| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w3094 |
| 来源ID | Working Paper 3094 |
| Employee Stock Ownership Plans and Corporate Restructuring: Myths and Realities | |
| Myron S. Scholes; Mark A. Wolfson | |
| 发表日期 | 1989-09-01 |
| 出版年 | 1989 |
| 语种 | 英语 |
| 摘要 | During the first six months of 1989 U.s. corporations acquired over $19 billion of their own stock to establish employer stock ownership plans (ESOPs). We evaluate the common claims that there exist unique tax and incentive contracting advantages to establishing ESOPs. Our analysis suggests that, particularly for large firms, where the greatest growth in ESOPs has occurred, the case is very weak for taxes being the primary motivation to establish an ESOP. The case is also weak for employee incentives being the driving force behind their establishment. We conclude that the main motivation for the growth of ESOPs is their anti-takeover characteristics. |
| 主题 | Macroeconomics ; Financial Economics |
| URL | https://www.nber.org/papers/w3094 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/560372 |
| 推荐引用方式 GB/T 7714 | Myron S. Scholes,Mark A. Wolfson. Employee Stock Ownership Plans and Corporate Restructuring: Myths and Realities. 1989. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w3094.pdf（292KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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