@article {1971061,
	title = {Does Employee Ownership Increase Innovation?},
	journal = {New England Journal of Entrepreneurship},
	volume = {13},
	year = {2010},
	month = {2010},
	pages = {37-46},
	abstract = {One way that firms attempt to innovate is through investment in R\&D activity. However, there is much heterogeneity in innovations among firms making comparable R\&D investments. This paper explores employee ownership{\textquoteright}s moderating effect on the relationship between R\&D intensity and innovative output. The basis for the moderation is that ownership increases motivation and commitment to the innovation agenda of the company, and retains employees{\textquoteright} entrepreneurial efforts for internal opportunities. Using hierarchical regression, the data support the hypothesis that employee stock ownership positively moderates the relationship between R\&D intensity and innovative output. Implications for future research and practice are addressed.},
	keywords = {Strategy \& Entrepreneurship},
	url = {http://www.sacredheart.edu/download/3539_neje_fall10.pdf},
	author = {Garrett,Robert}
}
