Employee Stock Ownership Plans: Little Evidence of Effects on Corporate Performance

摘要

The report contains information about employee stock ownership plans (ESOPS). It provides a census of ESOPS, identified factors associated with a firm's decision to establish and continue an ESOP, examines the degree to which ESOPs have broadened the ownership of capital assets in the United States, and estimates the cost of tax incentives for ESOPs in 1977-83. Findings are provided on whether companies with ESOPs experience improvement in productivity or profitability and on certain factors that may influence that experience.