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The impact of employee Stock ownership on firms' Investments and market Value

Chen, Andrew; Kensinger, John W; Terrell, Richard

Description

Although, employee stock ownership may result in increased cash flows due to enhanced organisational productivity or improved governance, this benefit is counter-balanced by the increased risk premium due to a higher correlation between the returns to the firm and the returns to human capital in general. The analysis in this paper provides a framework for optimising employee incentives from stock ownership.

CollectionsANU Research Publications
Date published: 2007
Type: Journal article
URI: http://hdl.handle.net/1885/35725
Source: International Journal of Services Technology and Management
DOI: 10.1504/IJSTM.2007.013921

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