THE ELUSIVE ESOP PRODUCTIVITY LINK EVIDENCE FROM UNITED-STATES FIRM-LEVEL DATA
成果类型：
Article
署名作者：
KUMBHAKAR, SC; DUNBAR, AE
署名单位：
University of Texas System; University of Texas at San Antonio
刊物名称：
JOURNAL OF PUBLIC ECONOMICS
ISSN/ISSBN：
0047-2727
DOI：
10.1016/0047-2727(93)90024-N
发表日期：
1993
页码：
273-283
关键词：
摘要：
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.
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