regressions to r

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Cheng, Fu, Shanshan Ji, and Yucheng Chen. "The Contract Design of Employee Stock Ownership Plan and Enterprise Innovation Investment: Evidence from China." Sustainability 15, no. 3 (2023): 2601. http://dx.doi.org/10.3390/su15032601.

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Enterprise innovation is a key driver of national economic growth. How to stimulate employees’ innovation vitality to improve the company’s innovation input and output has always been a hot topic. Employee Stock Ownership Plan (ESOP) is one of the effective means to stimulate employees’ innovation vitality by linking employee wealth with firm value. The purpose of this paper is to examine the effect of ESOP implementation and contract design on enterprise innovation investment in the context of the recent booming development of ESOP in China. First, we use a treatment effect model to examine t

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Zuo, Yuehua, Xin Huang, Xiaojun Liu, and Yunhao Dai. "Employee Stock Ownership Plans and Stock‐price Informativeness." China & World Economy 32, no. 3 (2024): 162–90. http://dx.doi.org/10.1111/cwe.12535.

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AbstractThis 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. The plans improved stock‐price informativeness through increased external attention and supervision. An event study shows that ESOPs gave rise to an announcement effect, driven by anticipated performance improvements and the novelty associated with ESOPs. A mechanism analysis demonstrates that the implementation of ESOPs attracted

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Scharf, Adria L. "Case study: Central States Manufacturing, Inc." Journal of Participation and Employee Ownership 4, no. 2 (2021): 190–93. http://dx.doi.org/10.1108/jpeo-09-2021-0012.

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PurposeThis case study examines employee share ownership at Central States Manufacturing, where the employee stock ownership plan (ESOP) shares stunning sums of wealth with employees. Central States designs its ESOP to allow participants to access a portion of their ownership wealth while they are still employed at the company, through hardship and in-service withdrawals. This may make the “wealth benefit” of employee ownership more meaningful to lower-wage workers navigating economic challenges. The case study adds to the discussion about how employee ownership can benefit low- and moderate-w

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Lan Le, Phuong, and Hoa Thi Thanh Nguyen. "Effects of employee stock ownership plans on firm performance – evidence from listed commercial banks of Vietnam." Banks and Bank Systems 18, no. 2 (2023): 202–13. http://dx.doi.org/10.21511/bbs.18(2).2023.17.

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This study presents the effect of employee stock ownership plans on the firm performance of joint stock commercial banks in Vietnam. By using the Cobb-Douglas production function model and regression analysis model, combined with the use of financial statement data and Employee Stock Ownership Plan (ESOP) issuance reports of 18 banks listed on Ho Chi Minh and Hanoi stock exchanges from 2015 to 2019, it is found that ESOP had a positive impact on the performance of banks, but there was a lag of about two years. It can be seen that ESOP issuance has a positive effect on the financial ratios of j

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Jones, Derek C., and Takao Kato. "The Scope, Nature, and Effects of Employee Stock Ownership Plans in Japan." ILR Review 46, no. 2 (1993): 352–67. http://dx.doi.org/10.1177/001979399304600209.

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Using data for various years, including new data for 1973–84, the authors examine the scope, nature, determinants, and effects of Japanese employee stock ownership plans (ESOPs). In 1988, of firms listed on Japan's eight stock exchange markets, 91% had an ESOP, and the average (non-executive) employee plan participant owned stock worth about $14,000. Probit estimates for a sample of manufacturing firms show that firms were more likely to adopt ESOPs when recent business performance was below average, the capital/labor ratio was relatively low, and employment growth was relatively fast. Evidenc

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Ma, TianLong, and Huiping Zhang. "Research on the optimal equity of duo-ou enterprise based on data analysis." Journal of Organizational Change Management 33, no. 6 (2020): 1201–21. http://dx.doi.org/10.1108/jocm-05-2020-0129.

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PurposeThis study aims to disclose how the nature of corporate ownership, stock efficiency and wage level affect the optimal proportion of employee stock.Design/methodology/approachThis paper studies three duopoly markets: two private enterprises, two state-owned enterprises (SOEs) and a private enterprise and an SOE. The competitions between the two parties are taken as a two-stage dynamic sequential game and studied through back-induction.FindingsThe results reveal that the enterprise ownership has a directly bearing on the optimal proportion of employee stock and determines whether to imple

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Wiefek, Nancy, and Nathan Nicholson. "The retirement security of employee owners in ESOPs in S Corporations." Journal of Participation and Employee Ownership 2, no. 3 (2019): 212–21. http://dx.doi.org/10.1108/jpeo-09-2019-0025.

