Rutgers’ School of Management and Labor Relations has appointed 30 fellows to study broad-based employee stock ownership and profit sharing in corporations, the U.S. economy and society. The 2016-2017 fellows are:
1 – J. Robert Beyster Fellowship. Karla Walter, Director, Employment Policy, Center for American Progress, Washington, D.C., Masters of Urban Planning and Policy, University of Illinois at Chicago College of Urban Planning and Public Affairs. Research Topic: Policies to support broad-based equity compensation in entrepreneurial start-ups, the tech sector, and the economy at large. Methodology: Analysis of legislation and policy.
2 – Louis O. Kelso Fellowship. Ellora Derenoncourt, Ph.D. candidate, Harvard University, Department of Economics. Research Topic: The effects of differential levels of employee ownership benefits on employee satisfaction and quit rates. Methodology: Database of nearly 7,000 ESOPs available from the National Center for Employee Ownership (NCEO) (originally from the Internal Revenue Service Form 5500) matched to the restricted-use version of the Longitudinal Employer-Household Dynamics (LEHD) dataset available from the U.S. Census Bureau.
3 – Louis O. Kelso Fellowship. Sanghee Park, Assistant Professor, Rutgers University, School of Management and Labor Relations, Department of Human Resource Management. (Ph.d., Cornell University, School of Hotel Administration, Human Resource Management and Organizational Behavior). Research Topic: “Speaking Up for the Success of a Company That I Own”: investigating employee ownership initiatives in employee voice under Employee Stock Ownership Plans (ESOPs). Methodology: Survey to collect data on ESOPs at both the organizational and individual levels.
4 – Louis O. Kelso Fellowship. Daniel Souleles, Lecturer, Brandeis University, Department of Anthropology. (Ph.D., Columbia University, Department of Anthropology). Research Topic: How much democracy is necessary? Proposal for an ethnographic study of cultures of companies with Employee Stock Ownership Plans (ESOPs), namely, an ethnographic study of an ESOP business with an effective ownership culture, an organizational consulting firm that has worked with that business, and an investment banking firm that does valuation work for that business.
5 – Louis O. Kelso Fellowship. Muhammad Azim, Ph.D. candidate, Accounting, University of Toronto Rotman School of Management. Research Topic: Employee Stock Ownership Plans (ESOPs) and employee monitoring of management. Methodology: Analysis of U.S. Securities and Exchange Commission filings.
6 – Louis O. Kelso Fellowship. Steve Larson, Doctor of Business Administration candidate, Argosy University, Graduate School of Business and Management. Research Topic: The effect of implementing an ESOP on the market expansion and risk management strategies of the firm. Methodology: Qualitative study of small to medium size ESOP companies to examine the experiences of those who participated in the transition from a pre-ESOP operational style to an integrated ESOP culture using interviews of CEOs of nine companies of different ESOP durations and sizes.
7 – Joseph Cabral Distinguished Scholar and Fellow and Beyster Research Grant. Francesco Bova, Associate Professor of Accounting, Rotman School of Management. (Ph.D. and MBA, Yale University, School of Management, Accounting). Research Topic: The impact of broad-based employee ownership on firm-level outcomes related to corporate governance, risk-taking, and sustainability. Methodology: Analytical and empirical methods using different datasets.
8 – The Robert W. Edwards Fellowship for Advanced Study of Employee Stock Ownership. Erik Olsen, Associate Professor, University of Missouri-Kansas City, Department of Economics. (Ph.D., University of Massachusetts-Amherst, Department of Economics). Research Topic: The effect of Employee Stock Ownership in majority-owned ESOPs on employee effort levels, supervision, worker co-monitoring, and other questions. Methodology: Analysis of micro-data from the Bureau of Labor Statistics (BLS) Occupational Employment Statistics (OES) survey.
9 – The Robert W. Edwards Fellowship for Advanced Study of Employee Stock Ownership. Peter B. Thompson, Clinical Assistant Professor, University of Illinois-Chicago, College of Business Administration, Department of Managerial Studies. (Ph.D., University of Illinois-Chicago, College of Business Administration). Research Topic: Employee ownership in the laboratory: a multi-level study. Methodology: Laboratory experiment with adult participants.
