Within this webpage are the records of the The Foundation for Enterprise Development (FED) Employee Ownership Bibliographic Database listed as Comma Seperated Value (CSV) text

I differentiate the fields provided depending on the type of scholarship. For journal articles, the values separated by the commas are the following fields: "Author", Year, "Title", Subtitle, Reference Type, Journal, Start Page,   Pages, "Abstract", Keywords.

For reports, the values separated by the commas are the following fields: "Author",  Year, "Title",  Subtitle, Reference Type, Institution, Pages, "Abstract",   Keywords. For evertying else, the generic reord  fields are:  "Author", Year, "Title", Subtitle, Reference Type, Publisher, Pages, "Abstract", Keywords.
 
As of October 12, 2011, there are 116 records:
 
"Abrams, J. and Greider, W.",2008,"Companies We Keep: Employee Ownership and the Business of Community and Place",Book,Chelsea Green Publishing,
"Abrams, J. and Grieder, W.",2005,"The Company We Keep: Reinventing Small Business for People, Community, and Place ",Book,Chelsea Green Publishing,
"Baddon, L., Hunter, L., Hyman, J., Leopold, J. and Ramsay, H.",1989,"People's capitalism?: a critical analysis of profit-sharing and employee share ownership",Book,Routledge,
"Ben-Ner, A. and Jones, D. C.",1995,"Employee participation, ownership, and productivity: A theoretical framework",Journal Article,Industrial Relations: A Journal of Economy and Society,532-554,"Employee participation, ownership, productivity, theory, framework,
"Berry, L. L.",1999,"Discovering the soul of service: The nine drivers of sustainable business success",Book,Free Press,
"Beyster, J. R. and Economy, P.",2007,"The SAIC solution: how we built an $8 billion employee-owned technology company",Book,Wiley,
"Blasi, J., Kruse, D. and Bernstein, A.",2003,"In the company of owners: the truth about stock options (and why every employee should have them)",Book,Basic Books,
"Blasi, J. B., Conte, M. and Kruse, D.",1996,"Employee stock ownership and corporate performance among public companies",Journal Article,Industrial and Labor Relations Review,60,19,"This study compares the corporate performance in 1990/91 of two groups of public companies: those in which employees owned more than 5% of the company's stock, and all others. The results of the analysis, which looks at profitability, productivity, and compensation, are consistent with neither negative nor highly positive views of employee ownership, but where differences are found, they are favorable to companies with employee ownership, especially among companies of small size. The circumstances in which employee ownership was used- specifically, whether it was part of a wage/benefit concession package and whether it was involved in a takeover threat-do not appear to have had a significant effect on the 1990 performance levels or 11980-90 performance growth of the firms. Although the authors caution that the data do not permit clear tests of causality, these results are broadly consistent with those of past studies. ",Employee ownership,Employee stock options, BUSINESS enterprises, STOCK ownership, WAGES,
"Blasi, J. R.",1988,"Employee ownership: revolution or ripoff?",Book,Ballinger Pub. Co.,
"Blasi, J. R. and Kruse, D.",1992,"The new owners: The mass emergence of employee ownership in public companies and what it means to American business",Book,HarperCollins,
"Blinder, A. S.",1990,"Paying for productivity: A look at the evidence",Book,Brookings Institution Press,
"Block, P.",1993,"Stewardship. Choosing Service Over Self-interest, Berrett",Book,Koehler Publishers, San Francisco,
"Blonchek, R. M. and Martin, F. O. N.",1999,"Act Like an Owner: Building an Ownership Culture",Book,John Wiley,
"Bonin, J., Jones, D. and Putterman, L.",1993,"Theoretical and empirical studies of producer cooperatives: Will ever the twain meet?",Journal Article,Journal of Economic Literature,1290-1320,"
"Brown, J. R., Liang, N. and Weisbenner, S.",2006,"401 (k) matching contributions in company stock: Costs and benefits for firms and workers",Journal Article,Journal of Public Economics,1315-1346,"This paper examines why some employers provide matching contributions to 401(k) plans in company stock and explores the implications of match policy for employee retirement wealth. Unlike stock option grants to non-executives, a firm's decision to match in company stock does not appear to be strongly correlated with cash flow or with measures of the benefits of aligning incentives of employees and employers. Rather, we find evidence that firms are more likely to provide the match in company stock if firm risk is low (i.e. lower stock price volatility and lower bankruptcy risk) and employees are also covered by a defined benefit plan. These findings suggest that firms consider the retirement security of their workers in making the match decision, either because firms want to minimize the risk of violating their fiduciary responsibility or because employees more fully value company stock at companies with lower firm-specific risk. Evidence also indicates that firms may want to match in company stock to boost employee ownership, perhaps to help deter takeovers, or because of the tax advantages for dividends on the company stock match. Simulation results suggest that sufficiently risk-tolerant individuals actually prefer a 401(k) plan at a company with a company stock match to a plan at a company with an unrestricted match, unless the equity premium is reduced substantially. ",Pension; 401(k) plan; ESOP; Company stock; Match policy,
"Buchele, R., Kruse, D., Rodgers, L. and Scharf, A.",2009,"Show Me the Money: Does Shared Capitalism Share the Wealth?",Journal Article,NBER working paper,
"Buchko, A. A.",1992,"Employee ownership, attitudes, and turnover: An empirical assessment",Journal Article,Human Relations,711,"Previous research on employee-owned organizations has been limited in time frame and in the outcomes examined, which have been primarily attitudinal measures. This study examined the effects of an employee ownership program on employee attitudes and actual turnover behavior over an extended time period. The results indicated that employees with greater perceived influence as a result of the ownership program and those with a greater financial value in the ownership program were more satisfied with the ESOP program, more committed to the organization, had lower turnover intention, and were less likely to exit the company. ",    employee ownership
