The determinants of employee stock ownership: French case

The present study scrutinizes the factors affecting the practice of employee stock ownership. This work sheds light on the role and contribution of this practice to enhance the corporate governance systems. Our study uses a sample of 216 listed French companies in 2010. The empirical approach is a linear regression used to examine the relation between the dependent variable and the independent variables. The results show that the large companies are the most likely to practice the ESO and this is developed by a reduction in debt, the dividend distribution, and the tax rate. The focal point of this work is to go beyond the simple scope of the existence of the employee stock ownership and is interested in the conditions of its development in the French companies.

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PENGARUH TARIF PAJAK PENGHASILAN, MEKANISME BONUS, DAN TUNNELING INCENTIVES TERHADAP PERGESERAN LABA DALAM MELAKUKAN TRANSFER PRICING DENGAN GOOD CORPORATE GOVERNANCE SEBAGAI VARIABEL MODERASI

Jurnal Akuntansi Trisakti ◽

10.25105/jat.v4i2.4836 ◽

2019 ◽

Vol 4 (2) ◽

pp. 141

Author(s):

Vinola Herawaty ◽

Anne Anne

Keyword(s):

Corporate Governance ◽

Income Tax ◽

Audit Quality ◽

Transfer Pricing ◽

Income Shifting ◽

Manufacturing Companies ◽

Tax Rate ◽

Independent Variables ◽

Good Corporate Governance ◽

Bonus Plan

This study aims to examine the effect of income tax rates, bonus plan and tunneling incentives as instruments in detecting income shifting with transfer pricing with moderate good corporate governance. The independent variables in this research are income tax rate, bonus plan and tunneling incentives as well as leverage and firm size as control variables. Good corporate governance mechanism that has been used in this research is audit quality regarding to auditor reputation.The sample was taken by purposive sampling method consisting of 176 manufacturing companies of consumer goods industry sector listed in Indonesia Stock Exchange which have reported complete financial report in period 2013-2016. Test of hypothesis was using SPSS 23 application.The results show that good corporate governance has weaken positive significant for bonus plan and tunneling incentives in detecting income shifting in transfer pricing. Meanwhile, other independent variables income tax rate has no significant effect.

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Beyond Dichotomy: The Curvilinear Impact of Employee Ownership on CEO entrenchment

Management international ◽

10.7202/1058165ar ◽

2019 ◽

Vol 22 (2) ◽

pp. 112-127 ◽

Cited By ~ 1

Author(s):

Xavier Hollandts ◽

Nicolas Aubert ◽

Abdelmehdi Ben Abdelhamid ◽

Victor Prieur

Keyword(s):

Corporate Governance ◽

Corporate Control ◽

Listed Companies ◽

Employee Ownership ◽

Curvilinear Relationship ◽

Stock Ownership ◽

Employee Stock Ownership ◽

Market For Corporate Control ◽

Legislative Changes ◽

The Relationship

Employee stock ownership gives employees a voice and therefore may have a major impact on corporate governance. Thus, employee stock ownership may be a powerful mean to protect CEOs from both market for corporate control and dismissal threat. In this paper, we examine the relationship between employee stock ownership and CEO entrenchment. Following the recent French legislative changes, we use a comprehensive panel dataset of the major French listed companies over the 2009-2012 period. We document inverted U-shaped relationships between employee stock ownership and CEO entrenchment. Board employee ownership representation also plays a role and increases the inflexion points of these curvilinear relationship.

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Employee stock ownership and the cost of capital 1 1We are grateful to the Editor in Chief, Thomas Lagoarde-Segot and to participants at 2016 French accounting association conference, 2015 French finance association conference, the 2014 International corporate governance for their useful comments and suggestions. Siessima Djibril Toé provided excellent research assistance. All remaining errors are our own.

Research in International Business and Finance ◽

10.1016/j.ribaf.2017.04.007 ◽

2017 ◽

Vol 41 ◽

pp. 67-78 ◽

Cited By ~ 2

Author(s):

Nicolas Aubert ◽

Alexander Kern ◽

Xavier Hollandts

Keyword(s):

Corporate Governance ◽

Cost Of Capital ◽

Stock Ownership ◽

Employee Stock Ownership ◽

Excellent Research ◽

International Corporate Governance ◽

The Cost

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Employee Stock Ownership in Morocco

10.4018/978-1-7998-8557-3.ch008 ◽

2022 ◽

pp. 146-159

Author(s):

Asmaa Boukhima ◽

Tahar Khallouki

Keyword(s):

Corporate Governance ◽

Corporate Social Responsibility ◽

Social Responsibility ◽

Stock Ownership ◽

Current Debate ◽

Legal Doctrine ◽

Employee Stock Ownership ◽

Legal Science ◽

Long Time ◽

Corporate Social

Today, the notion of social interest occupies an essential place in legal science. For a long time limited to the shareholders' own interests, today a large part of the legal doctrine insists on the necessity to take into consideration all the interests that contribute to the prosperity of the company, such as its employees, its suppliers, its customers. This is the sense in which the current debate on corporate governance and CSR (corporate social responsibility) is heading. In the context of this study, attention will be focused on the case of the employee. How does one take into consideration the interest of the latter in the company? Both forms of involvement are important, but the authors limit themselves to the second one, namely employee stock ownership.

