UC professor discusses businesses' move to employee-owned model
Journal-News reports Matandy Companies complete Employee Stock Ownership Plan transaction
Companies in the Cincinnati region recently became employee-owned, a move that could have benefits for the employees and businesses, a University of Cincinnati finance professor told the Journal-News.
Colin Campbell, PhD, associate professor of finance at the University of Cincinnati Carl H. Lindner College of Business
Through an Employee Stock Ownership Plan (ESOP) transaction, Matandy Steel and Metal Products LLC, JN Linrose Manufacturing LLC and Lamp Metal Trusses Corp. became employee-owned businesses, giving workers ownership interest in the form of shares of stock.
“By being an owner of the company, it would encourage them to take ownership in the role and feel a connection to the company and want it to be as successful as possible,” said Colin Campbell, PhD, an associate professor of finance in UC's Carl H. Lindner College of Business.
As owners of the companies, employees will share in profits, though they'll also share in the risks of a market downturn.
“When the company does better, they’re going to make more money as well, that way they share in the profits or good fortunes of the company,” Campbell said.
See more from the Journal-News.
Featured image at top courtesy of Unsplash.
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