Is Employee Ownership so Senseless (notice n° 167093)
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| 000 -LEADER | |
|---|---|
| fixed length control field | 01335cam a2200193 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250112034209.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Aubert, Nicolas |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | Is Employee Ownership so Senseless |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2009.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 38 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | Since Enron and the ruin of thousands of its employees, employee ownership is harshly criticized. Investing savings in employer’s stock would be equivalent to bet on only one asset. Moreover, employee ownership’s debated efficiency would not justify employers to grant company stock to their employees. Still, employee ownership is put in place by thousands of companies and withhold by millions of employees throughout the world. This paper considers a moral hazard setting where a risk neutral entrepreneur grants company stock to its risk averse employee as an incentive. We show that there is an optimal transfer of employee ownership that satisfies employee’s risk preference and has an incentive effect. We thus bring about rational argument in favor of employee ownership. |
| 700 10 - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Grand, Bernard |
| Relator term | author |
| 700 10 - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Lapied, André |
| Relator term | author |
| 700 10 - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Rousseau, Patrick |
| Relator term | author |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Finance | 30 | 2 | 2009-12-01 | p. 5-29 | 0752-6180 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/journal-finance-2009-2-page-5?lang=en">https://shs.cairn.info/journal-finance-2009-2-page-5?lang=en</a> |
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