On The Theory And Practice Of ESOP

Nowadays, China is experiencing a key period with its switching to the market economy. At the same time, the reform of state-owned enterprises has lasted for 20 years.In the course of it, the joint stock system in China develops very quickly. Most of the employees of the state-owned enterprises and the economists of our country, led by the party and government attempt to reform the state-owned enterprises in many ways including ESOP (Employee Stock Ownership Plan ), and many state-owned enterprises have gained a lot from it. However, ESOP is new to us, so we still have much to perfect not only in practice but also in theory .In this paper, the author studies the ESOP in view of Marxism plutonomy and analyzes it with the Marxism theory of productivity ?produce-mode ?produce-relation, and wants to make ESOP more practical for the reform of the state-owned enterprises.In accordance with Marxism plutonomy principle, productivity plays a foundational role in the development of the produce-mode and the produce-relation. Today ,the productivity, improved by the developing information technology, has developed very quickly. This changes the technology base of the produce-mode greatly and makes the course of production more depended on the workers' diathesis and enthusiasm, which enhances the workers' effect in the course of production and their status in the enterprises and makes a technology base for employees to own the stock of the enterprises.With the developing of productivity and the enhancement of the worker's status, the class forces in the enterprises have been changed greatly. Then, the function of workers subjected to capital has been regulated. Such affects the organization forms of the enterprises , and more and more enterprises have adopted the ESOP which make the employee play a certain role the management of the enterprises.The ESOP in the socialism country and the capitalism country has both commonness and individuality. Because the two modes of ESOP have different social circumstances, we will view them differently. However , the ESOP in the capitalism country has been developed for a long time and gained many triumphant experience, which can be used for reference by China. But we must deal with it cautiouslyThe idea of ESOP has theoretic relation to the theory of cooperative system, the theory of Marxian the joint stock system, the theory of "the joint stock system socialism" and so on. In this paper, the author will analyze these theories in the consequence of time.In the last part of the paper, the author mainly expatiates the development of ESOP in China, the problems of the ESOP in China and the realistic significance of ESOP in china, and gives the author's opinions and suggestions for policy.