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Purpose American workers at nearly every level of the income spectrum are not and often cannot to save properly to be secure in retirement. Addressing this challenge will require a comprehensive policy discussion by both federal and state policymakers. Employee stock ownership plans (ESOPs) are the primary form of employee ownership, and for reasons explored in this report, companies organized as S corporations are especially likely to be fully ESOP-owned. The purpose of the paper is to explore the role played by employee ownership in retirement security overall and across wage and age groups.

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12

Cheng, Fu, and Shanshan Ji. "The Impact of Employee Stock Ownership Plan on the Cost of Equity Capital: Evidence from China." Discrete Dynamics in Nature and Society 2021 (November 29, 2021): 1–17. http://dx.doi.org/10.1155/2021/4440406.

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Due to the immaturity of bond market and the defects of internal governance structure, Chinese-listed companies have a strong preference for equity financing. How to reduce the cost of equity capital is particularly important for Chinese-listed companies. As an equity incentive system, employee stock ownership plan (ESOP) can reduce the agency conflicts among shareholders, executives, and employees to some extent. These reduced conflicts will, in an efficient capital market, be reflected in a lower cost of equity capital. This paper investigates whether the implementation of ESOP in a new era

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Bagja Rahma Putra. "Pengaruh Penerapan Employee Stock Option Plan (Esop) Terhadap Kinerja Perusahaan Dan Nilai Perusahaan Dengan Profitabilitas Sebagai Variabel Moderasi." Jurnal Bisnisman : Riset Bisnis dan Manajemen 4, no. 2 (2022): 10–20. http://dx.doi.org/10.52005/bisnisman.v4i2.104.

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The Employee Stock Option Plan (ESOP) is a share ownership program implemented in the company, this ESOP program aims to serve as a reward for employees who have good performance where the criteria for receiving this ESOP have been determined by each company, United States of America. is the first country to implement this ESOP program, with various benefits for employees through this share ownership program, the ESOP itself began to be implemented by certain companies in Indonesia regulated by PSAK No. 53 which according to PSAK, payments by companies to employees are not only in the form of

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Change, Cong, and Leo Delaric Manansala. "Employee Stock Ownership Plans and Debt Default Risk in China: Role of Operational Efficiency and Information Transparency." Malaysian Journal of Social Sciences and Humanities (MJSSH) 10, no. 4 (2025): e003354. https://doi.org/10.47405/mjssh.v10i4.3354.

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The Employee Stock Ownership Plan (ESOP) has emerged as a key corporate governance tool, though its adoption in China was initially constrained by regulatory challenges and an underdeveloped securities market. While ESOPs have evolved to align with governance frameworks, concerns about excessive leverage and speculation highlight the need to assess their impact on financial stability. This study examines the impact of ESOPs on debt default risk (EDF) among Chinese-listed firms, emphasizing the mediating roles of operational efficiency and information transparency. Using panel data from the Sha

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Lưu Thu Quang. "Assessing the impact of the employee stock ownership plan using the Difference-in-Differences method." VNU JOURNAL OF ECONOMICS AND BUSINESS 4, no. 3 (2024): 63. http://dx.doi.org/10.57110/vnu-jeb.v4i3.289.

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Sử dụng phương pháp khác biệt trong khác biệt (Difference in differences – DID), nghiên cứu tiến hành điều tra hiệu quả của chính sách phát hành cổ phiếu cho nhân viên (ESOP) trên thị trường chứng khoán Việt Nam, dữ liệu thu thập từ báo cáo thường niên của các công ty niêm yết giai đoạn 2009-2019. Kết quả cho thấy ROA và ROE của công ty trong khoảng thời gian 3 năm sau khi thực thi chính sách ESOP được cải thiện đáng kể so với 3 năm trước khi thực thi chính sách; đồng thời các công ty có chính sách ESOP cũng cải thiện hiệu quả hoạt động tốt hơn so với các công ty không có chính sách ESOP. Tuy

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Cheng, Fu, Chenyao Huang, and Shanshan Ji. "The Impact of Employee Stock Ownership Plans on Capital Structure Decisions: Evidence from China." Mathematics 12, no. 19 (2024): 3118. http://dx.doi.org/10.3390/math12193118.

