Clark, Roger W.; Philippatos, George C.; Shrieves, Ronald E. - In: Managerial Finance 23 (1997) 3, pp. 19-38
The conventional wisdom regarding the rationale for employee stock ownership plans (ESOPS) holds that such plans provide incentives for improved worker productivity. This view minimizes the employees' portfolio problem inherent in ESOP participation — employment risk for ESOP participants is...