Font Size: a A A

The Exploration Of ESOP In The Background Of Mixed Ownership Reform

Posted on:2017-03-21Degree:MasterType:Thesis
Country:ChinaCandidate:Q LiuFull Text:PDF
GTID:2309330485457950Subject:Asset Assessment
Abstract/Summary:PDF Full Text Request
With the deepening of the new round of state enterprises reform, mixed ownership reform has become a top priority of state-owned enterprise reform. The reform is not a new thing, it has already carried out in the traditional competitive industries, and those companies have achieved remarkable results. In order to continue to implement relevant requirements on deepening the reform of state-owned assets which the CPC Central Committee and the State Council issued early. Many state-owned enterprises continue making the efforts to explore the development of mixed ownership model of economic reform.May 2015, the SASAC put forward "the State-year 2015 guidance and supervision of the State-owned work plan" and issued 25 specific guidance in the same time which includes a series of management measures for the implementation of ESOP local SASAC coordinating the development of pilot enterprises and vigorously support the implementation of the employee Stock ownership pilot work. ESOP, as a reform model of mixed ownership, is not only beneficial to the ownership structure optimization, but also help the internal management and technical personnel backbone have a sense of ownership and mission through equity incentive. So that, the employee will be willing to link their personal interests and their long-term benefits with the sustainable development of the company.From the point that ESOP is being a model of mixed ownership reform, the paper use case study methods on the basis of relevant theories, selecting Conch Group as a case study to analyze its success of conducting the reform by ESOP. This paper is divided into two main parts, the first part describes the basic information of Conch Group and its the process to change into mixed ownership by ESOP, including the establishment and development of employee stock ownership model; the second part is the case analysis, first of all, we analyze Conch Group’s motivation of implementation of the ESOP; secondly, we study the details of Conch Group’s ESOP; thirdly, we continue to analyze the role of the ESOP in Conch Group; Finally, we reveal the effect of ESOP as a model of mixed ownership reform, including ownership structure, governance structure and corporate performance. And in the part of corporate performance, we evaluate Conch Group with the method of EVA performance evaluation, which is consistent with the purpose of mixed ownership reform, and then select several financial indicators to reflect the employee-owned utility. In the end, we make a conclusion and summarize the successful experience in the process of Conch Group achieving mixed ownership by using ESOP.Through the analysis of this paper, the Conch Group, I believe that this method of mixed ownership reform, ESOP, will not only improves employee’s motivation, but also achieves the deep integration with the main business and capital operation. Finally, it reflects the function of using ESOP to complete the mixed ownership reform, which will make a meaningful example in the process of mixed ownership reform in our country.
Keywords/Search Tags:Mixed-Ownership Economy, Reform of State-Owned Enterprises, ESOP, EVA
PDF Full Text Request
Related items