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The determination of the capital structure is a critical component of a company’s financial decision-making process. The question of how to optimize a firm’s capital structure to increase its value has been a significant topic of interest within the financial community. The employee stock ownership plan (ESOP) has developed rapidly in China’s capital market over the past decade, providing a suitable context for studying the impact of employee equity incentives on capital structure decisions. This paper employs cross-sectional ordinary least squares regression models and unbalanced panel fixed

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Sonali, B. Ramchandani, and Hemal B. Pandya Dr. "Evaluating the Effect of Employee Stock Option Plans on the Financial Performance of Indian Construction & Infrastructure Companies." International Journal of Engineering and Management Research 9, no. 4 (2019): 17–24. https://doi.org/10.31033/ijemr.9.4.4.

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Competitive pressures to improve productivity continue to place significant demand upon organizations globally. To respond to these competitive pressures with the developed countries like USA, ESOPs (Employee Stock Ownership Plans) have also been adopted in developing country like India to increase the firm’s and employee’s performance and productivity by retaining the employees to a large extent. Employee Stock Ownership Plans are majorly utilized by many successful and competent companies across the world. The successes of the ESOP companies in countries like USA, Japan and UK et

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Neuzil, David J. "Is There a Valuation Time Bomb Embedded in Your Client’s ESOP?" Business Valuation Review 43, no. 2 (2024): 24–30. https://doi.org/10.5791/2163-8330-43.2.24.

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As an employee stock ownership plan (ESOP) becomes more seasoned and its most vested employees inch closer to retirement, the manner in which the ESOP manages its annual repurchase obligation can become increasingly risky to the company because the repurchase obligation may start to “snowball.” A company with a sizeable ESOP ownership percentage that redeems the shares it purchases may find the repurchase obligation increasingly onerous as the cash outlay required to fund the repurchases grows at an exponential rate. In this article I examine a hypothetical example of a steady-state, 100% ESOP

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Sellers, Keith F., Joseph M. Hagan, and Philip H. Siegel. "Employee Stock Ownership Plans And Shareholder Wealth: An Examination Of The Market Perceptions Of The Non-Tax Effects." Journal of Applied Business Research (JABR) 10, no. 3 (2011): 45. http://dx.doi.org/10.19030/jabr.v10i3.5923.

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<span>As a means of achieving broad social and economic objectives, Congress has provided tax incentives designed to encourage Employee Stock Ownership Plans (ESOPs). The purpose of this study is to determine if some of the observed market reaction to ESOP adoption may be attributed to nontax benefits of ESOPs. This studys findings indicate that the securities market does perceive positive benefits from an ESOP other than from the tax benefits provided by Congress.</span>

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Wiefek, Nancy, Corey Rosen, and Timothy Garbinsky. "Promoting employee ownership: a look at the states." Journal of Participation and Employee Ownership 2, no. 3 (2019): 183–89. http://dx.doi.org/10.1108/jpeo-09-2019-0024.

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Purpose Close to half of all privately held companies in the USA are owned by baby boomers, meaning 2.7m American businesses are owned by someone age 55 or older. In the coming decades, all of these businesses will either change owners or disappear. The median state has 34,000 businesses approaching an ownership transition. The effects of this generational shift will be felt in cities, small towns and rural areas. At the same time, state governments are struggling with the challenge of preserving jobs and stimulating local economies buffeted by larger economic trends. States currently spend an

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Mustikawati, Anggraini. "Pengaruh Employee Stock Ownership Program (ESOP), Fixed Asset Intensity (FAI) Terhadap Kinerja Keuangan." Jurnal Multidisiplin Indonesia 2, no. 10 (2023): 3367–80. http://dx.doi.org/10.58344/jmi.v2i10.625.

