Pugh, William N.; Oswald, Sharon L.; John S. Jahera Jr. - In: Managerial and Decision Economics 21 (2000) 5, pp. 167-180
Employee Stock Ownership Programs (ESOPs) have long been promoted as a motivational tool: employees become profit-minded owners. Latterly, however, more ESOPs are being used as part of a takeover defense: here the ESOPs main purpose is to put more company stock in friendly hands-the...