VCU SIB VCU Virginia Commonwealth University SIB

Education Programs
WWW links
VA. ESOP ED. Services
Calendar of Events
annual report

Virginia Labor Studies Center
Research and Publications

The center can help you with research by accessing the vast collection of databases and resources at Virginia Commonwealth University. We’ve conducted studies on issues that significantly impact labor and management relations such as pay equity, team environment, collective bargaining, and performance appraisal systems. Listed below are publications on the research that has been conducted concerning these topics.

For articles relating to:

Compensation and Benefits | ESOPs | Human Resource Management | Labor Management Relations

Compensation and Benefits

International Stock Option use for Compensation, International HR Journal, V. 7,      (No. 4), Winter 1999, pp. 59-62.

This article addresses companies contemplating using stock options outside the U.S. and their need to understand what may constitute barriers to their successful adoption of stock options, including aspects of national culture and the status of the local economy.

Performance Appraisals and Pay-for-Performance Plans. Journal of Compensation and Benefits, V. 12, (No. 3), November/December 1996, pp.  41-46.

Studies show that many employees fear and distrust performance appraisals. The paper discusses common problems and trends associated with employee evaluations, how Human Resources can strengthen the performance appraisal process, and what actions can be taken to increase the functionality of pay-for-performance incentive plans. Many employees view performance appraisals as nothing more than a year-end obligation that has little true meaning.

Strategic Compensation Management: The Changing Patterns of Pay and Benefits. Journal of Compensation and Benefits, V. 12 (No.2), September/October 1996, pp. 34-35.

Many companies still base their reward systems on the 1950's compensation model made popular during the brief period when U.S. companies dominated the world. With today’s increasingly competitive market, this paper discusses the new trends in pay and benefit structures, which are increasingly linked to the organization’s long-term strategic planning objectives.


The Complex Issues of Pay Equity.  Journal of Compensation and Benefits, V. 12 (No.4), January/February 1997, pp. 34-39.

Pay equity is a difficult and growing issue in companies today. Logically and simplistically, companies prefer to obtain their employee’s maximum output and employees want fair wages for this desired level of productivity. The paper discusses the different perspectives concerning pay equity from the employer and employee standpoint.


The Use of Electronic Data Bases to Determine Compensation and Benefits.  Journal of Compensation and Benefits, May/June 1995, V. 10 (No.6), pp. 47-51.

A small employer, with the resources to conduct full-scale salary surveys, can use electronic databases to determine if its compensation structure differs materially from those of its competitors. Publicly available electronic databases, such as those maintained by the federal government or by private vendors, provide a vast amount of salary information, including information on wage surveys.


The Role of Behavioral Finance and Retirement Education,  Journal of Compensation and Benefits, V.16 (No. 3), May/June 2000. pp. 41-47

This paper discussed the transition from defined benefit to defined contribution pension plans in the retirement benefit arena, and the shift in financial planning responsibility that follows such change.  The issue is analyzed through behavioral finance ideology, which describes individual investors as often unable to make sound investment decisions.  In order to avoid poor management of assets, and consequent loss in future retirement income of employees that participate in defined contribution plans, program sponsors are urged to provide retirement education to encourage workers to plan  and save for retirement.


Defined Contribution Plans Worldwide: Acknowledging Ethnopsychological Variables and Enabling Workers, International HR Journal,  V. 9 (No. 2), Summer 2000, pp. 13-20

The paper discusses the growth of defined contribution plans in public and private pension schemes worldwide, as a consequence of social security reforms, growth of continent work and work force mobility and as a strategy adopted by corporations to share the investment risk and responsibility with employees.


Executive Compensation and Stock Indexing:  A Long-Term Approach, Journal of Compensation and Benefits.  V. 14 (No.3), November/December 1998, pp. 19-23.

This Article examines the continuing debate about the effectiveness of use of stock options in executive compensation packages.  among the findings discussed are: the assumed importance of the CEO to the financial success of the company; the method used to measure CEO performance  and the underlying assumptions that accompany this process; and identifies several options available to companies seeking executive compensation strategies that are compatible with stockholder interests, such as longer term stock and salary strategies.


Connecting CEO Performance to Corporate Performance: Examining Intangible Metrics of Shareholder Value. Trumble, Robert R. and DeLowell, Angela N.  Journal of Compensation and Benefits, Vol.17, (no.6).