10 – The George S. Pillsbury Fellowship. Nicole Leach, Assistant Professor, Department of Counseling, Educational Psychology, and Foundations, Mississippi State University. (Ph.D., Ohio State University, Educational Psychology). Research Topic: Worker cooperatives in urban communities of color: self-determination’s impact on psychological health, home dynamics, and community involvement. Methodology: Qualitative and quantitative analysis of a large worker cooperative that employs women of color with worker ownership and profit sharing compared to a similar company without these practices.
11 – Corey Rosen Fellowship. Qing Gong, Ph.D. candidate, University of Pennsylvania, Department of Economics. Research Topic: Causal effects of broad-based stock option ownership on employee retention and productivity. Methodology: Analysis of a detailed administrative panel data from a large NASDAQ-listed company.
12 – Corey Rosen Fellowship. Andrzej Baranski Madrigal, Assistant Professor, Maastricht University-The Netherlands. (Ph.D., Ohio State University, Economics). Research Topic: An experimental design to test pre-distributive bargaining related to employee ownership and profit sharing. Methodology: Experimental economics laboratory study.
13 – Ray Carey Fellowship. Chris Mackin, Adjunct Lecturer, Rutgers University School of Management and Labor Relations, Department of Human Resource Management. (Ed.d., Harvard University). Research Topic: A study that will result in a manuscript entitled, A Brief for Economic Democracy, on public policies to further broad based employee ownership initiatives. Methodology: Policy analysis.
14 – Fidelity Investments Fellowship in Equity Compensation. Christos Makridis, Ph.D. candidate, Stanford University, Department of Management Science and Engineering. Research Topic: The impact of equity compensation on individual and firm behavior. Methodology: Quantitative analysis of databases.
15 – Rutgers Research Fellowship. Stephen Sullivan, Ph.D., Columbia University Department of History. Research Topic: Worker ownership in nineteenth century New York City. Methodology: Historical research.
16 – Rutgers Research Fellowship. Evan Caspar-Futterman, Ph.D., Rutgers University, Bloustein School of Urban Planning and Public Policy. Research Topic: The problem of scale in economic democracy. Methodology: Theoretical paper and case study of the Bronx Cooperative Development Initiative (BCDI).
17 – Rutgers Research Fellowship. Maria Armoudian, Assistant Professor, University of Auckland-New Zealand. (Ph.D. University of Southern California, Department of Political Science and International Relations.) Research Topic: The effects of worker cooperatives and B Corporations as long-term business models on sustainability, civic engagement, trust, and civility. Methodology: Constructing and analyzing a state-by-state U.S. dataset.
18 – Rutgers Senior Fellow. Fidan Ana Kurtulus, Associate Professor, University of Massachusetts-Amherst and Wertheim Fellow, Harvard Law School. Research Topic: Developing a National Science Foundation proposal for the economic study of Employee Stock Ownership Plans (ESOPs). Methodology: Development of a research plan leading to a multi-year grant proposal.
19 – Rutgers Research Fellowship. Christopher Michael, Ph.D. candidate, City University of New York, Department of Political Science. (J.D., CUNY Law School) Research Topic: A history of employee ownership in the United States. Methodology: Historical research.
20 – Kevin Ruble Fellowship in Conscious Capitalism. Jacob Park, Professor of Strategy, Innovation, and Entrepreneurship, Green Mountain College. (Ph.D., Erasmus University Rotterdam, Faculty of Social Sciences, Department of Public Administration). Research Topic: The role of employee ownership in the organizational culture of certified B Corporation companies. Methodology: Literature review, interviews, and case studies.
21 – Kevin Ruble Fellowship in Conscious Capitalism. Anne-Laure Winkler, Assistant Professor, Baruch University Zicklin School of Business. (Ph.D., Rutgers University School of Management and Labor Relations). Research Topic: Conscious capitalism in ESOP companies that are B corporations. Methodology: Interviews and quantitative analysis.
22 – W.K. Kellogg Fellowship. Carol Stack, Professor Emeritus, University of California-Berkeley, Graduate School of Education and Women’s Studies. (Ph.D., Anthropology, University of Illinois, Champaign-Urbana). Research Topic: The impact of employee ownership on the financial security of modest income adults and their families. Methodology: Ethnography, interviews, and case studies of ESOP companies.