    satisfaction
    commitment
    turnover,
"Buchko, A. A.",1993,"The Effects of Employee Ownership on Employee Attitudes - An Integrated Causal Model and Path-Analysis",Journal Article,Journal of Management Studies,633-657,"Research on employee-owned organizations to date has utilized alternative theoretical perspectives and has examined varying attitudinal outcomes. This study reviews previous research and attempts to integrate the findings into a causal model that combines the results of prior studies. The resulting causal model was tested empirically with a sample (N = 181) of employees from a firm that adopted an employee ownership programme. Financial value of the ESOP was positively related to satisfaction with the ESOP plan, but was not related to other attitudinal variables. Perceived influence from ownership was positively related to ESOP satisfaction, job satisfaction, and organizational commitment. ESOP satisfaction, job satisfaction, and organizational commitment were negatively related to turnover intention. ESOP satisfaction and turnover intention were related to actual employee turnover behaviour over an extended time period.",    EMPLOYEE ownership
    EMPLOYEES -- Attitudes -- Research
    MANAGEMENT -- Employee participation
    CORPORATE culture
    EMPLOYEE loyalty
    JOB enrichment
    ORGANIZATIONAL commitment
    LABOR turnover
    ANTITAKEOVER strategies
    PERFORMANCE -- Management
    FINANCIAL performance
    INDUSTRIAL relations,
"Buck, T., Filatotchev, I., Wright, M. and Zhukov, V.",1999,"Corporate Governance and Employee Ownership in an Economic Crisis: Enterprise Strategies in the Former USSR",Journal Article,Journal of Comparative Economics,459-474,"This paper considers the role of employee ownership and other ownership variables in the corporate governance of privatized companies experiencing acute economic crisis in three republics of the former Soviet Union. After controlling for nonownership influences, their impact is estimated in the context of needed labor and capital retrenchment decisions. The influence of employee (and managerial) ownership seems to be fairly benign, although results show that corporate outside shareholders are associated with more active asset retrenchment strategies in crisis situations. Nongovernance variables, particularly the extent of crisis at an industry level, are shown to provide a more significant and consistent influence",former Soviet Union
privatization
corporate governance
employee ownership
retrenchment,
"Chiu, W. C. K., Huang, X. and Lu, H. L.",2005,"When Marx Borrows from Smith: the ESOP in China",Journal Article,Journal of Contemporary China,761 - 772,"The employee stock ownership plan (ESOP), a capitalist practice, was borrowed for the purpose of rescuing and even consolidating socialist state-owned enterprises during the drive in China to reform ownership. More precisely, ESOP was implemented to bail out failing firms, raise funds, increase work motivation, reduce agency costs, and promote industrial democracy. The findings of a case study of three Chinese state-owned enterprises suggest that some short-term goals were basically achieved, but the accomplishment of the other long-term goals was somewhat problematic. Based on our initial findings, recommendations are put forward for future research and practice.",
"Conte, M.",1990,"Performance Effects of Employee Ownership Plans",Book Section,Brookings Inst,143-156,"
"Conte, M., Blasi, J., Kruse, D. and Jampani, R.",1996,"Financial returns of public ESOP companies: Investor effects vs. manager effects",Journal Article,Financial Analysts Journal,51-61,"
"Conte, M. and Tannenbaum, A. S.",1978,"Employee-owned companies: Is the difference measurable",Journal Article,Monthly Lab. Rev.,23,"    Presents findings of a survey of corporations in the United States which show that employee ownership may be associated with better attitudes and higher productivity and profits. Analysis of several aspects of performance in a variety of employee-owned companies; Forms of employee ownership; Link between employee ownership and profitability; Industrial relations climate in employee-owned companies.",    EMPLOYEE ownership
    EMPLOYEES -- Attitudes
    LABOR productivity,
"Cook, L. R.",2005,"Financial Valuation of Employee Stock Ownership Plan Shares",Book,John Wiley & Sons,
"Cotton, J. L., Vollrath, D. A., Froggatt, K. L., Lengnick-Hall, M. L. and Jennings, K. R.",1988,"Employee participation: Diverse forms and different outcomes",Journal Article,The Academy of Management Review,8-22,"
"Craig, B., Pencavel, J., Farber, H. and Krueger, A.",1995,"Participation and productivity: a comparison of worker cooperatives and conventional firms in the plywood industry",Report,121-174,"none",none,
"Cramton, P., Mehran, H. and Tracy, J.",2005,"ESOP fables: the impact of employee stock ownership plans on labor disputes",Journal Article,Federal Reserve Bank of New York Working Paper,By the early 1990s employee stock ownership plans (ESOPs) had become as prevalent in unionized as in nonunionized firms. However, little research has been devoted to examining the implications of ESOPs for collective bargaining, or cross ownership more generally. We extend the signaling model of Cramton and Tracy (1992) to allow partial ownership by the union. We demonstrate that ESOPs create incentives for unions to become weaker bargainers. As a result, the model predicts that ESOPs will reduce strike incidence and the fraction of labor disputes that involve a strike. We examine these predictions using U.S. bargaining data from 1970-1995.",
"D’Art, D. and Turner, T.",1999,"An Attitudinal Revolution in Irish Industrial Relations: The End of ‘Them and Us’?",Journal Article,British Journal of Industrial Relations,101-116,"
"Domadenik, P., Prašnikar, J. and Svejnar, J.",2008,"Restructuring of firms in transition: ownership, institutions and openness to trade",Journal Article,Journal of International Business Studies,725-746,"We develop a theoretical framework for defensive and strategic restructuring, and provide estimates of restructuring in privatized firms in an advanced transition economy: Slovenia. Our rich data point to both types of restructuring, as well credit rationing and bargaining with respect to investment. Privatized firms display profit-maximizing behavior, and a firm's export orientation and institutional features, such as insider vs outsider privatization, employee ownership, and employee control, do not affect the firm's employment and investment behavior. The results suggest that a major exposure to world competition induces similar economic behavior in firms with different structural and institutional characteristics.",Studies,  Economic theory,  Economic models,  Economic statistics,  Research & development--R&D,  Employee ownership,  Corporate reorganization,  Transition economies,  International trade,
