Abstract
This research investigates the relationship between Employee Stock Ownership Plans (ESOPs) and criminal participation as measured by arrests, conviction, and incarceration among formerly incarcerated individuals. Using the 1997 National Longitudinal Survey of Youth, I find that formerly incarcerated individuals with ESOP employment are significantly less likely to be arrested, convicted, and incarcerated. This effect likely operates through improvement in labor market outcomes: formerly incarcerated ESOP employees earn approximately 25 percent more in annual income and work roughly 8.8 percent more hours per week than formerly incarcerated workers who are employed but not working for an ESOP firm.
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