The findings of this research have several practical implications for organizations.
Employees do have a sense of psychological ownership in terms of met expectations
when they are offered stock options. However, this sense of ownership weakened when
the stock earnings were decreasing. It is possible that stock prices may be decreasing
due to stock market meltdown, which may not be the fault of the company. However,
for employees it comes as a disappointment when the stock value is not significantly
higher – some times even lower – than the option price. When this happens, the ESOP
does not seem to have a positive impact on equity perceptions and attitudes such as
organizational commitment and employee turnover intention. Under these
circumstances, companies may – if the regulation related to stocks permit – revise
the stock option price to create a favorable impact for the employees. What might be
the relationships between stock option variables, equity perceptions and met
expectation when the stock prices are increasing and/or stagnant itself might be an
interesting question to explore in future? In other words, do different models of
relationships among stock options, equity perceptions, psychological contract, and
attitudes under different conditions of stock gains versus losses need to be examined.
The findings of this research have several practical implications for organizations.
Employees do have a sense of psychological ownership in terms of met expectations
when they are offered stock options. However, this sense of ownership weakened when
the stock earnings were decreasing. It is possible that stock prices may be decreasing
due to stock market meltdown, which may not be the fault of the company. However,
for employees it comes as a disappointment when the stock value is not significantly
higher – some times even lower – than the option price. When this happens, the ESOP
does not seem to have a positive impact on equity perceptions and attitudes such as
organizational commitment and employee turnover intention. Under these
circumstances, companies may – if the regulation related to stocks permit – revise
the stock option price to create a favorable impact for the employees. What might be
the relationships between stock option variables, equity perceptions and met
expectation when the stock prices are increasing and/or stagnant itself might be an
interesting question to explore in future? In other words, do different models of
relationships among stock options, equity perceptions, psychological contract, and
attitudes under different conditions of stock gains versus losses need to be examined.
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