Does Industry - Level Factors Influence the Effect of Employee Ownership?--Evidence from Large Listed Companies

Ziyue Dai

《Frontiers in Economics and Management》 3卷2期 (2022/02) Pp. 135-149

https://doi.org/10.6981/FEM.202202_3(2).0018

摘要

Based on the employee ownership data of large, listed companies, the paper studies the influence of industry-level factors on the effectiveness of employee ownership. We assume that compared with enterprises in other industries, there is a stronger positive correlation between employee ownership and enterprise performance (ROA) in industries with higher volatility and prosperity. By applying a multilevel linear model, our results support part of the hypothesis. Research shows that employee ownership is positively correlated with enterprise performance, and industry risk will affect the effectiveness of employee ownership. This paper explains the factors affecting the effectiveness of employee plans from the industry level and provides suggestions for the effective use of ESOP.

關鍵字

Employee Ownership ； Industry Risk ； Industry Prosperity ； Firm Performance

參考文獻

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