"Earle, J. S. and Estrin, S.",1995,"Employee ownership in transition",Book,Center for International Security and Arms Control, Stanford University,Privatization; Employee ownership; Eastern Europe,Subtitle
"Ellerman, D.",1991,"The democratic firm: a co-operative-ESOP model",Journal Article,Worker Empowerment, the Struggle for Workplace Democracy, The Bookstrap Press, New York, NY,83-96,"
"Estrin, S. and Jones, D. C.",1991,"The Viability of Emplyee-Owned Firms: Evidence from France",Journal Article,Industrial and Labor Relations Review,323,"This study examines data on French producer cooperatives for the years 1970-79 to test the widely accepted theoretical prediction that employee-owned firms either will fail as commercial undertakings or degenerate into capitalist firms as the proportion of hired workers who are not members of the cooperative firm increases. Contrary to this prediction, the authors find a high rate of survival among the producer cooperatives studied, with many cooperatives still healthy after fifty years of operation, and they find no evidence of degeneration —either in terms of the proportion of hired workers, productivity, profitability, or capital-intensity. The findings do, however, suggest that the firms' financial structure became increasingly inefficient with age.",cooperatives, stability, financial structure, efficiency, France,
"Freeman, R. E.",1984,"Strategic management: A stakeholder approach",Book,Pitman,
"Freeman, S.",2008,"Effects of ESOP Adoption and Employee Ownership: Thirty years of Research and Experience",Report,University of Pennsylvania Center for Organizational Dynamics,
"French, J. L.",1987,"Employee perspectives on stock ownership: financial investment or mechanism of control?",Journal Article,The Academy of Management Review,427-435,"This paper explores employee ownership as a financial investment rather than a mechanism of control Viewed from such a perspective, relations among employee ownership, satisfaction, and desired influence are more complex than supposed. Employee owners' satisfaction with the firm and their jobs depends, in part, on their perceptions of the firm's financial performance and of the effectiveness of other employees. Dissatisfaction may increase efforts by employee owners to influence decision making. [ABSTRACT FROM AUTHOR]",    EMPLOYEE ownership
    INVESTMENTS
    EMPLOYEES -- Economic aspects
    JOB satisfaction
    FINANCIAL performance
    INCENTIVES in industry
    EMPLOYEE stock options
    BUSINESS enterprises -- Finance
    PROFIT-sharing
    EMPLOYEE fringe benefits,
"French, J. L. and Rosenstein, J.",1984,"Employee ownership, work attitudes, and power relationships",Journal Article,The Academy of Management Journal,861-869,"Relationships of employee equity in the company with work attitudes, information, and desired influence were examined in a prosperous firm converted to employee ownership by its management. Questionnaire data suggested that relationships of shareholding with organizational identification and information about the firm's finances were moderated by employees' authority and status in the firm.",
"Gage, D.",2004,"The partnership charter: how to start out right with your new business partnership (or fix the one you're in)",Book,Basic Books,
"GAO, U.",1987,"Employee stock ownership plans: little evidence of effects on corporate performance",Report,US General Accounting Office,
"Gates, J. R. and Schmidheiny, S.",1999,"The ownership solution: Toward a shared capitalism for the twenty-first century",Book,Basic Books,
"Greenberg, E. S.",1986,"Workplace democracy: The political effects of participation",Book,Cornell University Press,
"Greenberg, E. S. and Grunberg, L.",1995,"Work alienation and problem alcohol behavior",Journal Article,Journal of Health and Social Behavior,83-102,"Using a sample of production workers from union, nonunion, producer cooperative, and employee stock ownership plan (ESOP) wood products mills in the Northwest, we test the general proposition that work alienation, defined as low job autonomy, low use of capacities, and lack of participation in decision-making in the workplace, is associated with heavy drinking and negative consequences from drinking. We find that the general proposition is supported, but that the pathways tend to be indirect rather than direct, mediated by feelings of job satisfaction and respondents' beliefs about the utility of drinking as a means of coping ",
"Guedri, Z. and Hollandts, X.",2008,"Beyond dichotomy: the curvilinear impact of employee ownership on firm performance",Journal Article,Corporate Governance: An International Review,460-474,"
"Hallock, D., Salazar, R. and Venneman, S.",2004,"Demographic and attitudinal correlates of employee satisfaction with an ESOP",Journal Article,British Journal of Management,321-333,"
"Hammer, T. H., Landau, J. C. and Stern, R. N.",1981,"Absenteeism when workers have a voice: The case of employee ownership",Journal Article,Journal of Applied Psychology,561,"Used R. M. Steers and S. R. Rhodes's (see record 1979-09970-001) model as a framework for examining patterns of absenteeism and their predictors among 112 workers (mean age 44 yrs) in an employee-owned organization. The focus of the study was the effect of job satisfaction on voluntary absenteeism, which is traditionally thought to be either negative or canceled out by pressures to attend work. An alternative hypothesis is offered by A. O. Hirschman's (1970) exit, voice, and loyalty (EVL) model, which suggests that workers who are loyal to their employer and believe that they can improve undesirable conditions will come to work when they are dissatisfied because they can voice their complaints instead of withdrawing silently. Results show that absenteeism was affected primarily by organizational and financial commitment but that job satisfaction was not a predictor. Voluntary absenteeism declined after transfer to employee ownership but was offset by an increase in involuntary withdrawal as employees began publicly to legitimize their absenteeism. Results suggest that a better understanding of the psychological processes leading to temporary withdrawal could come from an examination of the costs to the worker of being present, in addition to the traditional focus on the rewards of working.",job satisfaction, absenteeism, workers in employee-owned organization,
