Is employee stock ownership associated with better or worse corporate performance? Theories on this question are mixed, with predictions of both positive and negative effects. This study examines public companies where employees are major stakeholders through broadly based employee stock ownership, and compares the performance of these companies with other public companies. There are a variety of ways in which employees directly or indirectly own stock of their employer, including Employee Stock Ownership Plans (ESOPs), stock option plans, individual purchases of stock, and most types of pension plans, deferred profit sharing, stock bonus, and defined benefit plans). This includes stock options.