ESOP, privatization and stakeholder capitalism (CROSBI ID 610646)
Prilog sa skupa u zborniku | izvorni znanstveni rad | međunarodna recenzija
Podaci o odgovornosti
Dulčić, Želimir ; Alfirević, Nikša ; Najev Čačija, Ljiljana ; Talaja, Anita ; Sruk, Boris
engleski
ESOP, privatization and stakeholder capitalism
In this article, different employee stock ownership plans are analyzed and compared. Privatization models based on insider ownership, i.e. management buyout - MBO , employee but-out – EBO and management employee buyout – MEBO are described. The hypothesis that the insider ownership through buyout will increase the efficiency of company’s human capital is described by analyzing positive effects of EBO and concept of instrumental satisfaction. It is highlighted that EBO can help in eliminating a part of the agency problems, as well as MBO , since managers become principals. In addition, offensive and defensive MBO s are presented. While offensive MBO s are based on development of new strategic resources and capabilities, as resource-based theory predicts, defensive MBO s are based on cutting costs and establishing solid managerial control, which is in accordance with the agency theory. Also, the relationship between MBO and stakeholder capitalism is discussed, with MEBO , as one of the most popular privatization methods, also being described. In addition, efficiency of privatization regarding the models used is compared.
ESOP ; Privatization ; Stakeholder capitalism
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Podaci o prilogu
189-199.
2014.
objavljeno
Podaci o matičnoj publikaciji
Proceedings of the 2nd International OFEL Conference on Governance, Management and Entrepreneurship
Tipurić, Darko ; Mešin, Marina
Zagreb: CIRU Centar za istraživanje i razvoj upravljanja
978-953-57413-3-6
Podaci o skupu
2nd International OFEL Conference on Governance, Management and Entrepreneurship
predavanje
04.04.2014-05.04.2014
Dubrovnik, Hrvatska