"Hammer, T. H. and Stern, R. N.",1980,"Employee ownership: Implications for the organizational distribution of power",Journal Article,The Academy of Management Journal,78-100,"Theorists and researchers in organizational behavior have a continuing interest in the distribution of power and control among members of work organizations. Of particular interest is the ownership-control relationship when workers without previous ownership rights gain substantial amounts of stock in the company in which they are employed. It can be hypothesized that the larger the number of shares an employee owns in the organization, the more he views himself as an owner of the firm. In addition, the more capital a worker has invested, the more he should view himself as a partner with management in the enterprise. Further, he will want to exercise more control over decision making without losing the power he previously had over other issues. It can also be asserted that members of the nonmanagerial unionized white-collar workforce in employee-owned firms will not want a distribution of control in decision making in which employees participate as a group to a system of control based on collective bargaining, but unionized blue-collar workers will prefer union control over employee participation external to collective bargaining.Workers' and managers' views of their roles as employee owners, financial partners, and co-decision makers were examined in a furniture factory bought by its employees through a corporate divestiture. Worker owners generally viewed management as the true owners of the firm, did not perceive themselves as partners, and preferred to favor management over power equalization. ",Workers,  Worker codetermination,  Studies,  Roles,  Power,  Perceptions,  Ownership,  Organizational behavior,  Managers,  Employees,  Distribution,  Decision making,  Control,
"Hams, B.",2011,"Ownership Thinking: How to End Entitlement and Create a Culture of Accountability, Purpose, and Profit ",Book,
"Hauser, J. R., Simester, D. I. and Wernerfelt, B.",1994,"Customer satisfaction incentives",Journal Article,Marketing Science,327-350,"Customer satisfaction incentive schemes are increasingly common in a variety of industries. We offer explanations as to how and when incenting employees on customer satisfaction is profitable and offer several recommendations for improving upon current practice. Faced with employee groups (including managers) who may have shorter time horizons than the firm, such systems enable a firm to use customer reaction to monitor implicitly how employees allocate effort between the short and long terms. These systems can be used to encourage employees to make tradeoffs that are in the best interests of the firm. We derive optimal reward systems for an equilibrium in which the firm maximizes profits, employees maximize their expected utility, and customers choose purchase quantities based on initial reputations, employee efforts (both ephemeral and enduring), and price. The formal model shows how the reliance placed on customer satisfaction in an incentive scheme should depend upon the precision with which customer satisfaction is measured and the extent to which employees focus on the short term. Recommendations for improving upon current practice include: measure customers, former customers, and potential customers; measure satisfaction with competitors' products; disaggregate satisfaction to reflect better the performance of employee groups; and, when different customer segments have different switching costs or they vary in the precision with which their satisfaction can be measured, then measure the segments separately and assign different weights in the incentive plan. Throughout the paper we interpret the formal results based on our experience with actual firms and the current literature. We close with a brief discussion of on-going research at field sites. ",
"Heskett, J. L., Sasser, E. W. and Wheeler, J.",2008,"The ownership quotient: putting the service profit chain to work for unbeatable competitive advantage",Book,Harvard Business School Pr,
"Howitt, I. A. and Rosen, C.",2010,"Employee Stock Ownership Plan Answer Book",Book,Walters Kluwer,
"Iqbal, Z. and Hamid, S. A.",2000,"Stock price and operating performance of ESOP firms: A time-series analysis",Journal Article,Quarterly Journal of Business and Economics,25-48,"
"Jones, D.",1993,"The productivity effects of employee ownership within command economies: Evidence from Poland",Journal Article,Managerial and Decision Economics,475-485,"
"Jones, D. and Kato, T.",1995,"The Productivity Effects of ESOP Plans and Bonuses: Evidence from Japanese Panel Data",Journal Article,The American Economic Review,391-414,"Examines the effects of employee stock-ownership plans (ESOP) and bonuses on a company's productivity. Institutional information on Japanese ESOP; Observation that ESOP introduction will lead to a four to five percent increase in productivity; Whether the productivity effect of bonuses is enhanced by the existence of ESOPs.",    EMPLOYEE stock options
    INDUSTRIAL productivity,
"Jones, D. C. and Kato, T.",1993,"The Scope, Nature, and Effects of Employee Stock Ownership Plans in Japan",Journal Article,Industrial and Labor Relations Review,352-367,"Using data for various years, including new data for 1973 through 1984, the scope, nature, determinants, and effects of employee stock ownership plans (ESOP) in Japan are examined. In 1988, of firms listed on Japan's 8 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 and labor ratio was relatively low, and employment growth was relatively fast. Evidence is also found that ESOPs enhanced enterprise productivity. It is argued that ESOPs have played an important and largely overlooked role in the success of the Japanese economy over the past 2 decades. ",Statistical analysis,  Implications,  Factors,  Effects,  ESOP,  Characteristics,  Research,  Employee stock ownership plans,  Economic statistics,
