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The Research On The Existent Legal Problems Of ESOP Concerning The System Reformation Of Government Enterprise

Posted on:2005-02-08Degree:MasterType:Thesis
Country:ChinaCandidate:X M LiFull Text:PDF
GTID:2156360152470835Subject:Law
Abstract/Summary:PDF Full Text Request
ESOP was originated from United States in early 20th century, which has boomed in the United States since 70s of the 20th century and brought favorable economic and social benefits. Hereafter, western countries such as Japan. Britain. France and Germany. etc. have been following in the footsteps of the United States and put ESOP into practice. At present, there have been nearly 60 countries implementing ESOP to greater or lesser degrees. ESOP has become an international tide.The existing ESOP in our country came with the reformation of government enterprises into joint stock enterprises. And the prime tide of ESOP came into being around 1992. Thereafter, during the period of about 10 years. ESOP has experienced three phases and some kinds of changes in mode. But the uniform mode has not come into being in all quarters up to the present as disputes in economic circles and jurisprudential circle about success and failure in terms of economy and the existent legal matter concerning the implementation of ESOP in government enterprises.ESOP has direct influence on the success and failure of government enterprise reform. The author has composed the article in order to figure out whether ESOP is the best solution of the system reformation of government enterprises as some scholars has stated, which has been taken as the incentive system of enterprises in western countries. The said article is divided into four chapters and sections thereof. Mostly, the research techniques of economics analyses, anatomy, contrast andargumentation of legal relations are adopted in the article. Starting from the origin of ESOP. the author has indicated the instance and specific character of ESOP development in foreign countries, and analyzed the excellence and disadvantages of ESOP in the changing government enterprises into limited-liability company system currently, and pointed out that the main reason of poor efficiency of enterprise in China is not non-positivity of the employees but their strong aversion to the unfair social events due to shrilly abuse of rights by the management level (both the government and enterprise level).The core of the reformation of government enterprise is not the problem of property right or obligation right but the independence of management system and market equity ,that is how to create and carry out the equity system of "Benefit Counterparts" which ensures economic benefit. Besides, the author has carried out preliminary exploration in some legal issues in ESOP during the system reformation of government enterprises: and has put forward that the omission of law concept must be stressed highly and solved during the system reformation of government enterprises to settle employee shareholding in the system reformation of government enterprises for the moment in our country, and that the existent legal problems of ESOP during the system reformation of government enterprises must be taken into account seriously and change basically the confusion complexion of shareholding by employees during the system reformation of government enterprises by legislation; and that the trusting system of employee shareholding shall be designed, and the form of employee shareholding of government enterprises system reformation be regulated; and that the shareholding by management level in reforming enterprises be regulated to avoid social polarization and social unrest and to realize the order value of laws; and the shallow scheme and ideas of legal settlement such as ascertaining legislatively the retention period of shares held by employees and regulating employee shareholding and so on.
Keywords/Search Tags:system reformation of government enterprises, employee shareholding, trust system
PDF Full Text Request
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