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The field of broad-based employee ownership within corporations is a specific application of the foundational topic of property ownership. It is situated at the intersection of a broad range of scholarly disciplines including economics, law, finance and management. Each discipline contributes vocabulary and distinctions describing this field. That broad spectrum of disciplinary inquiry is a strength but it also lends a “ships passing in the night” quality to discussions of employee ownership. This paper attempts to unravel the narrative diversity surrounding this topic. Four meanings of ownership are introduced. Those meanings are in turn embedded within two abstract models of the corporation; the corporation as property and the corporation as social institution.

There is no experimental design The paper presents a conceptual overview and introduces a taxonomy of four meanings and two models of ownership.

Four meanings of ownership are introduced. The meanings are ownership as compensation, investment, retirement and membership. Those meanings are in turn embedded within two abstract models of the corporation; the corporation as property and the corporation as social institution.

No hypotheses are advanced. This is not a research paper. A conceptual overview that makes use of taxonomy of meanings and models is introduced to help clarify confusions abundant in the field of employee ownership. Readers may differ with the categories of meanings and models introduced in this conceptual overview.

The ambition of the paper is to describe the various meanings and models of employee ownership presently in use in both academic and applied settings. It is not necessary or desirable to assert the primacy of a single meaning or model in order to achieve progress. The analysis provided here surfaces a range of assumptions about ownership that have heretofore been implicit in both scholarship and in practice. Making those assumptions explicit should prove useful to both scholars and practitioners of employee ownership.

The concept of employee ownership enjoys a relatively broad appeal with the public. Among the academic disciplines that have trained their lights upon it, a more mixed reception prevails. Much of the academic and policy controversy derives from confusion about the nature and structure of employee ownership. This paper attempts to address that confusion by presenting a taxonomy of meanings and models that may prove useful for future research.

This study is one of the first efforts to comprehinsively map the various meanings and models of broad-based employee ownership.

This paper aims to explore how historical context influences the content and selection of rhetorical legitimation strategies. Using case study method, this paper will focus on how insurance companies and labor tried to defend their legitimacy in the context of enactment of Medicare in the USA. What factors influenced the strategic (rhetorical) decisions made by insurance companies and labor unions in their institutional work?

The study is empirically grounded in archival research, involving an analysis of over 9,000 pages of congressional hearings on Medicare covering the period 1958–1965.

The authors show that rhetorical legitimation strategies depend significantly on the specific historical circumstances in which those strategies are used. The historical context lent credibility to certain arguments and organizations are forced to decide either to challenge widely held assumptions or take advantage of them. The authors show that organizations face strong incentives to pursue the latter option. Here, both the insurance companies and labor unions tried to show that their positions were consistent with classical liberal ideology, because of high respect of classical liberal principles among different stakeholders (policymakers, voters, etc.).

It is uncertain how much the results of the study could be generalized. More information about the organizations whose use of rhetorics the authors studied could have strengthened our conclusions.

The practical relevancy of the revised paper is that the authors should not expect hegemony challenging rhetorics from organizations, which try to influence legislators (and perhaps the larger public). Perhaps (based on the findings), this kind of rhetorics is not even very effective.

The paper helps to understand better how organizations try to advance their interests and gain acceptance among the stakeholders.

In this paper, the authors show how historical context in practice influence rhetorical arguments organizations select in public debates when their goal is to influence the decision-making of their audience. In particular, the authors show how dominant ideology (or ideologies) limit the options organizations face when they are choosing their strategies and arguments. In terms of the selection of rhetorical justification strategies, the most pressing question is not the “real” broad based support of certain ideologies. Insurance company and labor union representatives clearly believed that they must emphasize liberal values (or liberal ideology) if they wanted to gain legitimacy for their positions. In existing literature, it is often assumed that historical context influence the selection of rhetorical strategies but how this in fact happens is not usually specified. The paper shows how interpretations of historical contexts (including the ideological context) in practice influence the rhetorical strategies organizations choose.

