share ownership, job search, quits, sickness absence, effort, gift exchange, incentives

Publication date: 29 Sep 2014 | Publication type: NIESR Discussion Paper | Theme: Employment & Social policy | Authors: Bryson, A | External authors: Freeman, R. B.
Many large listed firms offer workers the opportunity to buy shares in the firm at discounted rates through employee stock purchase plans (ESPP).  The discounted rate creates a gift exchange, where the firm hopes that workers who accept the gift reciprocate with greater loyalty and effort.  But...