“…The employee ownership literature suggests that employee ESOP satisfaction depends on the extent to which the ESOP meets employee needs and expectations for financial gain, influence in company decision making, and a sense of greater involvement in the company (French, 1987;Klein, 1987;Long, 1979;Tannenbaum, 1983). We hypothesize that the meeting of these expectations, in turn, depends on five factors; (a) characteristics of the company ESOP, (b) employee status within, and understanding of, the ESOP, (c) employee values, (d) interactions between employee and ESOP characteristics, and (e) halo, the employee's general attitude toward the organization as a whole.…”