3 resultados para Employee ownership

em Brock University, Canada


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The Electrical Development Company of Ontario was created in 1903. It was one of three private power companies that had water power leases with the Niagara Parks Commission, but was the only one that was financed with Canadian capital. The company built the Toronto Power Generating Station at Niagara Falls beginning in 1906, and the power house was completed in 1913. During the construction, there was much debate about whether the utility should remain privately operated or become a public utility. In 1920, the company became part of the public utility.

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There is a body of academic literature addressing two issues of importance for leveling the playing field for all classes of investors: 1) the impact of institutional investors on liquidity; and 2) the impact of Regulation Fair Disclosure on institutional investors and liquidity. Our study addresses both issues with the purpose of attaining a better understanding and explanation of this relationship. We classify institutional ownership according to Bushee's (1998, 2001) methodology; transient institutions, dedicated institutions and quasi-indexers. Our results indicate that while transient institutions and quasi-indexers have a positive impact on liquidity, dedicated institutional ownership is negatively associated with liquidity. This result is consistent with prior theoretical studies. We also find that the effectiveness ofthe Regulation Fair Disclosure in improving liquidity is limited to firms with higher transient institutional ownership, whereas quasi-indexed institutions have not been significantly affected by the regulations. In fact, the liquidity of firms is lower for firms with higher dedicated institutional holdings, which is evidence of the "chilling effect".

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The Niagara Employee Assistance Program Council was started in Welland in 1979. It expanded to a regional council in 1981. The membership consisted of companies, interested individuals, service providers and non-profit charitable organizations. The objective of this organization was to improve communication links and provide a networking framework for council members; to promote awareness of the Niagara Employment Assistance and Employee Assistance Programs within the community; to share feelings, knowledge and expertise of individuals and institutions in developing and maintaining effective Employee Assistance Programs; to bring attention to local issues and to improve on the effectiveness of Employee Assistance Programs in the Niagara region. This program assisted employees with personal problems that could affect job performance. The Niagara Employee Assistance Council was dissolved as of March 31, 2008.