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Penelitian ini bertujuan untuk mengetahui pengaruh Employee Stock Option Plan terhadap kinerja perusahaan. Penelitian ini dilakukan pada perusahaan yang terdaftar di Bursa Efek Indonesia dan mengadopsi Employee Stock Option Plan pada tahun 2019-2022. Penelitian ini menggunakan 45 sampel data dari tahun 2019-2022 dengan menggunakan teknik purposive sampling. Metode analisis data yang digunakan adalah analisi regresi sederhana. Setelah dilakukan penelitian, maka diperoleh hasil pemberian Employee Stock Option Plan berpengaruh signifikan terhadap kinerja perusahaan. Munculnya ESOP didasari sebuah

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Taufani, Dani Rusda, and Herman S. Soegoto. "Strategy for Minimizing Tech Talent Turnover Through the Implementation of Employee Stock Ownership Plan." Proceeding of International Conference on Business, Economics, Social Sciences, and Humanities 6 (March 31, 2023): 205–12. http://dx.doi.org/10.34010/icobest.v4i.370.

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This research aims to formulate a strategy for minimizing tech talent turnover by implementing the Employee Stock Ownership Plan (ESOP) system. The method used in this research is a qualitative method and uses data analysis techniques, namely multiple linear regression using SPSS software. The results of this research have potential implications for organizations looking to reduce tech talent turnover. By implementing the ESOP system, organizations can potentially increase job satisfaction and loyalty, which in turn can reduce turnover. However, the research has shown that stock ownership bene

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Zou, Xiaohang. "Analysis of the motivation and impact of the implementation of the employee stock ownership plan." Advances in Economics and Management Research 8, no. 1 (2023): 313. http://dx.doi.org/10.56028/aemr.8.1.313.2023.

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Equity incentive can be divided into executive equity incentive (Executive Stock Option) and employee equity incentive (Employee Stock Option). Employees here refer to the intermediate managers, core technical personnel and other employees except for the senior executives of the company. The ESOP is a mechanism by which the employees of the company share the ownership of the company by holding the stock or options of the company. From the perspective of the implementation of the employee stock ownership plan motivation, its main theoretical basis can be divided into three categories, respectiv

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Ayu Wisma Dewi, Ni, and Ida Bagus Putra Astika. "Kinerja Perusahaan sebagai Pemediasi Pengaruh Penerapan Employee Stock Option Plan (ESOP) pada Nilai Perusahaan." E-Jurnal Akuntansi 30, no. 4 (2020): 993. http://dx.doi.org/10.24843/eja.2020.v30.i04.p16.

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Limited liability company (Ltd) based on a contract cooperative relationship which is the basis of agency theory with the risk of conflict. The solution to minimize is the employee stock ownership program with the Employee Stock Option Plan (ESOP) strategy. The purpose of this study is to obtain empirical evidence of the relationship of stock options granted’s number to the firm value through firm performance. This research was conducted at companies listed in the BEI and conducted ESOP grants in 2014-2018. Samples obtained using purposive sampling were 48 observations. Data analysis technique

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Xiao, Hongjun, Ying Shi, and Arup Varma. "The effects of employee stock ownership plans on career development in a new era." Career Development International 24, no. 5 (2019): 453–74. http://dx.doi.org/10.1108/cdi-05-2018-0126.

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Purpose China’s workforce is currently experiencing increased career-related stress. Employee stock ownership plans (ESOPs) may be used to help employees overcome these challenges. Little is known about how ESOPs affect employee career development. The purpose of this paper is to investigate the relationship between ESOPs and employee career sustainability and provide guidance for corporate management. Design/methodology/approach The authors employed a multiple linear regression model using a sample of 614 companies that implemented ESOPs between July 2014 and September 2017. Findings Employee

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Zhai, Dongxue, Xuefeng Zhao, Yanfei Bai, and Delin Wu. "A Study of the Impact of Executive Power and Employee Stock Ownership Plans on Corporate Cost Stickiness: Evidence from China A-Share Non-Financial Listed Companies." Systems 11, no. 5 (2023): 238. http://dx.doi.org/10.3390/systems11050238.

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It is of great value to study the stickiness of enterprise cost for reducing enterprise cost and improving enterprise performance. This paper selected all A-share non-financial listed companies from 2014 to 2019 to study the impact of executive power and employee stock ownership plans on cost stickiness. The study found that the higher the executive power, the stronger the cost stickiness of the enterprise. By reducing the adjustment costs and optimistic expectations of management and improving the performance sensitivity of executive compensation and quality of information disclosure, an empl

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Zhang, Ruihan. "ESOP, Double Agency Cost, and Labor Investment Efficiency." Advances in Economics, Management and Political Sciences 118, no. 1 (2024): 241–50. https://doi.org/10.54254/2754-1169/2024.18808.