"Kelly, J. and Kelly, C.",1991,"Them and Us’: Social Psychology and ‘The New Industrial Relations",Journal Article,British Journal of Industrial Relations,25-48,"This article sets out to examine the impact of ‘new industrial relations’ techniques on worker attitudes to management and to worker-management relations. We found 17 case studies of share schemes, profit-sharing, quality circles and autonomous work-groups which reported relevant evidence on worker attitudes. Although workers often welcome new industrial relations techniques, there is very little evidence of any impact on ‘them and us’ attitudes. Drawing on social-psychological theories of attitude change, the persistence of ‘them and us’ attitudes can be explained by the ways in which new industrial relations techniques have been implemented and managed in organisations. Workers have often lacked choice over participation in new schemes; there has been a lack of trust between the parties involved, together with inequality in status and benefits and a lack of institutional support for the schemes among senior management. It is argued that these conditions explain the failure of new organisational initiatives to bring about changes in ‘them and us’ attitudes.",    INDUSTRIAL relations
    EMPLOYEES -- Attitudes
    MANAGEMENT -- Employee participation
    INDUSTRIAL management
    PROFIT-sharing
    QUALITY circles,
"Kelso, L. O. and Adler, M. J.",1958,"The capitalist manifesto",Book,Random House,
"Kelso, L. O. and Adler, M. J.",1961,"The new capitalists: a proposal to free economic growth from the slavery of savings",Book,Greenwood Press,
"Kelso, L. O. and Kelso, P. H.",1967,"How to turn eighty million workers into capitalists on borrowed money",Book,Random House,
"Kelso, L. O. and Kelso, P. H.",1986,"Democracy and economic power: extending the ESOP revolution",Book,Ballinger Publishing Company,
"Klein, K. and Hall, R.",1988,"Correlates of employee satisfaction with stock ownership: Who likes an ESOP most",Journal Article,Journal of Applied Psychology,630-638,"
"Klein, K. J.",1987,"Employee stock ownership and employee attitudes: A test of three models",Journal Article,Journal of Applied Psychology,319,"Results of a test of three alternative models of the conditions necessary for employee ownership to positively influence employee attitudes are reported. Based on a study of 37 employee stock ownership plan (ESOP) companies (N of individuals=2,804), results support hypotheses for the extrinsic and instrumental satisfaction models. Average company ESOP satisfaction and organizational commitment are high and average company turnover intention is low when the ESOP provides substantial financial benefits to employees, when management is highly committed to employee ownership, and when the company maintains an extensive ESOP communications program. In contrast, the results provide no support for the intrinsic satisfaction model of ESOP effects. (PsycINFO Database Record (c) 2010 APA, all rights reserved)",
"Kruse, D.",1984,"Employee ownership and employee attitudes: Two case studies",Book,Norwood Editions,
"Kruse, D.",2002,"Research evidence on the prevalence and effects of employee ownership",Journal Article,Journal of Employee Ownership Law and Finance,65-90,"
"Kruse, D. and Blasi, J.",1997,"Employee ownership, employee attitudes, and firm performance: a review of the evidence",Book Section,JAI Press,113-151,"
"Kruse, D., Blasi, J. and Park, R.",2008,"Shared Capitalism in the US Economy? Prevalence, Characteristics, and Employee Views of Financial Participation in Enterprises",Journal Article,NBER working paper,
"Kruse, D., Freeman, R., Blasi, J., Buchele, R., Scharf, A., Rodgers, L. and Mackin, C.",2003,"Motivating employee-owners in ESOP firms: Human resource policies and company performance",Generic,National Bureau of Economic Research Cambridge, Mass., USA,
"Kruse, D., Freeman, R., Blasi, J., Building, A., Square, G., Center, L. and Street, H.",2008,"Do Workers Gain by Sharing? Employee Outcomes Under Employee Ownership, Profit Sharing, and Broad-based Stock Options",Journal Article,NBER working paper,
"Kruse, D., Freeman, R. B. and Blasi, J. R.",2011,"Shared Capitalism at Work: Employee ownership, profit and gain sharing, and broad-based stock options",Book,University Of Chicago Press,
"Kruse, D. L.",1996,"Why Do Firms Adopt Profit Sharing and Employee Ownership Plans?",Journal Article,British Journal of Industrial Relations,515-538,"Profit-sharing and employee ownership in companies have attracted considerable interest, yet there has been little research on factors predicting the adoption and maintenance of these plans. This study uses new data from a survey of 500 US public companies, and panel data on corporate financial variables, to examine factors predicting the presence and adoption of profit-sharing and employee stock ownership plans (ESOPs) in the 1975–91 period. Several findings support productivity-related motivations for such plans (including higher R&D levels among old profit-sharing firms, and recent adoption of job enrichment programmes among new profit-sharing firms), while others support flexibility-related motivations (including higher variance in profits prior to the adoption of profit-sharing plans and ESOPs), Unionized firms were less likely to have either type of plan in 1975, but equally likely to adopt them subsequently (often in concessionary contracts). Comparisons of cross-sectional and panel results illustrate advantages of panel data in disentangling the causes and effects of profit-sharing and ESOPs. ",    PROFIT-sharing
    EMPLOYEE ownership
    PUBLIC companies
    CORPORATIONS -- Finance
    STOCK ownership
    CORPORATE profits,
"Kumbhakar, A. E. and Subal, C.",1993,"The elusive ESOP--productivity link: evidence from US firm-level data",Journal Article,Journal of Public Economics,273-283,"This paper investigates whether employee participation in ownership or profit-sharing in publicly held firms through an ESOP or profit-sharing plan was positively associated with productivity measures. The sample consists of firms that adopted such plans during 1982 through 1987. Production function models augmented with age variables for ESOP and profit-sharing plans were estimated using panel data procedures. The productivity effect increased with the age of the ESOP at the rate of 1.8 to 2.7 percent per annum and with the age of the profit sharing plan at the rate of 3.9 to 4.6 percent per annum.",
