The paper examines employee stock ownership plans in South Korea. The incidence and characteristics of ESOPs in publicly traded manufacturing firms is reported. Korean employees do not participate in ESOPs either financially or in decision-making to the extent they could under the law. Evidence...

There is active debate in transition economies about the extent to which employee and foreign ownership ought to be encouraged or discouraged in privatization; but empirical evidence is scarce. This paper employs a unique data set on Slovene firms in an early period of "spontaneous...