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Based on the data of Shanghai-Shenzhen A-share listed companies from 2015 to 2022, this paper investigates the impact of employee stock ownership plan implementation on labor investment efficiency. It is found that the implementation of ESOP can significantly improve the efficiency of labor investment, and in this process, the double agency cost plays a part of the intermediary role. In order to solve the potential endogeneity problem caused by self-selection bias, this paper uses the results of propensity score matching to perform regression again, and the conclusion remains unchanged. Furthe

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Lu, Weili, Joseph Reising, and Mark Stohs. "Long-Term Performance of ESOPs and Optimal Managerial Control." Journal of Finance Issues 4, no. 2 (2006): 150–61. http://dx.doi.org/10.58886/jfi.v4i2.2440.

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This abstract was created post-production by the JFI Editorial Board. Our paper examines the interaction between managerial control and ownership in firms with employee stock ownership plans (ESOPs) to determine whether there is evidence of entrenchment in such firms. An increase in executive ownership in a firm gives managers greater control over the firm, but makes them significant shareholders, so their incentives are more aligned with other shareholders. However, a compensation plan that provides executive effective control over a large block of shares without the counterbalancing executiv

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Sari, Brimanti. "Employee Financial Participation Plan Implementation in the United States and the Netherlands: Lessons for Indonesia." Corporate and Trade Law Review 1, no. 1 (2020): 1–22. http://dx.doi.org/10.21632/ctlr.1.1.1-22.

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Employees have a major role in the sustainability of an organization. Employee satisfaction and business accomplishment are equally significant for the company’s sustainability. One of the strategies companies undertake to create a harmonious workplace and stimulate productivity is by giving recognition, awards and/or compensation to their employees. In recent years, equity-based compensation through employee financial participation plans has been becoming more popular. There are several tailor-made participation schemes which may vary among jurisdictions. There include Stock Grants, Direct Em

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Kurland, Nancy. "ESOP Plus Benefit Corporation: Ownership Culture with Benefit Accountability." California Management Review 60, no. 4 (2018): 51–73. http://dx.doi.org/10.1177/0008125618778853.

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Stakeholder capitalism seeks to benefit multiple stakeholders, rather than primarily shareholders. Two increasingly popular forms are the employee stock ownership plan (ESOP) and the benefit corporation. But what happens when a company combines these structures? While the benefit corporation’s expanded stakeholder mandate may appear to come at the expense of employee-owner wealth and the potential for shared power, in fact they can complement one another. Being a benefit corporation can strengthen the employee-owned company’s ownership culture through enhanced engagement and creation of a mean

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Jovanović-Zattila, Milena. "The right of an employee to acquire shares in a limited liability company." Zbornik radova Pravnog fakulteta Nis 62, no. 100 (2023): 57–71. http://dx.doi.org/10.5937/zrpfn0-47587.

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In order to achieve good business results, a company has a number of incentive measures at its disposal to motivate employees to be more productive and efficient in performing their activities. In comparative practice, one of the most successful corporate management measures is the plan for allocating shares to company employees. By introducing amendments to the Business Companies Act, this plan has become an integral part of the legislation of the Republic of Serbia. This innovation in corporate management applies exclusively to limited liability companies. For the purpose of implementing thi

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Khabibullin, R.I. "Employee ownership and collective enterprises in the USA." Economics 47, no. 4 (2020): 20–22. https://doi.org/10.5281/zenodo.4419916.

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The article presents the results of the author's study of present state of employee ownership in the U.S. It is noted that in Russia this form of business is not sufficiently developed. The model of employee ownership of corporate property in the United States (enterprises based on Employee Stock Ownership Plan – ESOP model) is considered. It was demonstrated that employee-owned companies have considerable over the enterprises of other forms of ownership concerning better control of production due to participative management, more comfortable psychological climate and higher competit

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Yuniawati, Silvia, Rida Prihatni, and Ati Sumiati. "Pengaruh Employee Stock Ownership Program (ESOP), Leverage, Ukuran Perusahaan, dan Umur Perusahaan Terhadap Kinerja Keuangan." Jurnal Akuntansi, Perpajakan dan Auditing 5, no. 3 (2024): 551–69. http://dx.doi.org/10.21009/japa.0503.07.