"Kurtz, L.",2005,"Answers to four questions",Journal Article,The Journal of Investing,125-140,"
"Lamberg, J., Savage, G. and Pajunen, K.",2003,"Strategic stakeholder perspective to ESOP negotiations: the case of United Airlines",Journal Article,Management Decision,383-393,"Employee stock ownership programs (ESOP) may become a source of competitive advantage but a threat to a firm’s survival as well. Strategic stakeholder negotiation, on the other hand, is a process through which an organization negotiates with multiple stakeholders in order to achieve a strategic goal. Such perspective helps to illustrate the importance of understanding, balancing, and managing stakeholder demands in ESOP-related negotiations. The airline industry provides an interesting arena in which to study this process. Specifically, this paper examines the various forms of stakeholder negotiations crucial to the competitive behavior of US airlines, focusing especially on employee ownership negotiations in United Airlines during",Employee stock ownership plans,  ESOP,  Airline industry,  Labor negotiations,  Case studies,  Strategic management,  Stakeholders 
"Liedtka, J. and Ogilvie, T.",2011,"Designing for Growth: A Design Thinking Toolkit for Managers ()",Book,Columbia Business School Publishing,
"Logue, J., Thomas, K., Cooper, C. and Teodosio, A.",1998,"Participatory employee ownership: how it works: best practices in employee ownership",Book,Worker Ownership Institute, Kent, Ohio,
"Logue, J. and Yates, J.",2001,"The Real World of Employee Ownership",Book,Cornell University Press,
"Logue, J., Yates, J. and Greider, W.",2002,"The real world of employee ownership",Book,Cornell University Press (ILR Press books),
"Long, R. J.",1978,"The effects of employee ownership on organizational identification, employee job attitudes, and organizational performance: A tentative framework and empirical findings",Journal Article,Human Relations,29,"Noting a paucity of research on the subject, this article attempts to explore the effects of employee ownership, concentrating on possible relationships between ownership and such variables as organizational identification, employee job attitudes, and organizational performance, and on identifying variables which may moderate these relationships. After development of a conceptual framework, empirical data obtained from study of a trucking company recently purchased by most of its employees are presented and discussed. These data support the plausibility of many of the hypothesized relationships, but do not permit strong causal inferences. Although the author tentatively concludes that employee ownership appears to have improved employee attitudes and organizational performance in this case, he stresses that much further research, in a variety of settings, specifically designed to permit causal testing of the propositions suggested here, is badly needed before firm conclusions can be drawn. ",
"Long, R. J.",1978,"The relative effects of share ownership vs. control on job attitudes in an employee-owned company",Journal Article,Human Relations,753,"Studies on the effects of employee share ownership or employee participation in decisions (or control) have tended to focus on one or the other of the two variables or have assumed that they covary. Using data from an employee-owned company, this study attempts to empirically separate and assess the relative effects of each of these on a set of dependent variables (job attitudes) which they are both thought to affect. Results indicated that employee share ownership and participation each had significant and independent effects on some job attitudes. However, little evidence of interaction effects between the two variables, which had been predicted, was found. Implications and limitations of the findings are discussed, and possible directions for future research are suggested. ",
"Long, R. J.",1978,"Employée Ownership and Attitudes toward the Union",Journal Article,Relations industrielles/Industrial Relations,237-254,"
"Long, R. J.",1979,"Desires for and patterns of worker participation in decision making after conversion to employee ownership",Journal Article,The Academy of Management Journal,611-617,"The article discusses patterns of and desires for employee participation in management and decision making after an organization has converted to employee ownership. The author notes a number of reasons why an increased level of employee participation in decision making is significant. According to the author, a significant number of nonmanagers believe that job and departmental participation in decision making had increased to due voluntary shift in management styles by supervisors. Also noted is the authors belief that nonmanagers may have little confidence in their ability to affect managerial decisions.",    MANAGEMENT -- Employee participation
    EMPLOYEE ownership
    DECISION making
    GROUP decision making
    ORGANIZATIONAL structure
    INDUSTRIAL management -- Employee participation
    MANAGEMENT science
    ORGANIZATIONAL effectiveness
    DECISION theory
    MANAGEMENT styles,
"Long, R. J.",1980,"Job attitudes and organizational performance under employee ownership",Journal Article,The Academy of Management Journal,726-737,"This paper assesses the apparent effects on job attitudes and organizational performance of recent conversions to employee ownership at three firms. Favorable effects were most evident at the firm with the highest employee ownership and least evident at the firm with the lowest. The concept of employee participation in decision making is believed to play a key role in these outcomes. ",    EMPLOYEE ownership
    EMPLOYEES -- Attitudes
    WORK attitudes
    ORGANIZATIONAL behavior
    DECISION making
    NEW business enterprises
    LABOR productivity
    ORGANIZATIONAL effectiveness
    GROUP decision making
    MANAGEMENT -- Employee participation,
"Long, R. J.",1981,"The effects of formal employee participation in ownership and decision making on perceived and desired patterns of organizational influence: A longitudinal study",Journal Article,Human Relations,847,"
"Long, R. J.",1982,"Worker ownership and job attitudes: A field study",Journal Article,Industrial Relations: A Journal of Economy and Society,196-215,"
"Long, R. J.",1988,"Factors affecting managerial desires for various types of employee participation in decision making",Journal Article,Applied Psychology,15-34,"
