Optimal Employee Ownership Contracts Under Ambiguity Aversion

Aubert, Nicolas; Ameur, Hachmi Ben; Garnotel, Guillaume; Prigent, Jean‐Luc

doi:10.1111/ecin.12478

Cited by 10 publications

(38 citation statements)

References 45 publications

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“…Modern management theory is the synthesis of all modern management theories. It is a knowledge system and a group of disciplines [4]. Its basic goal is to establish a creative and dynamic adaptive system in the face of a rapidly changing modern society.…”

Section: Combine Contemporary System Management Eory Withmentioning

confidence: 99%

Enterprise Performance Optimization Management Decision-Making and Coordination Mechanism Based on Multiobjective Optimization

Zou

Bai

2021

Mathematical Problems in Engineering

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Today’s society is a society of the knowledge economy, and the competition of enterprises is the competition of talents. The rapid development of science and technology and the fierce development of market competition have made the importance of performance management increasingly prominent in corporate management. The purpose of performance management is to explore and deal with some of the effects of various factors on employee performance and to tap the potential of employees, improve employee performance, and also bring a qualitative leap to the performance of the organization. The improvement of the employee performance management level has laid a solid foundation for the improvement of the organizational performance management level. However, there are still some difficulties in the implementation of performance management in my country at this stage, and the management effect is not obvious. Therefore, building a scientific, reasonable, and complete multiobjective optimization-based corporate performance optimization management decision-making and coordination mechanism is the primary task of today’s enterprises. This article will give a brief theoretical overview of the combination of system management theory and behavior management theory, MBO target management, and KPI indicators, build a multiobjective optimization model on an effective theoretical basis, and use genetic algorithms to obtain a weak Pareto effective solution that can optimize the enterprise with consideration of performance appraisal indicators. It also builds an agency model and an analysis of employee incentive plans, which clearly shows the relationship between the company and the management and employees, conducts a cross analysis of the needs of the company’s management and employees, and puts forward the best corporate performance considering the needs of employees; among them, the multiobjective optimization of corporate performance increased by 14% under the optimal management decision.

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Section: Combine Contemporary System Management Eory Withmentioning

confidence: 99%

Enterprise Performance Optimization Management Decision-Making and Coordination Mechanism Based on Multiobjective Optimization

Zou

Bai

2021

Mathematical Problems in Engineering

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“…Within this framework, employee ownership has gained momentum. One of its main premises is that when employees enjoy the benefits of company ownership, they work more and better, which enhances the company's performance and stimulates economic growth (Aubert et al, 2018).…”

Section: Discussionmentioning

confidence: 99%

“…Other studies suggest that this kind of ownership also encourages employees to participate in other activities within the company, while reducing turnover (Aubert et al, 2014). Likewise it contributes to greater cooperation, mutual monitoring, lower levels of turnover, and absenteeism (Aubert et al, 2018), along with greater motivation and cohesion among employees (Pierce & Furo, 1990).…”

Section: Benefits Of Employee Ownershipmentioning

confidence: 99%

“…Shared capitalism encompasses a wide range of arrangements that tie workers' pay and wealth to their performance or the company's (Freeman et al, 2010), based on the idea that a better distribution of ownership benefits leads to a stronger performance, while at the same time stimulating economic growth (Aubert et al, 2018). Employee ownership is a kind of shared capitalism becoming more common in companies (Mygind, 2012;Poulain-Rehm & Lepers, 2013), especially in industrialized countries .…”

Section: Employee Ownership In Companiesmentioning

confidence: 99%

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Employee Ownership: What It Is & What It Can Achieve

Palmieri,

Cooper

2023

Employee Ownership in the Americas: A Path to Shared Prosperity

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The idea of employee ownership is not new and has existed since at least the mid-19th century. Yet, it remains a lesser-known business model in the economy at large. There are many myths and misunderstandings around what employee ownership is, and what it can achieve. We address these misconceptions by reviewing a growing body of research that contrary to common assumptions demonstrates that employee ownership garners broad political support, individuals working at employee-owned companies experience a higher level of economic well-being, and firms who adopt its varied models have better performance outcomes. The goal of this chapter is to provide academics, economic development officials, and business owners a solid, evidence-based understanding from which to explore, and put into practice, employee ownership.

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“…This is because such a plan is often adopted for non-incentive purposes like blocking acquisition bids. Aubert et al (2018) lay down the conditions of an optimal ESOP contract between an employer and an ambiguity-averse employee. Focusing on the improvement of corporate performance, the above studies mainly deal with private enterprises, but rarely discuss the ESOP of state-owned enterprises (SOEs) [1].…”

Section: Introductionmentioning

confidence: 99%

Research on the optimal equity of duo-ou enterprise based on data analysis

Tian-long

Zhang

2020

JOCM

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PurposeThis study aims to disclose how the nature of corporate ownership, stock efficiency and wage level affect the optimal proportion of employee stock.Design/methodology/approachThis paper studies three duopoly markets: two private enterprises, two state-owned enterprises (SOEs) and a private enterprise and an SOE. The competitions between the two parties are taken as a two-stage dynamic sequential game and studied through back-induction.FindingsThe results reveal that the enterprise ownership has a directly bearing on the optimal proportion of employee stock and determines whether to implement the employee stock ownership plan (ESOP) and the specific level of the plan. The optimal proportion of employee stock is positively correlated with its contribution to enterprise efficiency. There are many influencing factors on the effect of wage level on the optimal proportion of employee stock, namely, the ownership nature of ESOP implementer and efficiency difference of different nature stocks.Social implicationsThe results of this study provide policy recommendations for companies preparing to implement ESOP.Originality/valueThe research findings provide policy implications for enterprises to prepare a suitable ESOP and the reform of national equities, especially the mixed-ownership reform in China.

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Optimal Employee Ownership Contracts Under Ambiguity Aversion

Cited by 10 publications

References 45 publications

Enterprise Performance Optimization Management Decision-Making and Coordination Mechanism Based on Multiobjective Optimization

Enterprise Performance Optimization Management Decision-Making and Coordination Mechanism Based on Multiobjective Optimization

Employee Ownership: What It Is & What It Can Achieve

Research on the optimal equity of duo-ou enterprise based on data analysis

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