摘要：Studies indicate that the primary reason for implementing employee stock ownership plans (ESOPs) is to increase employee motivation. However, few studies have assessed the relationship between participation in ESOPs and employees perceiving that their efforts affect their company's value. Our interest in this study is to determine whether the assumptions of management about the effectiveness of ESOPs on employee motivation prove correct. By comparing survey responses to questions concerning employee perceptions, we can determine the importance of the differences that exist between employees of small and large corporations. We find that the responses of small corporation employees are usually indistinguishable from those of large corporation employees. This result is consistent with our claim that prospect theory may help in explaining why company managers should consider adding ESOPs to their benefits packages.