This report outlines the conditions necessary to quantify, measure, and report performance on relevant tangible and intangible criteria and, perhaps, to draw a more substantial connection between executive compensation, corporate performance, and CEO influence.


“Global CEO Compensation Analysis: Applying the CEO- Corporate Performance Model.Trumble, Robert R. and DeLowell Angela N. International HR Journal, Vol. 11 (no. 2). 

This report discusses applying the CEO-Corporate Performance Model introduced in “Connecting CEO Performance to Corporate Performance” to international organizations.


"Retirement Benefits: Educational Complexities and Options" Trumble, Robert R. and Lawson, Gregory.  Journal of Compensation and Benefits, May/June 2002. 

This article has been developed from research of area retirement benefits.  It looks at the significance of behavioral finance, current employee financial education for retirement, and external tools and guides to facilitate this education



Employee Stock Ownership Plans   ESOP

ESOP Tax incentives: New Proposals Enhance a Powerful Financial Tool, Journal of Taxation of Employee Benefits, November/December 1999 pp. 160-163

ESOPs can provide tax incentives to not only the sponsoring company and the employees, but also to selling shareholders in closely held companies, the existing stockholders, and the nation as a whole


The Benefits of ESOPs, Journal of Compensation and Benefits, V.15 (No.3), November/December 1999, pp. 10-13

ESOPs, which are often established either in addition to existing benefit plans or replace other defined contribution plans, offer many benefits to both sponsoring employers and participating employees.


International ESOPs:  Variations in Complexities, International HR Journal, Summer 2000, pp. 5 -8

ESOPs have been growing in popularity in the U.S. for several decades.  Changes in the global economy have opened the door for the introduction of global ESOPs


Employee Stock Ownership Plans: International Variations, International HR Journal, Spring 2001,  pp. 11-14

The decision of whether an ESOP will be successful is examined using Geert Hofstede's characteristics that define a culture - individualism vs. collectivism, uncertainty avoidance, quality vs. quantity, and power distance.


Financial Valuation Techniques and Strategies: ESOP ComplexitiesValuation Strategies, Vol. 4 (No. 5), May/June 2001, pp. 42-47

ESOP shares must be valued fairly to ensure that both the employer and employees get the maximum benefit from this powerful financial tool.  Many variables must be considered when valuing shares, and some controversy still exist as to the proper methods to apply to ensure fairness.


“Employee Stock Ownership Plans:  International Variations”, Trumble, Robert R. and Hawkridge, Karen.  International HR Journal, Vol. 10 (no.1).

This report examines the four points that can guide the decision of whether an ESOP will be successful.  Those four points are: individualism vs. collectivism, uncertainty avoidance, quantity vs. quality, and power distance.


“Financial Valuation Techniques and Strategies: ESOP Complexities”, Trumble, Robert R. and Knight, David L. Valuation Strategies, Vol. 4 (no. 5). 

 This article looks at the complexities of valuation of ESOP shares and discusses methods that could be applied to ensure fairness.


Human Resource Management

Computer Assisted Performance Appraisal Systems. Journal of Compensation and Benefits, V.12 (No.6), 1997, pp. 34-35.

This article addressed the growing importance of conducting meaningful evaluations and whether managers are using computers to conduct performance appraisals. Organizations should consider using these systems as they allow instant update of performance incidents as they occur, assist in defining job descriptions, and the creation of effective appraisal forms.


Cultural Integration: An Examination of Success for United States and Japanese Business Mergers.   International Journal of Management,  V.13 (No.1), March 1996, pp.52-59.

Companies, whether foreign or domestic, often decide to integrate as a quick method to obtain new markets, acquire new technology, expand operations, or use excess investment capital. However, one study concluded that about two-thirds of merged companies would have made more money if the firms had instead invested their capital into certificates of deposit. This paper examines the current research issues involved with merging with a Japanese firm. Areas that will be explored will be common pitfalls of all mergers as well as the large amount of cultural considerations that should be addressed.


Long-term Horizon and Financial Management: Japan’s Competitive Advantage over the United States . Management Research News, V.19 (No.7), pp. 8-22.

The time dimension of a country is a key determinant of the time horizon prevalent in the business sector. The long-term horizons of Japan compared with the short-term horizons of the United States are integral parts of their distinct business ideologies. There is a direct impact on their respective financial practices. A comparative analysis of the financial management ideologies, practices and techniques, within the framework of time horizon, offers an explanation of Japan’s inordinate economic success in the global market.


