Correlates of employee satisfaction with stock ownership: Who likes an ESOP most?

Katherine J. Klein · Rosalie J. Hall

81 citations0/0 files storedJournal of Applied Psychology

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Cooperative Studies and Economics Labor Movements and Unions Job Satisfaction and Organizational Behavior

Abstract

In this study, we examined the correlates of individual employee satisfaction with stock ownership in a sample of 37 employee stock ownership plan (ESOP) companies. The results indicated that ESOP satisfaction is a function of five factors: (a) characteristics of the company ESOP, (b) employee status within the ESOP, (c) employee values, (d) interactions between employee and ESOP character-istics, and (e) employees ' general attitude toward the organization as a whole (organizational commit-ment). Together, these five factors accounted for 58 % of the variance in ESOP satisfaction. The results both support and extend previous employee stock ownership research and theory.

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1979The measurement of organizational commitment 1977The Quality of American Life 1972Pay and Organizational Effectiveness: A Psychological View.1987Theory Testing and Organizational Behavior: The Varient Approach.1987Employee stock ownership and employee attitudes: A test of three models.1979Developing an Interdisciplinary Science of Organizations.1978The Effects of Employee Ownership on Organizational Identification, Employee Job Attitudes, and Organizational Performance: A Tentative Framework and Empirical Findings 1980Employee Ownership: Implications for the Organizational Distribution of Power

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