With the accelerated technological advancement, innovation has become a critical factor, which affects the core competitiveness of a company. However, studies about the relationship between internal stock option mechanisms and innovation productivity remain limited. Therefore, this paper aims to examine the impact of stock options and their elements design on innovation output from an internal mechanism perspective.

Using a sample of 302 stock option incentive plans announced and implemented between 2006 and 2016, this study uses the propensity score matching and difference-in-difference model to find out whether the implementation of stock options improves the innovation outputs of enterprises.

Based on the statistical analysis, it is concluded that: stock options can stimulate corporate innovation; a stock option may drive innovation outputs through two ways, performance-based incentives and risk-taking incentives, with the latter one playing a more dominant role and the risk-taking incentives of stock options, could be optimised when the non-executives granting proportion is larger, the granting range is limited, the incentive period is longer, the exercisable proportion is increasing, the price-to-strike ratio is lower and relatively loose performance assessment criteria are applied.

The conclusion reached in the study may provide valuable information to listed firms in designing and implementing the stock option plans.

This article examines the effects of credit to private sector on the business and trade activities. The effectiveness of rapid expansion in public and private borrowing through state's intervention after COVID-19 pandemic has been assessed in this study.

The model to determine the role of credit expansion is based on four equations estimated through panel least square technique on 18 years data of 186 countries.

It is concluded that credit to private sector and external debt improve the investment in infrastructure, which is a significant determinant of gross domestic product growth. Empirical evidences corroborate that higher number of firms using banks to finance their investment and the volume of broad money determine the magnitude of credit to private sector.

This study explores some new evidences and aspects of the credit financing which have not been discussed in this way before.

The study examines the impacts of debt financing on infrastructure development, investment, creation of new business entities, subsidies to private sector and GDP growth.

The methodology is based on five simultaneous equations which have been estimated through panel least square.

The most important conclusion of this study is the significant role of sovereign bonds in determination of subsidies to private sector. The role of domestic credit is important in South Asian context because of its significant role in creation of new businesses.

This study supports the enhancement in credit financing to private sector for creation of new business activities in the economy.

The improvement in liquidity position by enhancing domestic credit facilities may ensure the sustainability and continuity of business activities. Such activities may improve GDP growth in future.

The most important aspect of the study is to identify the role of debt financing in subsidies and creation of new businesses which are important elements of social economics.

Usually the impacts of sovereign bonds and external debts on infrastructure development and GDP growth are examined. But, to relate these debts to creation of business entities and subsidies is a new dimension.

The aim of this paper is to generate a streamlined, transparent and effective instrument to fairly measure the contribution made by each student to a group project within a higher education context. The primary aim is to moderate the grades of underperforming students at the end of the project. There is a secondary benefit in alerting underperforming students to raise their contribution mid-task or face a potentially reduced grade at the final stage.

The development of this multi-dimensional instrument is guided by findings from previous research. The quest is to minimise the instructor's administrative work load in applying a moderation-only instrument that is open-source and available at no cost. Based on the literature, the survey instrument seeks to apply a peer-based, equitable and transparent evaluation of each member's contribution to a group task. The survey is applied at mid-task and again at end-task in order to afford underperformers the opportunity to address contribution deficits during the final phase of the project.

The instrument, called TANDEM©, offers a transparent, streamlined, equitable, confidential and practical measure of each student's contribution to a graded group task. Students whose end-task contribution falls below the group average rating receive a proportional reduction in their personal grade. Additionally, the end-task moderation instrument captures a single-item holistic measure of relative contribution that may, in the future, serve as a surrogate for the multi-dimensional measures currently in place.

TANDEM© was developed with group sizes of four or five members in mind. There is no evidence to support its application to three-person groups. Moreover, the application was applied only amongst under-graduate students. It is yet to be applied across post-graduate groups and within online learning environments. Future research into diverse cultural settings would serve to advance understanding of how moderation is perceived across borders.