23 – W.K. Kellogg Fellowship. Daphne Berry, Assistant Professor, Barney School of Business, University of Hartford (Ph.D. University of Massachusetts-Amherst, Organizational Behavior). Berry did the pioneering research into the largest worker coop in the U.S. employing women of color. She has been the J. Robert Beyster Fellow at SMLR. Research Topic: The impact of employee ownership on the financial security of modest income adults and their families. Methodology: Ethnography, interviews, and case studies of ESOP companies.
24 – W.K. Kellogg Fellowship. Janet Boguslaw, Lecturer, Senior Scientist, and Associate Director, Institute on Assets and Social Policy, Brandeis University, Heller School for Social Policy and Management. (Ph.D., Boston College, Department of Sociology). Her institute is one of the nation’s leading centers examining asset building for the poor. Research Topic: The impact of employee ownership on the financial security of modest income adults and their families. Methodology: Ethnography, interviews, and case studies of ESOP companies.
25 – W.K. Kellogg Fellowship. Teresa Boyer, Executive Director, Center for Women and Work (CWW), Rutgers University, School of Management and Labor Relations and Assistant Research Professor, Labor Studies and Employment Relations Department, Rutgers University, School of Management and Labor Relations. (Ed.D., University of Alabama, School of Education). CWW is the Rutgers’ School of Management and Labor Relation’s main center dealing with low income women workers. Research Topic: The impact of employee ownership on the financial security of modest income adults and their families. Methodology: Ethnography, interviews, and case studies of ESOP companies.
26 – W.K. Kellogg Fellowship. Mark Kaswan, Assistant Professor, University of Texas- Rio Grande Valley, Department of Political Science. (Ph.D., UCLA, Department on Political Science). Kaswan is an expert on worker cooperatives who studied with eminent UCLA political scientist Carol Pateman who first theorized the social capital spillover from economic democracy institutions to society at large. He has been the Michael W. Huber Fellow and the J. Robert Beyster Fellow at Rutgers SMLR. Research Topic: The impact of employee ownership on the financial security of modest income adults and their families. Methodology: Ethnography, interviews, and case studies of ESOP companies.
27 – W.K. Kellogg Fellowship. Joan Meyers, Assistant Professor, University of the Pacific, Department of Sociology. (Ph.D., University of California-Davis, Department of Sociology). Meyers did key case studies of large worker cooperatives with people of color. She is a former Postdoctoral Associate for two years in the Labor and Employment Relations Department of the Rutgers University, School of Management and Labor Relations and the former Michael W. Huber Fellow. Research Topic: The impact of employee ownership on the financial security of modest income adults and their families. Methodology: Ethnography, interviews, and case studies of ESOP companies.
28 – W.K. Kellogg Fellowship. Glenda Gracia-Rivera, Associate Director, Center for Women and Work (CWW), Rutgers University, School of Management and Labor Relations. (M.A., Seton Hall University, Public Administration). CWW is the Rutgers’ School of Management and Labor Relation’s main center dealing with low income women workers. Research Topic: The impact of employee ownership on the financial security of modest income adults and their families. Methodology: Ethnography, interviews, and case studies of ESOP companies.
29 – W.K. Kellogg Fellowship. Lisa Schur, Associate Professor and Chair, Labor and Employment Relations Department of the Rutgers University, School of Management and Labor Relations. (Ph.D., University of California-Berkeley, Department of Political Science and J.D. Northeastern University School of Law) Schur has conducted leading qualitative research on modest income workers with disabilities. Research Topic: The impact of employee ownership on the financial security of modest income adults and their families. Methodology: Ethnography, interviews, and case studies of ESOP companies.
30 – W.K. Kellogg Fellowship. Sanjay Pinto, Post-Doctoral Associate, Department of Labor Studies and Employment Relations, Rutgers University, School of Management and Labor Relations. (Ph.D., Harvard University, Department of Sociology). Pinto is principal contributor to the policy report, Ours To Share: How Worker Ownership Can Change The American Economy, recently released by the Surdna Foundation. Research Topic: The impact of employee ownership on the financial security of modest income adults and their families. Methodology: Ethnography, interviews, and case studies of ESOP companies.
*Names in bold indicate faculty, staff, and/or Ph.D. students from Rutgers School of Management and Labor Relations.