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Optimal financial performance is crucial for the sustainability and growth of a company. The purpose of this study is to evaluate the impact of the Employee Stock Ownership Plan (ESOP), leverage, company size, and company age on financial performance. The population in this study includes 44 transportation entities registered on the Indonesia Stock Exchange for the period 2020-2022. This research utilizes additional data, specifically audited annual financial reports from 2020-2022, which are accessible through the IDX website. The purposive sampling technique was applied in the sampling proce

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Jang, Seung-Hyun, and Pyung Sig Yoon. "Do Employees Have Information on Firm’s Future Performance? Evidence from SEO and ESOP." Korean Journal of Financial Studies 52, no. 2 (2023): 173–212. http://dx.doi.org/10.26845/kjfs.2023.4.52.2.173.

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Using a sample of 576 equity right offerings announced between 2006 and 2015, this study analyzes the wealth effects of the discretionary or no allocation of new shares to Employee Stock Ownership Plan (ESOP) and the relationship between ESOP subscription rates and the long-run performance. The major results are as follows. First, for KOSPI firms that have obligation to allocate new shares to ESOP, those that do not allocate new shares have more negative announcement effects and long-run performance than those that do. Similarly, for KOSDAQ firms that have the discretion to allocate new shares

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Mwenda, Beny, and Magwana Ibrahim Ngollo. "Do Employee Stock Ownership Plans Affect the Quest for Firm Profitability? Evidence from Tanzania." Jurnal Manajemen Teori dan Terapan| Journal of Theory and Applied Management 16, no. 1 (2023): 52–63. http://dx.doi.org/10.20473/jmtt.v16i1.43161.

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Objective: The purpose of this research is to examine the impact of Employee Stock Ownership Plans (ESOP) on firms' profitability of Tanzanian publicly listed firms. Design/Methods/Approach: The research utilized a longitudinal research design by employing secondary data from firms listed in the Dar es Salaam Stock Exchange (DSE). The random effect model with two estimations was utilized to analyze data. Findings: Results suggest that ESOP has a positive and significant effect on the firm’s quest for profitability. Originality: The originality or uniqueness of this study lies in providing furt

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Wen, Xian, Ziyang Li, Yingyue Zhang, and Shaofei Shen. "ESOP and Corporate Sustainable Growth." E3S Web of Conferences 253 (2021): 03039. http://dx.doi.org/10.1051/e3sconf/202125303039.

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The Employee Stock Ownership Plan (ESOP) is a long-term corporate welfare policy that allows employees to share the profits and growth benefits of the enterprise by owning the ordinary share of the enterprise. It has always been a research hotspot at home and abroad. Sustainable growth refers to the healthy and sustained growth of enterprises. ESOP has been re-implemented in China since 2014. Using dual fixed effects model, this paper empirically analyzes 6940 observations of Chinese listed companies from 2014 to 2018. We study whether ESOP can improve the sustainable growth rate of enterprise

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Mygind, Niels. "Drivers and barriers for employee ownership – why is the United States in a positive circle while Denmark is not?" Journal of Participation and Employee Ownership 4, no. 1 (2021): 42–62. http://dx.doi.org/10.1108/jpeo-06-2020-0015.

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PurposeDrivers and barriers for employee ownership vary between countries because of differences in Politics, Institutions and the Economy (PIE). By analyzing this variation, the purpose of this study is to answer why employee ownership has developed fast in the United States and not in Denmark.Design/methodology/approachThe drivers and barriers for employee ownership are identified from the scientific literature, and the main societal dynamics are identified through the PIE model covering the dynamics between politics, institutional change and the economy. Politics focuses on different social

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Berry, Daphne, and David Fitz-Gerald. "Governance and decision making at Carris Reels." CASE Journal 13, no. 1 (2017): 5–24. http://dx.doi.org/10.1108/tcj-09-2015-0047.

