The 2017-2018 Fellows

Teresa Boyer, Ed.D., Founding Director of the Anne Welsh McNulty Institute for Women's Leadership, Villanova University.

Alex Brill, Resident Fellow, American Enterprise Institute (AEI).

David Calnitsky, Assistant Professor, Department of Sociology, Western University. Title of Research: The Labor Market and Its Alternatives.

Suzanne Cromlish, Ph.D., MBA, MHA, Assistant Professor of Management at the Graham School of Management, Saint Xavier University, Chicago, IL. Title of Research:  Empowering the 99%...One ESOP At A Time! A Mixed Methods Study of Employee Owned Company Acquisitions.

Joo H. Han, Assistant Professor, Rutgers University. Title of Research: Extending Ownership to Leverage Racially Diverse Workforce: The Effects of Racial Diversity on Firm-Level Outcomes under the Use of Broad-Based Stock Options.

The 2016-2017 Fellows

Muhammad Azim Muhammad Azim, Ph.D. candidate, Accounting, University of Toronto Rotman School of Management.  Research Topic:  Employee Stock Ownership Plans (ESOPs) and employee monitoring of management.  Methodology:  Analysis of U.S. Securities and Exchange Commission filings.

Ellora DerenoncourtEllora Derenoncourt, Ph.D. candidate, Harvard University, Department of Economics.  Research Topic:  The effects of differential levels of employee ownership benefits on employee satisfaction and quit rates.  Methodology: Database of nearly 7,000 ESOPs available from the National Center for Employee Ownership (NCEO) (originally from the Internal Revenue Service Form 5500) matched to the restricted-use version of the Longitudinal Employer-Household Dynamics (LEHD) dataset available from the U.S. Census Bureau.

Steve LarsonSteve Larson, Doctor of Business Administration candidate, Argosy University, Graduate School of Business and Management.  Research Topic: The effect of implementing an ESOP on the market expansion and risk management strategies of the firm.  Methodology: Qualitative study of small to medium size ESOP companies to examine the experiences of those who participated in the transition from a pre-ESOP operational style to an integrated ESOP culture using interviews of CEOs of nine companies of different ESOP durations and sizes.

Sanghee ParkSanghee Park, Assistant Professor, Rutgers University, School of Management and Labor Relations, Department of Human Resource Management.  (Ph.d., Cornell University, School of Hotel Administration, Human Resource Management and Organizational Behavior).  Research Topic: “Speaking Up for the Success of a Company That I Own”: investigating employee ownership initiatives in employee voice under Employee Stock Ownership Plans (ESOPs).  Methodology:  Survey to collect data on ESOPs at both the organizational and individual levels over two points in time in order to measure employees’ reactions to the practices (e.g., employee voice, psychological contract perceptions and LMX (leader-member exchange).

Daniel SoulelesDaniel Souleles, Lecturer, Brandeis University, Department of Anthropology.  (Ph.D., Columbia University, Department of Anthropology).  Research Topic:  How much democracy is necessary? Proposal for an ethnographic study of cultures of companies with Employee Stock Ownership Plans (ESOPs), namely, an ethnographic study of an ESOP business with an effective ownership culture, an organizational consulting firm that has worked with that business, and an investment banking firm that does valuation work for that business.

The 2013-2014 Fellows

Kyongji Han is researching how individual workers respond to aspects of their Employee Stock Ownership Plan (ESOP) and how this response relates to team performance using a newly designed survey of an S corporation ESOP.  She is currently a Ph.D. candidate in the School of Management and Labor Relations at Rutgers University and has been appointed an Assistant Professor in the Labovitz School of Business and Economics at the University of Minnesota at Duluth starting in the Fall of 2013.

Tom Malleson is studying the kinds of economic arrangements that would successfully institutionalize political philosopher John Rawl's concept of a "property-owning democracy" and create broad-based citizen capital ownership using a literature review and qualitative analysis.  He is a Lecturer in the University of Toronto Department of Political Science with a Ph.D. from the University of Toronto in Political Theory.

Tricia McTague is examining the experience of workers and managers in the seventy-five unionized Employee Stock Ownership Plan (ESOP) Homeland Food Stores in Oklahoma and Texas in order to understand the relevance of employee ownership to unionized workers.  She is an Assistant Professor in the Department of Sociology at Eastern Michigan University in Ypsilanti, Michigan with a Ph.D. in Sociology from North Carolina State University.

Molly Noble is examining how firms access financing in industries where employee ownership is prevalent, including Employee Stock Ownership Plans (ESOPS) and what the role of financing is in different types of employee ownership arrangements using interviews and surveys.  She is a Ph.D. candidate in the Department of Sociology at the University of Wisconsin.

Stephen H. Wagner is researching the effects of changes in the market value of Employee Stock Ownership Plans (ESOPs) on the mental health of worker owners using the University of Michigan-designed U.S. Government Health and Retirement Study data.  He is an Assistant Professor in the Department of Management at Governors State University College of Business and Public Administration in University Park, Michigan with a Ph.D. in Organizational and Industrial Psychology from Northern Illinois University.

