01168nas a2200145   4500008004100000245004900041210004800090260000900138300001000147490000700157520074500164653003200909100002000941856006100961       2010                        eng d00aDoes Employee Ownership Increase Innovation?0 aDoes Employee Ownership Increase Innovation  c2010  a37-460 v133 aOne way that firms attempt to innovate is through investment in R&D activity. However, there is much heterogeneity in innovations among firms making comparable R&D investments. This paper explores employee ownership’s moderating effect on the relationship between R&D intensity and innovative output. The basis for the moderation is that ownership increases motivation and commitment to the innovation agenda of the company, and retains employees’ entrepreneurial efforts for internal opportunities. Using hierarchical regression, the data support the hypothesis that employee stock ownership positively moderates the relationship between R&D intensity and innovative output. Implications for future research and practice are addressed.10aStrategy & Entrepreneurship1 aGarrett, Robert  uhttp://www.sacredheart.edu/download/3539_neje_fall10.pdf