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Synopsis Carris Reels, a reel-manufacturing company headquartered in Vermont, had long-standing goals of being employee owned and governed. They also had a strong organizational (ownership) culture. The Corporate Steering Committee (CSC), a committee composed of representatives from management and non-management employees, and the board of directors had a decision to make about adding two new members to the board. With these new members, the board of directors would be made up of both members of management and non-management employees. Was Carris forfeiting wiser outside counsel in favor of co

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Asyik, Nur Fadjrih. "DAMPAK STRUKTUR MODAL PADA SENSITIVITAS PENERAPAN KOMPENSASI OPSI SAHAM KARYAWAN TERHADAP KINERJA." EKUITAS (Jurnal Ekonomi dan Keuangan) 14, no. 1 (2017): 1. http://dx.doi.org/10.24034/j25485024.y2010.v14.i1.2109.

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This study aims to test whether the management that receive compensation in the form of stock options having an positive impact on company performance. This study considers the external performance measurement by identifying Cumulative Abnormal Return (CAR). In addition, this study aims to test whether the company's capital structure affects the sensitivity level of employee stock option compensation and firm performance. Capital structure is measured with debt to equity ratio. The result indicates that the proportion of Employee Stock Option Plan (ESOP) influence company performance in accord

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Aribawa, Dwitya. "Analisis Nilai Perusahaan pada Implementasi Program Kepemilikan Saham pada Karyawan/Manajemen." Jurnal Ekonomi dan Bisnis 19, no. 3 (2016): 341. http://dx.doi.org/10.24914/jeb.v19i3.458.

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<p><em>This research aims to investigate whether there is a significant difference of Economic Value Added (EVA) before and after Employee Stock Ownership Plan (ESOP) or Management Stock Ownership Plan (MSOP) implementation years. It is widely considered that EVA is a complex indicator that also take firms’ risk factor (beta) into consideration. We used firms listed on Indonesian Stock Exchange (IDX) as the sampling frame with 17 firms as our final sample, representing various industries. After running data normality test, we performed paired sample t-test to test our hypothesis. T

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Lozhnikova, A. V., and O. V. Kudelina. "Broad-based Employee Ownership in Great Reset of capitalism." MIR (Modernization. Innovation. Research) 13, no. 3 (2022): 532–46. http://dx.doi.org/10.18184/2079-4665.2022.13.3.532-546.

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Purpose: the authors explore the Role of Employee Ownership in the context of the Great Reset of Capitalism.Methods: in contrast to the theory of stakeholder capitalism, this article discusses an alternative point of view on the reset of capitalism – through the Broad-based Employee Ownership of companies in the world and Russian economy. The article criticizes G. Dow's methodological approaches and the underestimation on the contribution of Labour-managed firms to the world economy. The criterion of "45 founders or more" is applied to the mass ownership of employees, with a minimum number of

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Trébucq, Stéphane. "The effects of ESOPs on performance and risk: Evidence from France." Corporate Ownership and Control 1, no. 4 (2004): 81–93. http://dx.doi.org/10.22495/cocv1i4p7.

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Approximately 220 of the 700 firms whose stock was traded on the main French markets had an employee stock ownership plan at the end of the year 2000. Average ownership was 3.7%. Employee ownership can be implemented for many reasons, and the relationship between ESOPs and performance still remains unclear. The purpose of this research is thus to determine how employee ownership can affect corporate performance and risk in France. This study improves upon previous work by using ownership, performance and risk variables, as well as control variables (sector, size, debt, growth), applied to a la

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Genteela, Rambabu, and Srikanth Potharla. "Cost Governance for Employee Stock Ownership Plan: A Study on ESOPs in Indian Industries." Management Accountant Journal 54, no. 9 (2019): 26. http://dx.doi.org/10.33516/maj.v54i9.26-30p.

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Zhang, Yixuan. "Employee Stock Ownership Plans and Corporate Innovation." Academic Journal of Management and Social Sciences 2, no. 1 (2023): 54–59. http://dx.doi.org/10.54097/ajmss.v2i1.5950.

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Based on the sample of A-share listed companies that implemented ESOPs from 2014 to 2021, this paper empirically studies the impact of ESOPs on corporate innovation output. The results show that ESOPs can promote corporate innovation output. The research in this paper reveals the important role of employees in corporate innovation, which enriches and expands the research on the influencing factors of corporate innovation with employees as the main body. The research conclusions have some implications for the implementation of ESOPs in listed companies.

