Abstract

http://ssrn.com/abstract=2095800
 
 

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Employee Participation in Employee Share Ownership Plans: The Law, Company Objectives and Employee Motives


Michelle Brown


University of Melbourne - Department of Management

Rowan Minson


University of Melbourne - Law School

Ann O'Connell


University of Melbourne - Law School

Ian Ramsay


University of Melbourne - Law School

May 1, 2012

Australian Journal of Labour Law, Vol. 25, No. 1, pp. 1-22, 2012
U of Melbourne Legal Studies Research Paper No. 601

Abstract:     
Although Employee Share Ownership Plans (ESOPs) are widely used in Australian companies, little is known about why employees participate in these plans. Yet understanding employee motivations for share ownership has significant implications for corporate governance, human resource practice and public policy. We first review the history of ESOP regulation in Australia in order to identify Federal Government policy rationales for ESOPs. We then identify employee motives for participating in employee share plans. Two hypotheses, using data from both employee shareholders and non shareholders in Australia are investigated: that employees participate because they are motivated by financial considerations or they participate because they believe share ownership is a way of increasing their involvement in decision-making at work. We then compare employee motivations for participating in ESOPs with the policy rationales advanced by the government for its support of ESOPs. We find, based on this comparison, that there is a mismatch between the employee motivations and the government’s policy rationales and we identify the implications of this finding for public policy.

Number of Pages in PDF File: 23

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Date posted: June 29, 2012 ; Last revised: August 14, 2012

Suggested Citation

Brown, Michelle and Minson, Rowan and O'Connell, Ann and Ramsay, Ian, Employee Participation in Employee Share Ownership Plans: The Law, Company Objectives and Employee Motives (May 1, 2012). Australian Journal of Labour Law, Vol. 25, No. 1, pp. 1-22, 2012; U of Melbourne Legal Studies Research Paper No. 601. Available at SSRN: http://ssrn.com/abstract=2095800

Contact Information

Michelle Brown
University of Melbourne - Department of Management ( email )
200 Leicester Street
Melbourne, Victoria 3053
Australia
+61 3 9344 7872 (Phone)
+61 3 9349 4293 (Fax)
Rowan Minson
University of Melbourne - Law School ( email )
Victoria, 3010
Australia
Ann O'Connell
University of Melbourne - Law School ( email )
Victoria, 3010
Australia
Ian Ramsay (Contact Author)
University of Melbourne - Law School ( email )
Victoria, 3010
Australia
+61 3 8344 5332 (Phone)
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