Broad-based Employee Stock Options in US 'New Economy' Firms

This paper compares the performance of 229 ‘New Economy’ firms offering broad‐based stock options to that of their non‐stock option counterparts. A simple comparison of these firms reveals that the former have higher shareholder returns, Tobin’s q and new knowledge generation. Multivariate analysis...

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Published in:British journal of industrial relations 2002-06, Vol.40 (2), p.273-294
Main Authors: Sesil, James C., Kroumova, Maya K., Blasi, Joseph R., Kruse, Douglas L.
Format: Article
Language:English
Subjects:
Comparative analysis
Economic performance
Employee stock ownership plans
Employees
Enterprises
ESOP
Financial performance
Labour relations
Options on stocks
R&D
Research & development
Stock options
Studies
U.S.A
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container_issue 2
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container_title British journal of industrial relations
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creator Sesil, James C.
Kroumova, Maya K.
Blasi, Joseph R.
Kruse, Douglas L.
description This paper compares the performance of 229 ‘New Economy’ firms offering broad‐based stock options to that of their non‐stock option counterparts. A simple comparison of these firms reveals that the former have higher shareholder returns, Tobin’s q and new knowledge generation. Multivariate analysis using panel data also suggests that the adoption of a stock option plan results in higher levels of value added per employee. However, we do not find evidence that these plans result in superior growth in Tobin’s q or new knowledge generation.
doi_str_mv 10.1111/1467-8543.00232
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source International Bibliography of the Social Sciences (IBSS); Wiley; PAIS Index; Humanities Index; BSC - Ebsco (Business Source Ultimate)
subjects Comparative analysis
Economic performance
Employee stock ownership plans
Employees
Enterprises
ESOP
Financial performance
Labour relations
Options on stocks
R&D
Research & development
Stock options
Studies
U.S.A
title Broad-based Employee Stock Options in US 'New Economy' Firms
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