%0 Journal Article
%T ESOP Plus Benefit Corporation: Ownership Culture with Benefit Accountability
%A Nancy Kurland
%J California Management Review
%@ 2162-8564
%D 2018
%R 10.1177/0008125618778853
%X Stakeholder capitalism seeks to benefit multiple stakeholders, rather than primarily shareholders. Two increasingly popular forms are the employee stock ownership plan (ESOP) and the benefit corporation. But what happens when a company combines these structures? While the benefit corporation¡¯s expanded stakeholder mandate may appear to come at the expense of employee-owner wealth and the potential for shared power, in fact they can complement one another. Being a benefit corporation can strengthen the employee-owned company¡¯s ownership culture through enhanced engagement and creation of a meaningful work environment. And in turn, employee owners can add a layer of accountability to help them meet the benefit corporation¡¯s expanded stakeholder mandate
%K corporate social responsibility
%K hybrid organizations
%K business models
%U https://journals.sagepub.com/doi/full/10.1177/0008125618778853