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On investment performance, value creation, management and corporate governance: The French case

Corporate Ownership and Control ◽

10.22495/cocv1i4p6 ◽

2004 ◽

Vol 1 (4) ◽

pp. 72-80 ◽

Cited By ~ 1

Author(s):

Mondher Bellalah

Keyword(s):

Corporate Governance ◽

Value Creation ◽

Conflict Of Interest ◽

Minority Shareholders ◽

Investment Performance ◽

Controlling Shareholders ◽

Governance Systems ◽

French Case ◽

Block Holders ◽

And Control

This paper studies corporate governance, investment, value creation and their effects on corporate performance in some European countries and in particular in France. It accounts for specific aspects of investment performance, governance, management and entrepreneurship. Corporate governance systems can be identified by the degree of ownership and control and the identity of controlling shareholders. In outsider systems characterized by wide dispersed ownership as in the U.S and UK, the main specificity is the conflict of interest between strong managers and widely-dispersed weak shareholders. In insider systems characterized by concentrated ownership or control as in Germany and Japan, the main specificity is the conflict of interest between controlling shareholders (or block holders) and weak minority shareholders. There are several models of corporate governance since each country has developed a variety of mechanisms to overcome agency problems arising from the separation of ownership and control. Some results are reported using a data base conceived by IPAG students.

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The Effect of Financial Leverage, Employee Stock Ownership Program and Firm Size on Firm Performance of Companies Listed in Indonesia Stock Exchange

International Business and Accounting Research Journal ◽

10.15294/ibarj.v1i2.7 ◽

2017 ◽

Vol 1 (2) ◽

pp. 82

Author(s):

Nurainun Bangun ◽

F.X. Kurniawan Tjakrawala ◽

Kurniati W. Andani ◽

Linda Santioso

Keyword(s):

Firm Performance ◽

Firm Size ◽

Stock Exchange ◽

Stock Ownership ◽

Financial Leverage ◽

Return On Assets ◽

Return On Equity ◽

Independent Variables ◽

Employee Stock Ownership ◽

Simultaneous Test

The purpose of this research is to examine and to obtain affected empirical evidence of financial leverage, firm size and employee stock ownership program (ESOP) to firm performance in manufacturing company in Indonesian Stock Exchange on 2013-2015. Independent variables in this research are Financial Leverage (DER), Firm Size and Employee Stock Ownership Program (ESOP). Dependent variables in this research are Return on Assets (ROA) and Return On Equity (ROE). The results Showed that the simultaneous test of three independent variables Significantly afftected to the ROA and ROE. The partial tests of Financial Leverage (proxy DER) and Firm Size Significantly affected to ROA and ROE. But, the results Showed that the Employee Stock Ownership Program (ESOP) did not Affect to ROA and ROE.

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Behavioral effects of employee stock ownership: French case

Asian Journal of Empirical Research ◽

10.18488/journal.1007/2020.10.2/1007.2.53.64 ◽

2020 ◽

Vol 10 (2) ◽

pp. 53-64

Author(s):

Dalenda Ben Ahmed

Keyword(s):

Behavioral Effects ◽

Stock Ownership ◽

Employee Stock Ownership ◽

French Case

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THE INFLUENCE OF CEO CHARACTERISTIC AND COMPENSATION TO EFFECTIVE TAX RATE WITH CORPORATE GOVERNANCE AS A MODERATING VARIABLE

Jurnal Magister Akuntansi Trisakti ◽

10.25105/jmat.v4i2.5062 ◽

2019 ◽

Vol 4 (2) ◽

pp. 129

Author(s):

Wati Wati ◽

Christina Dwi Astuti

Keyword(s):

Corporate Governance ◽

Hypothesis Testing ◽

Ceo Compensation ◽

Sampling Method ◽

Stock Exchange ◽

Positive Influence ◽

Stock Ownership ◽

Effective Tax Rate ◽

Tax Rate ◽

Research Show

The aim of this research is to analyze the influence of characteristic and CEO compensation (CEO compensation and CEO stock ownership) to effective tax rate with corporate governance as moderating variable. The type of this research is quantitative, and done in Bursa Efek IndonesiaPopulation in this research are manufacture companies that listed in Indonesia Stock Exchange during the study period of years 2012-2016.The samples of this research using purposive sampling method are 76 companies. Multiple regression is statistic method which is used to test the research hypothesis. Testing of hypotheses using SPSS 23.The results of this research show that CEO compensation and corporate governance significantly positive influence the effective tax rate while CEO characteristic and CEO stock ownership have not influence the effective tax rate. Corporate governance not able to moderate relation between CEO characteristic, CEO compensation and CEO ownership to effective tax rate.

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