文档介绍：University of anizational Dynamics Working anizational Dynamics Programs1-4-2007Effects of ESOP Adoption and EmployeeOwnership: Thirty years of Research andExperienceSteven F. FreemanUniversity of Pennsylvania, ******@ Paper #07- paper is posted at :// more information, please ******@ of ESOP Adoption and Employee Ownership: Thirty years ofResearch and ExperienceAbstractAn important, but little reported development in US business has been increasing numbers of employees withownership rights in the corporation with an increasingly large economic value. es throughEmployee Stock Ownership Plans (ESOPs), which were established in 1974 partly as a response toanticipated shortfalls in Social Security, but also with the hope of invigorating the economy and distributingthe benefits of capitalism more widely through broad-based business ownership. Experience and researchindicate that ESOPs and employee ownership more generally do plish these aims, but large knowledgegaps does confirm that individual employee-owners benefit from ESOPs. es on top of, not inplace of, pensation. Employee ownership is also associated with considerably greater employmentstability and, in firms that simultaneously increase worker participation in decision making, the result isincreased job satisfaction, mitment, identification, motivation, and workplaceparticipation. High profile cases accentuate potential risks through lack of diversification, but most employee-owners are less vulnerable than confirms also that employee ownership, on average, leads to increased firm productivity, profitability,and longevity. Evidence suggests bining employee ownership with increased employee participationmay generate astounding returns on is known, however, about management of employee owned firms and few projects even attempt tojustify societal claim