Significant Historic Origins that Influenced the Team Concept in Major Japanese Companies.  Journal of Applied Business Research. 1996,  pp.115-129

Major historical aspects of the Japanese people reinforce their continued inclination to conform to societal norms at the cost of their own individualism. We look at this unique characteristic of their country, often referred to as a need for dependence versus the need for independence, with a historic perspective. We seek to identify these historical roots and its ramifications on the successful team-based management style.


Successful Management of the OSHA Process Industrial Management, V.10 (No.3), May/June1995, pp.16-19.

A business is often unprepared to deal with regulation by the Occupational Safety and Health Administration (OSHA). Most do not know how to effectively handle the OSHA penalty process. In the last two years, Congress has mandated increases in fines by 700 percent. By simply avoiding these fourteen common mistakes, most companies will have a better experience when OSHA comes knocking on the door.


Using Communication Consultants to Rightsize Successfully.   The Journal of Technical Writing and Communication, V.27 (No.1), 1997,pp. 87-93.

Successful rightsizing requires that managers preserve the morale and productivity of the remaining employees. A communication consultant can offer invaluable guidance on how to 1) maintain employees morale, 2) help employees perceive layoffs as fair, 3) take care of employees who have lost their jobs, 4) assist management with layoff decisions, 5) help remaining employees cope with change, and 6) maintain effective communication with workers. On these sensitive topics, management will benefit from advice that is external, expert, and soundly based.


Work Teams: Why Do They Often Fail? SAM Advanced Management Journal, V. 61 (No.4), 1996, pp. 31-39.

Discusses the reservations of both management and employees concerning the long-term success of teams, along with offering concrete recommendations on how to properly implement these groups and how to troubleshoot common team problems. The areas addressed are essentials for making the change to a team environment, presenting the team concept to employees, handling lower management resistance, and the training required to form successful teams.


Cross Cultural Training: Preparing the Expatriate,  International HR Journal,  V.8 (No.4), Winter 2000, pp. 39-44.

Cross-cultural training, particularly that based upon sound cultural theory, may be an answer to such difficulties as high failure rates, the inability of expatriate spouse and family to adjust to the new culture, low performance results on expatriate assignment, and high turnover rates of expatriates upon repatriation.


The Aging Workforce: Searching for Ageism-Free HR Policies and New Learning Technologies,  HR Advisor: Legal and Practical Guidance,  V. 6 (No. 5), September/October 2000, pp.15-21. 

The article discusses how organizations can benefit from valuing older workers and their numerous qualities, and how new technologies in distance learning are an advantageous strategy for employers and convenient alternative for older employees.


“The Complexities in Creating Career Ladders for Secretaries” Trumble, Robert R.  and Eure, Shauniquea R. HR Advisor, Vol. 8 (no.1). 

This article focuses on the drawback within many organizations regarding the continued lack of advancement opportunities provided to office support staff, especially secretaries.  With the increase in office automation and technological advancement in office support functions, the outlook of the secretarial and administrative staff should have improved.


Labor Management Relations

Accounting Can Improve Labor-Management Negotiations.   Management Accounting, V. LXXVI (No.12),  June 1995, pp. 46-52.

Should accounting information be shared between labor and management when the two sides negotiate? Would it make a difference to either side? We conducted a five year long inquiry to test the belief that accounting data can be used to bring about speedier, more harmonious, and hence, lower-cost labor-management negotiations, leading to a more productive and profitable work environment. We found that sharing of financial data can help smooth bargaining.


Equitable Collective Bargaining Through Publicly Accessible Financial Data .
Journal of Collective Negotiations in the Public Sector, V.25 (No.2), 1996, pp. 89-98.

This article reveals how union leaders (or other employees) can obtain and utilize publicly accessible company financial information when their firm is reluctant to share it. The complete sharing of financial data by management is believed to make the typical collective bargaining process more equitable for all parties involved. However, even if this information is not fully shared, the union can still collect a substantial amount of company financial data from other sources.



Virginia Labor Studies Institute
1015 Floyd Avenue, Suite 1113
Richmond, VA 23284-4000
OFFICE: (804) 828-7484 or
(800) 793-VLSC (8572)
FAX: (804) 828-4340

© 2001 School of Business, Virginia Commonwealth University. All Rights Reserved
Last Updated 03/08/2002
This page is maintained by the Tracy A. Jolley