ESOPs and employee attitudes

Abstract

This paper examines how management approaches to employee stock ownership plan (ESOP) implementation affects such employee work‐related attitudes as job satisfaction, ESOP satisfaction, and job involvement. Structural‐equation modeling assesses the responses of 321 airline pilots who were employed by one of three major US‐based airlines. The results indicated positive linkages between the instrumentally and extrinsically satisfying aspects of employee ownership and ESOP satisfaction, job satisfaction, and job involvement.