"Mano, R. and Deppe, D.",1994,"The ESOP Fable: Employees Beware!",Journal Article,Compensation & Benefits Review,44,"An employee stock ownership plan (ESOP) can provide both good retirement benefits and employer tax advantages, but legal protections for other kinds of retirement plans do not apply to ESOPs, whose assets are safe only if the employer stays in business. Contributions to the ESOP are deductible just as other pension contributions to a qualified pension plan would be. However, since the funds can be directly reinvested back into the employer tax-free, the employer benefits from a tax deduction with no negative impact on cash flow. Employees who participate in ESOPs should recognize that ESOPs are not covered by the Pension Benefit Guaranty Corp. The basic disadvantage of ESOPs is the lack of diversification of their invested funds. If the employer goes bankrupt or otherwise ceases to exist, the employees lose their jobs, their retirement plan, and any other benefits provided by the employer.",
"Marks, H.",2011,"The Most Important Thing: Uncommon Sense for the Thoughtful Investor",Book,Columbia Univ Pr,
"McHugh, P., Cutcher-Gershenfeld, J. and Bridge, D.",2005,"Examining structure and process in ESOP firms",Journal Article,Personnel Review,277-293,"
"McKeown, L.",2010,"Predictable Success: Getting Your Organization on the Growth Track--and Keeping It There ",Book,Greenleaf Book Group,
"Murphey, D. D.",1990,"Employee Ownership: A Rapidly Growing Threat to a Free Market",Magazine Article,
"Nasar, S.",1989,"The foolish rush to ESOPs",Magazine Article,141-150,"
"Nesheim, J. L.",2000,"High tech start-up: the complete handbook for creating successful new high tech companies",Book,Free Pr,
"Onaran, Y.",1992,"Workers as owners: An empirical comparison of intra-firm inequalities at employee-owned and conventional companies",Journal Article,Human Relations,1213,"Based on a sample of three employee-owned and seven conventional companies, this study empirically tests the theoretical claim that employee ownership and management reduces inequality at the firm level. Inequality is broadly defined as the unequal distribution of income, wealth, power, prestige, and privileges, as well as the existence of social boundaries between classes. Results, based on questionnaires, interviews, and study of workers' wages, reveal a more equal distribution of all of the above rewards among the worker-owners of the three employee-owned and managed companies in contrast to the distribution of those among employees of the conventional firms. Implications of results are discussed and further research suggestions are presented.",employee ownership and management, power, prestige, privileges, class boundaries 
"Park, R., Kruse, D. and Sesil, J.",2004,"Does employee ownership enhance firm survival?",Journal Article,Advances in the Economic Analysis of Participatory and Self-managed Firms,3-33,"
"Pateman, C.",1976,"Participation and democratic theory",Book,Cambridge Univ Pr,
"Pencavel, J., Pistaferri, L. and Schivardi, F.",2006,"Wages, employment, and capital in capitalist and worker-owned firms",Journal Article,Industrial and Labor Relations Review,23-44,"The authors investigate how worker-owned and capitalist enterprises differ with respect to wages, employment, and capital in Italy, the market economy with the greatest incidence of worker-owned and worker-managed firms. Estimates calculated using a matched employer-worker panel data set for the years 1982-94 largely corroborate the implications of orthodox behavioral models of the two types of enterprise. Co-ops had 14% lower wages than capitalist enterprises, on average; more volatile wages; and less volatile employment. Given the quality of the data set analyzed, the authors argue, these results can be regarded as having broad generality. ",    BUSINESS enterprises
    SMALL business
    CAPITALISTS & financiers
    SAVING & investment
    WAGES
    CAPITALISM
    ECONOMICS
    ITALY,
"Pendleton, A., Wilson, N. and Wright, M.",1998,"The Perception and Effects of Share Ownership: Empirical Evidence from Employee Buy Outs",Journal Article,British Journal of Industrial Relations,99-123,"    Presents a study that explored the relationship between employee share ownership and employee commitment. Linkages between ownership and employee attitudes; Data and methodology of the study; Results of the study; Conclusions.",    STOCK ownership
    EMPLOYEES -- Attitudes,
"Penman, S.",2011,"Accounting for Value",Book,Columbia Univ Pr,
"Pett, D.",1995,"From State Ownership To Employee Ownership: The Role of the ESOP in the UK Privatization Program",Journal Article,Journal Of Employee Ownership Law And Finance, NCEO, Fall,
"Pfeffer, J.",2005,"The myth of the disposable worker",Some management gurus say high turnover is a good thing. Are they crazy?,Magazine Article,9,"
"Pierce, J. L., Rubenfeld, S. A. and Morgan, S.",1991,"Employee ownership: A conceptual model of process and effects",Journal Article,The Academy of Management Review,121-144,"A model is developed that explicates one process through which employee ownership operates, leading to a set of social-psychological and behavioral effects. Where the formal ownership system is operationalized such that it leads to psychological ownership, a bonding or integration of the employee-owner with the organization occurs, It is through these processes that employee ownership exercises an influence upon group and individual outcomes. A set of antecedent and moderating variables to the operation of the formal ownership system is identified.",    EMPLOYEE ownership
    PERFORMANCE standards
    INCENTIVES in industry
    SURETY & fidelity insurance
    PERSONNEL management
    EMPLOYEES
    ORGANIZATIONAL research
    MANAGEMENT -- Employee participation
    SOCIAL psychology
    ORGANIZATIONAL behavior,
