There seems to be a slight increase in productivity from large percentage ESOPs at not-so-numerous employee firms (NSNE firms). Smaller ESOPs increase productivity more at NSNE firms. A hypothesis worth testing would be whether unequally allocated non-voting preferred stock options improve this. Overall worker compensation increases from an ESOP
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Broad-Based Employee Stock Ownership: Motives and Outcomes
https://onlinelibrary.wiley.com/doi/10.1111/jofi.12150
There seems to be a slight increase in productivity from large percentage ESOPs at not-so-numerous employee firms (NSNE firms). Smaller ESOPs increase productivity more at NSNE firms. A hypothesis worth testing would be whether unequally allocated non-voting preferred stock options improve this. Overall worker compensation increases from an ESOP