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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