"Pugh, W., Jahera, J. and Oswald, S.",2005,"ESOP adoption and corporate performance: Does motive really matter",Journal Article,Journal of Business & Economic Studies,76-92,"Corporations have used Employee Stock Ownership Programs (ESOP) as part of a takeover defense by attempt to put more company stock in friendly hands. In many instances, this may be accomplished quickly through a leveraged ESOP. We find that ESOP-adopting firms that are threatened by a hostile takeover also tend to increase financial leverage (which itself is a takeover defense that suggests a multifaceted approach to takeover protection). In contrast, non-threatened firms tend not to increase leverage. We examine several control adjusted performance measures for the ESOP firms based on the threat of takeover and to the degree of leverage. We find some evidence that both non-threatened firms and non-leveraging firms have higher holding-period stock returns, higher return on assets, improved asset turnover, and increased labor productivity. There is also a tendency for non-threatened and non-leveraging firms to have higher Holding Period Returns (HPRs) in the year prior to the adoption. The results suggest clear differences in terms of the resulting operating and financial changes for ESOP firms depending upon the motive for the establishment of the ESOP.",ESOP,  Hostile takeovers,  Anti takeover strategy,  Financial performance,
"Pugh, W. N., Jahera, J. S. and Oswald, S.",1999,"ESOPs, takeover protection, and corporate decision-making",Journal Article,Journal of Economics and Finance,170-183,"
"Pugh, W. N., Oswald, S. L. and Jahera Jr, J. S.",2000,"The effect of ESOP adoptions on corporate performance: are there really performance changes?",Journal Article,Managerial and Decision Economics,167-180,"
"Quarrey, M. and Rosen, C.",1987,"How well is employee ownership working",Journal Article,Harvard Business Review,126-30,"
"Rodrick, S.",2004,""Incentive Compensation and Employee Ownership"",Book,The National Center for Employee Ownership,
"Rodrick, S. S.",2010,"An Introduction to ESOPs: How an employee stock ownership plan (ESOP) can benefit your company, its owners, and its employees ",Book,The National Center for Employee Ownership,
"Rosen, C.",1989,"The Growing Appeal of the Leveraged ESOP",Journal Article,Journal of Business Strategy,16-20,"
"Rosen, C. and Quarrey, M.",1987,"How well is employee ownership working",Journal Article,Harvard Business Review,126-132,"More than eight million workers now participate in employee stock ownership plans (ESOPs) in approximately 8,100 companies. The tax incentives designed by Congress since 1974 partly explain the growth in the number of ESOP companies, but most ESOPs reflect the view that worker ownership and participation have real advantages. How accurate is that view? How well are ESOP companies doing? To find out, the authors compared the performance of 45 ESOP companies with the performance of many other companies of similar size and in similar industries. On average, sales and employment grew at a rate 5% faster in the ESOP companies than in the non-ESOP companies during the five years after ESOPs were established. More than 73% of the ESOP companies significantly improved their performance after setting up their plans. Moreover, there is a strong correlation between corporate performance and worker participation: ESOP companies do best when they set up programs that permit workers to have a say in corporate policy. A synergy emerges between ownership and participation; ownership provides a strong incentive for employees to work productively, and programs for participation provide channels for their ideas and talents. With ESOPs performing so well, the authors suggest, more American managers should consider adopting this approach.",    EMPLOYEE ownership
    BUSINESS enterprises -- United States
    CORPORATIONS -- Growth
    EMPLOYEE stock options
    TAX incentives
    MANAGEMENT -- Employee participation
    BUSINESS planning
    ORGANIZATIONAL effectiveness
    BUSINESS -- Research,
"Rosen, C. M., Case, J. and Staubus, M.",2005,"Equity: why employee ownership is good for business",Book,Harvard Business Press,
"Rosen, C. M., Klein, K. J. and Young, K. M.",1986,"Employee ownership in America: The equity solution",Book,Lexington Books/DC Heath and Com,Employee-owned companies are often more productive, profitable, and successful at creating jobs than other firms. What makes them succeed? And why do some fail? Using the results of over 50 intensive case studies, the authors answer these questions objectively and straightforwardly. The amount of stock that the employees actually receive emerges as the most important element in the success of employee ownership. Other factors, such as employee participation in decision making and a firm's culture, can also have a crucial impact on a company's overall performance. The authors highlight specific companies that are doing extremely well and examine how they combine these and other factors to achieve their goals. The book concludes with a powerful consideration of the implications of employee ownership for the U.S. economy. (PsycINFO Database Record (c) 2010 APA, all rights reserved)",
"Ryterband, D.",1991,"The decision to implement an ESOP: strategies and economic considerations",Journal Article,Employee Benefits Journal,19-25,"
"Schuler, R. S. and Rogovsky, N.",1998,"Understanding compensation practice variations across firms: The impact of national culture",Journal Article,Journal of International Business Studies,159-177,"
"Schur, L., Eaton, A. and Rubinstein, S.",2004,"High Involvement Work Systems and Political Efficacy: A Tale of Two Departments",Conference Proceedings,9,"Carole Pateman argues that democratic participation in the workplace can increase workers’ feelings of political efficacy and political participation. We explore this issue by looking at the implementation of a high involvement work system (HIWS), using both cross-sectional and longitudinal comparisons. Political efficacy did not change overall, but  increased in one department where the HIWS was strongly supported and very successful, and decreased in another department characterized by bad labor-management relations and little management support. The results suggest that social connections, a sense that one’s work is meaningful, and positive labor-management relations can increase workers’ feelings of political efficacy. 
",
"Smith, B.",2007,"Is Employee-Ownership Better? Impact on Worker Motivation and Corporate Performance",Electronic Article,
"Stack, J. and Burlingham, B.",2003,"A stake in the outcome: Building a culture of ownership for the long-term success of your business",Book,Crown Business,
"Tye, J.",2010,"All Hands on Deck: 8 Essential Lessons for Building a Culture of Ownership",Book,Wiley,
"Yerkes, L., Decker, C., Nelson, B. and Corporation, E.",2003,"Beans Four Principles for Running a Business in Good Times Or Bad",Book,John Wiley & Sons, Inc.,
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