ESOPs: financial performance and federal tax incentives
Article Abstract:
Previous research has suggested a relationship between the establishment of employee stock ownership plans (ESOPs) and post-adoption improvements in financial performance - presumably as a result of the alignment of employee and stockholder interests. I examine the role of tax incentives on the financial performance of ESOP firms. The results indicate that ESOPs formed prior to the availability of tax incentives provided by the Tax Reform Act of 1986 have experienced significantly greater improvement in financial performance than ESOPs established after passage of the Act. The results are consistent with my hypothesis and suggest that even though ESOPs can be utilized to reduce a firm's federal income tax liability, ESOPs may be more useful to management to reduce agency throughout the firm. (Reprinted by permission of the publisher.)
Publication Name: Journal of Labor Research
Subject: Human resources and labor relations
ISSN: 0195-3613
Year: 1998
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Heady haze in ivory towers
Article Abstract:
Some postgraduates regard higher education as a way to enjoy an easy lifestyle. They enjoy short working hours, long holidays and an active social life, and are able to avoid any possibility of having to find a job. They deliberately exploit the funding system at a time when other students who seriously wish to undertake further postgraduate study are unable to obtain funding. Other postgraduate students simply become addicted to studying.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1996
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Appalachian reunion
Article Abstract:
A description is presented of the experiences of six friends who completed the 2,167-mile long Appalachian Trail in 1979. They met again in 1999 in order to climb Mount Katahdin.
Publication Name: National Geographic Traveler
Subject: Travel, recreation and leisure
ISSN: 0747-0932
Year: 2000
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