Media Releases

Rotman professor receives fellowship to study employee stock ownership

July 8, 2013

TORONTO, ON – An assis­tant pro­fes­sor of account­ing at the Uni­ver­si­ty of Toronto’s Rot­man School of Man­age­ment has received the Accu­rate Equi­ty Fel­low­ship for 2013 – 2014. Over the next year, Prof. Francesco Bova will assess the caus­es and effects of vari­a­tions in equi­ty-based com­pen­sa­tion across inter­na­tion­al employ­ees of U.S. multi­na­tion­als.

The Fel­low­ship was estab­lished at the Rut­gers’ School of Man­age­ment and Labor Rela­tions in order to sup­port aca­d­e­m­ic research on broad-based employ­ee stock own­er­ship.

“As broad-based equi­ty plans have spread in North Amer­i­ca, multi­na­tion­als based in North Amer­i­ca, Europe, and Asia, have been imple­ment­ing glob­al employ­ee stock own­er­ship plans world­wide with their entire work­forces. Very lit­tle is under­stood about the impact of com­pen­sat­ing inter­na­tion­al employ­ees with domes­tic com­pa­ny stock. Francesco Bova’s work on these ques­tions as the Accu­rate Equi­ty Fel­low is research that is deeply need­ed,” says Prof. Joseph Blasi, J. Robert Beyster Fel­low, and Direc­tor of the Fel­low­ship Pro­gram at Rut­gers.

“I’m very pleased that we award­ed Francesco this fel­low­ship, as he is one of the top schol­ars in the employ­ee own­er­ship field and this should help him con­tin­ue his high-qual­i­ty work,” says Prof. Dou­glas Kruse, Pro­fes­sor and Direc­tor, Ph.D. pro­gram in Indus­tri­al Rela­tions and Human Resources at Rut­gers.

Prof. Bova’s broad research inter­ests focus on account­ing choic­es that affect both the firm’s share­hold­ers and oth­er non-share­hold­er stake­hold­ers with a vest­ed inter­est in the firm’s out­come. These oth­er stake­hold­ers include the firm’s employ­ees, cus­tomers and sup­pli­ers. He is a Louis O. Kel­so Fel­low, a Dean’s Award win­ner for Excel­lence in Teach­ing and a final­ist for the 2009 Shared Cap­i­tal­ism through Employ­ee Own­er­ship Dis­ser­ta­tion Award. He holds PhD and MBA degrees from Yale Uni­ver­si­ty and a Bach­e­lor of Com­merce from the Uni­ver­si­ty of Man­i­to­ba. He joined the Rot­man School in 2008.

Fur­ther infor­ma­tion on the Fel­low­ship is online at

The Rot­man School of Man­age­ment at the Uni­ver­si­ty of Toron­to is redesign­ing busi­ness edu­ca­tion for the 21st cen­tu­ry with a cur­ricu­lum based on Inte­gra­tive Think­ing. Locat­ed in the world’s most diverse city, the Rot­man School fos­ters a new way to think that enables the design of cre­ative busi­ness solu­tions.  The School is cur­rent­ly rais­ing $200 mil­lion to ensure Cana­da has the world-class busi­ness school it deserves. For more infor­ma­tion, vis­it


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Ken McGuf­fin
Man­ag­er, Media Rela­tions
Rot­man School of Man­age­ment
Uni­ver­si­ty of Toron­to
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