Several existing group grade moderation methods propose complex algorithms that are “black box” solutions from a student's perspective. In establishing a fair, streamlined, confidential and transparent process for peer-rated moderation, TANDEM© deploys a concise instrument with a relatively small administrative load. TANDEM © may be applied to all groups or can selectively be applied to groups that report moderate, strong or extreme levels of conflict.

Students will appreciate the opportunity to rate peer contributions to group projects. This will dissipate the negative social sentiment that may arise when fellow students benefit from the work of others. Those students seeking conflict resolution within the group will value the transparent and equitable moderation of grades as well as the positive social implications that follow.

This research forms part of an ongoing quest to present a moderation instrument that fairly identifies student contribution to a group project. Whilst the solution proposed is one of many existing alternatives, its focus is on a practical moderation-only instrument that can immediately be applied to a course or major. The benefits lie in the ease of application and minimal administrative workload. This constitutes an original contribution to the individual (course or major) coordinator who seeks to apply a moderation-only instrument without having to commit to an extensive, broad-based group optimisation programme.

The purpose of this paper is to contribute to the literature on secondary equity offerings (SEOs) by examining the impact of the Black Economic Empowerment (BEE) policy on secondary equity offering (SEO) pricing dynamics of South African Real Estate Investment Trusts (REITs).

With a sample of 152 SEOs of South African REITs from 2010 to 2020, ordinary least squares (OLS) models, fixed effect models, parametric and non-parametric tests were applied to test for the impact of BEE on the underpricing of SEOs.

Significant underpricing is discovered in highly compliant (BEE) REITs; in other words, SEOs pricing of BEE compliant REITs are more underpriced compared to non-compliant BEE REITs. With this, BEE compliant REITs and more so, highly compliant BEE REITs in particular leave more money on the table.

The government is therefore aware of the impact policy interventions play when REITs raise financing through SEOS. With these, highly compliant BEE REITs will need to be more strategic when making BEE compliance decisions as this is shown in our study to impact the underpricing of SEOs.

This is the first study to investigate SEO underpricing for the BEE policy using the South African REITs context.

As China embarks upon a new era of high-quality development, it is increasingly important and imperative for China’s economic development to live up to its real nature, which is to satisfy people’s growing needs for a better life. The paper aims to discuss this issue.

The paper attempts to discuss the implication of HQD and its related theoretical issues from the basic theory of economics, and literature review. It is necessary to return to Marx’s “dual character of commodity” to check the theoretical foundation of this issue, based on the duality methodology, namely, the duality of the value of use and the value of exchange.

Moving from HSG phase to HQD phase constitutes a major challenge and an arduous task that is extremely difficult both theoretically and practically. A series of new problems crop out as to the theoretical understanding and practical resolution. Fundamentally speaking, this new dynamic mechanism intrinsically requires a perfect integration of the instrumental rationality of market economy and the value-based rationality of economic development.

This new momentum requires a perfect match between the instrumental rationality of market economy and the value-based rationality of economic development.

This chapter looks at how Goal 17 on partnerships can be a lever of change. It discusses the partnership approach to achieving the SDGs and unravels the key functions of networks and partnerships, such as knowledge sharing, coordination, and collaborative governance. It carefully explains why we need to shift the focus of the global debate from collaborative governance to the cocreation of public value outcomes. It then provides a schematic account of the different steps in the process of cocreating outcomes, which include initiation, design, implementation, and evaluation. Finally, the chapter identifies the key merits of cocreation and looks its dark side straight in the eye.

This concluding chapter summarizes the critical insights that changemakers ought to consider in their attempt to lead and manage cocreation processes and enhance their impact. The chapter also addresses three crucial challenges to the advent of a sustainable future: the need to rethink the assumptions of mainstream economics, the need to secure political stability in times of rapid societal change; and the demand for the deepening democracy. Finally, the chapter argues that local efforts to build a sustainable future will only succeed if key economic, political, and democratic challenges are effectively dealt with at the global and national levels.