Abstract Employee Dividend-Sharing System in electronic industry has created lots of rich employees in Taiwan since 1990s. Electronic industry needs lots of high professional employees for rapid growth. And It believes that this system can attract talent employees. But it also brings an issue of diluting shareholders¡¦ equities by Employee Dividend-Sharing System . We try to discuss that some factors affecting the system and the rationality of those factors. We use firm size, prior ROA, growth opportunity, three years average dilution ratio, cash salary ratio, the importance of human resource, cash restrain, and stock price as the effecting factors to find out the influence of employee dividend-sharing. We further combine the relation between dividend-sharing ratio and firm performance to analyze the rationality of effecting factors by classify the dividend-sharing ration to low, middle, and high classes. We find that dividend-sharing have relation among firm size, prior ROA, growth opportunity, three years average dilution ratio, cash salary ratio, the importance of human resource, cash restrain. We also find that the lower prior ROA the higher dividend-sharing in middle and high classes, and it¡¦s irrational. Excepting that the other significant effecting factors are rational.

The Study of Satisfaction about Employee Stock Ownership Plan Abstract Now the main reason why the enterprises in Taiwan enforce employee stock ownership plan is because of the Rule 267 in the Corporate Law. However, the companies actualizing the plan all give this a positive evaluation. If enterprises want to successfully put the employee stock ownership plan into force, they have to establish a complete system first. Among the researchers in the field of employee stock ownership plan, there is no one discussing about the predictive model of the enforcement effectiveness about employee stock ownership plan. Therefore, this research was designed to construct the predictive model concerning the effectiveness in employee stock ownership plan, using satisfaction of the employee stock ownership plan as the estimator. Most companies believe that employee stock ownership plan will have positive effects on the raise of the productivity and the improvement of the labor relations. Therefore, this research will also discuss about the relation between the satisfaction of the employee stock ownership plan and the climate of the labor relation.

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Employee ownership describes the situation where employees own an equity stake in an employing organisation. Psychologists have found that employee ownership positively relates to several attitudes that contribute to organisational effectiveness, including: Organisational Commitment, Job Satisfaction, Organisational Justice, and Psychological Ownership. Contrarily, economists point out that employee owned firms exhibit reduced value maximisation compared to investor owned firms, and suggest that employee influence in decision making produces suboptimal outcomes. This thesis investigated whether the psychological effects related to employee ownership are affected by the level of employee control over the organisation. Experiment 1 investigated if individuals display differing preferences for three factors related to formal and psychological ownership: equity, control, and information, and it was found that greater levels of each factor were preferred. Experiment 2 investigated which of two types of control, operational control or governance control, were preferred for different employee ownership conditions. Higher levels of control were preferred in all cases with governance control preferred overall. Experiment 3 investigated if the preference for governance or operational control changed as the at-risk component of employee remuneration changed. As at-risk remuneration increased, greater levels of control were preferred, and perceptions of organisational justice decreased. Overall it appeared that full organisational control produces the best outcomes in terms of organisational commitment, satisfaction, organisational justice, and psychological ownership, although acceptable outcomes are still possible with decreased levels of control.

Employee ownership describes the situation where employees own an equity stake in an employing organisation. Psychologists have found that employee ownership positively relates to several attitudes that contribute to organisational effectiveness, including: Organisational Commitment, Job Satisfaction, Organisational Justice, and Psychological Ownership. Contrarily, economists point out that employee owned firms exhibit reduced value maximisation compared to investor owned firms, and suggest that employee influence in decision making produces suboptimal outcomes. This thesis investigated whether the psychological effects related to employee ownership are affected by the level of employee control over the organisation. Experiment 1 investigated if individuals display differing preferences for three factors related to formal and psychological ownership: equity, control, and information, and it was found that greater levels of each factor were preferred. Experiment 2 investigated which of two types of control, operational control or governance control, were preferred for different employee ownership conditions. Higher levels of control were preferred in all cases with governance control preferred overall. Experiment 3 investigated if the preference for governance or operational control changed as the at-risk component of employee remuneration changed. As at-risk remuneration increased, greater levels of control were preferred, and perceptions of organisational justice decreased. Overall it appeared that full organisational control produces the best outcomes in terms of organisational commitment, satisfaction, organisational justice, and psychological ownership, although acceptable outcomes are still possible with decreased levels of control.

Diss. Nr. 2914 Wirtschaftswiss. St. Gallen, 2004. / Literaturverz.

Diss. Univ. Zürich, 1999. / 4. Expl. Diss.-Ausg. Literaturverz.: S. 347-365.

The purpose of this study is twofold. First, the results of the study are used to isolate the impact of ESOP financing on actual firms as closely as possible. This is simply to point out many of the advantages and disadvantages of ESOP financing. Second, the results of the study are used to compare the relative costs of ESOP's with other deferred employee compensation. In general, the findings indicate that ESOP's have little to offer as a means of financing for publicly held corporations, However, they may have certain advantages when used as a part of a firm's total employee compensation package. The findings indicate that accounting rules for certain types of ESOP's tend to distort per share calculation in the early years of the plan. To correct this, ESOP shares should be considered outstanding only as they become unencumbered. The study found that a definite need exists for empirical data relating to ESOP's motivational effects. This is a key factor in determining how the ESOP will affect a firm's financial structure. Further study of this aspect would provide valuable information regarding the ESOP's effect on the firm's productivity.

1 ABSTRACT Tax implications of employee stock option plans and their alternatives in the Czech Republic This thesis deals with possible ways in which Czech startups in the form of a limited liability company can enable their employees to participate in the value of the company. The main goal of the thesis is to give the reader a general overview of what possibilities these dynamic companies have and at the same time to analyze them both from a civil law (especially commercial law) perspective and from a tax law perspective. Another goal was to evaluate whether one optimal type can be selected from this range of diverse programs at all. Finally, the author tried to outline the necessary adjustments to the relevant legislation so that stock option plans can be effectively implemented in companies. To achieve these goals, the work is divided into six parts. The first introductory part explains the focus of the thesis on the issue of option plans (and their alternatives) in startups in the form of a limited liability company, both for employees and contractors supplying startups with their services as business partners. The second part describes the general non-legal aspects concerning enabling the employees to participate in the value of the company, which must be considered before deciding on the introduction...

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