Rotman School Accounting Professor receives fellowship to study employee stock ownership

Toronto, June 14, 2011 - An accounting professor at the University of Toronto’s Rotman School of Management is one of five recipients of a Louis O. Kelso Fellowship for the study of employee stock ownership in corporations and broadened ownership of capital in a democratic society.

Prof. Francesco Bova will examine the effect of employee ownership such as ESOPs, on improving a firm's transparency with its employees and the market in general. He is an assistant professor of accounting at the Rotman School and holds a PhD from the Yale School of Management.

The fellowships are presented by the Rutgers University's School of Management and Labor Relations. The fellowships honour Louis O. Kelso, a San Francisco merchant banker, lawyer and political economist. Kelso created the Employee Stock Ownership Plan (ESOP) and worked on other approaches to expand the ability of workers and citizens to acquire capital. He died in 1991. The fellowships are supported by the Employee Ownership Foundation of Washington, D.C. This is the third year of the fellowship program. For further information on the fellowship go to Rutgers School of Management.