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Wijaya, Riyan Kurniawan, Jamaluddin Jamaluddin, Vanessa Putri Johan, Ester Paulina Br. Pasaribu, and Hendra Saputra. "Pengaruh ESOP (Employee Stock Ownership Program), Suku Bunga, Kepemilikan Institusional Terhadap Kinerja Keuangan Di Perusahaan Properti Dan Real Estate Yang Terdaftar Di Bursa Efek Indonesia." Journal of Economic, Bussines and Accounting (COSTING) 7, no. 3 (2024): 4648–60. http://dx.doi.org/10.31539/costing.v7i3.8376.

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The aim of this research is to examine the influence of ESOP (Employee Stock Ownership Program), Interest Rates, InstitutionalOwnership on Financial Performance in Property and Real Estate Companies listed on the Indonesia Stock Exchange. His research is in theSPSS application. The population in this study were 65 Property and Real Estate Companies listed on the Indonesian Stock Exchange.The sample for this research consisted of35 financialreports. The model is multiple linear regression. The result is that ESOP (Employee StockOwnership Program) and interest rates have no effect on financial p

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Bangun, Nurainun, F. X. Kurniawan Tjakrawala, Kurniati W. Andani, and Linda Santioso. "The Effect of Financial Leverage, Employee Stock Ownership Program and Firm Size on Firm Performance of Companies Listed in Indonesia Stock Exchange." International Business and Accounting Research Journal 1, no. 2 (2017): 82. http://dx.doi.org/10.15294/ibarj.v1i2.7.

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The purpose of this research is to examine and to obtain affected empirical evidence of financial leverage, firm size and employee stock ownership program (ESOP) to firm performance in manufacturing company in Indonesian Stock Exchange on 2013-2015. Independent variables in this research are Financial Leverage (DER), Firm Size and Employee Stock Ownership Program (ESOP). Dependent variables in this research are Return on Assets (ROA) and Return On Equity (ROE). The results Showed that the simultaneous test of three independent variables Significantly afftected to the ROA and ROE. The partial t

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Pan, Huifen. "Employee ownership in China: new evidence." Journal of Participation and Employee Ownership 7, no. 1 (2024): 46–65. http://dx.doi.org/10.1108/jpeo-01-2021-0001.

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PurposeWith specific big-data mining worked on 61,522 firm announcements, we discovered a diverse Employee Share Ownership Plan (ESOP) model in China, called “Core-Staff-Based ESOPs.” Distinct from standard broad-based or executive-based ESOPs, these specific targeted-broad-based ESOPs require the qualification for participants, involving the participation of senior executives, directors at the middle level and any other employees that make particular contributions to firms. We take on the challenge to analyze ESOP mechanism, firm characteristics and performance in the view of organizational e

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Cúlacháin, Maoilíosa Ó. "The eircom employee share ownership plan (ESOP)." Transfer: European Review of Labour and Research 8, no. 1 (2002): 114–18. http://dx.doi.org/10.1177/102425890200800116.

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Zhou, Lei, Feng Wei, and Yu Kong. "Do Employee Stock Ownership Plans Affect Corporate Social Responsibility? Evidence from China." International Journal of Environmental Research and Public Health 19, no. 3 (2022): 1055. http://dx.doi.org/10.3390/ijerph19031055.

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Few studies have discussed the relationship between employee stock ownership plans (ESOPs) and corporate social responsibility (CSR). Using a sample of 895 A-share public firms in China, this research examines the effects of ESOPs on CSR, and the moderating effects of wedge structure and firm size on this relationship. This research mainly used the OLS model to test the research hypotheses, and all regressions were performed in Stata15. The results show that the ESOPs of Chinese public firms provide external economic incentives and internal psychological incentives for employees, increase thei

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Hasyim, Fuad, and Hafsotul Munawwaroh. "ANTESEDEN KINERJA KEUANGAN PADA BANK YANG TERDAFTAR DI BEI." Jurnal Ekonomi Manajemen 7, no. 1 (2022): 10–24. http://dx.doi.org/10.37058/jem.v7i1.2008.

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ABSTRACTThe success of a company on business strategy can be seen from its financial performance. Financial performance measures the extent to which a company's health level during its operational activities. This study aims to examine the effect of employee stock ownership programs (ESOP), operational efficiency ratio (OER), debt to asset ratio (DAR), and risk (NPL) on financial performance with proxy Return on Asset (ROA). Population in this study are banking sector companies listed on the Indonesia Stock Exchange in 2016-2018. Sampling method used was purposive sampling method and obtained

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