The 2012-2013 Fellows

George Cheney

George Edward Cheney, a Louis O. Kelso Fellow, is evaluating the best practices to develop a worker ownership culture using worker orientations, training, human resource management practices and corporate communications collaborating with the Ohio Employee Ownership Center and with several local and regional projects in diverse areas of the U.S.  He is a Professor at the Kent State University School of Communication Studies and Coordinator of Doctoral Studies and Interdisciplinary Research in Communication and Information with a PhD. from Purdue University in communications.

Kyle FarmbryKyle Farmbry, a Louis O. Kelso Fellow, is seeking to understand the legal barriers to the further growth and development of broad-based Employee Stock Ownership Plans and the relevance of  ESOPs to poverty alleviation and wealth creation for citizens.  He is an Associate Professor and Director of Undergraduate Programs at the Rutgers University School of Public Affairs and Administration and a Juris Doctorate candidate at the Rutgers University School of Law with a PhD. from George Washington University in Public Administration.

Andrea Kim

Andy Kim, a Louis O. Kelso Fellow, will survey how employees’ views about their company’s Employee Stock Ownership Plan affects their attitudes and behaviors.  He is a PhD. candidate in the Rutgers University School of Management and Labor Relations Program in Industrial Relations and Human Resources.

Sanjay PintoSanjay Joseph Pinto, a Louis O. Kelso Fellow, will conduct a study about the orientation of union decision-makers in the United States towards employee stock ownership.  He is a PhD. candidate in the Harvard University Program in sociology and social policy.

Richard Simpson

Richard Simpson, a Louis O. Kelso Fellow, is examining Leland Stanford’s legislative support of worker ownership and theory of education as a way of overcoming the central conflict of industrial capitalism in the late nineteenth century. He is a lecturer in English at the University of Miami with a doctorate in Modern Thought and Literature from Stanford University.

Jacquelyn Yates

Jacquelyn Yates, a Louis O. Kelso Fellow, is developing a survey of one of the largest networks of firms with Employee Stock Ownership Plans in the United States, namely, in the State of Ohio as part of an ongoing longitudinal study of ESOP structure, ESOP and company governance, and management practices with in cooperation with the staff of the Ohio Employee Ownership Center. She is an Associate Professor Emerita at the Kent State University Department of Political Science with a PhD. in political science from the University of Pittsburgh.

The 2011-2012 Fellows

Dustin Avent-Holt

Dustin Avent-Holt, a Louis O. Kelso Fellow, is studying wage and stock-based income in the deregulated U.S. airline industry. He is a PhD. candidate in sociology at the University of Massachusetts at Amherst.

Francesco Bova

Francesco Bova, a Louis O. Kelso Fellow, is examining the effect of employee ownership such as ESOPs on improving a firm's transparency with its employees and the market in general. He is an assistant professor of accounting at the University of Toronto Rotman School of Management with a doctorate in accounting from Yale University.

Adam CobbAdam Cobb, a Louis O. Kelso Fellow, is analyzing the role played by power differences between owners, managers and employees in determining how the corporate-based retirement system emerged and has evolved. He will be an assistant professor at the University of Pennsylvania Wharton School of Finance in the fall and has a doctorate in management and organizations from the University of Michigan.

Philip Melizzo

Phillip Melizzo, a Louis O. Kelso Fellow, is using experimental laboratory methods to help isolate and explore any independent and complementary motivational effects of employee ownership and participation in decision-making. He is an assistant professor of economics at the College of Wooster and has a doctorate in economics from the University of Massachusetts at Amherst.

Trevor Young-Hyman

Trevor Young-Hyman, a Louis O. Kelso Fellow, is researching worker ownership, ESOPs, and innovation in automated manufacturing in the Midwestern United States. He is a PhD. candidate in sociology at the University of Wisconsin at Madison.

The 2010-2011 Fellows

Steve Freeman

Steven Freeman is a lecturer at the University of Pennsylvania, Center for Organizational Dynamics. He will study the effects of Employee Stock Ownership Plans (ESOPs) adoption and how ESOPs deal with adversity.

Ryan Hammond

Ryan Hammond is a Ph.D. candidate at the MIT Sloan School of Management, Institute for Work and Employment Research. His research will focus on work practices that share ownership and decision rights in green technology industries.

Image of Jeff Moriarty

Jeffrey Moriarty is an associate professor of philosophy and business ethics at Bentley University. His work will focus on the philosophical issue of who should have the right to own and participate in firms.

Photo of Erik Olsen

Erik Olsen is an assistant professor of economics at the University of Missouri/Kansas City. He will study the emergence of majority employee-owned ESOPs, their productivity, and related policy issues.

Frank Shipper

Frank Shipper is a professor of management at the Franklin P. Perdue School of Business at Salisbury University. He will be working on case studies of firms with ESOPs and high employee involvement.