Research On Employee Stock Ownership Plan In China

Compared with foreign countries,China's employee stock ownership research is still relatively lagging behind.Employee stock ownership plan in China's implementation process,due to the particularity of China's economic market,there have been various problems,during which was also forced to stop.However,there are still some problems such as imperfection of relevant laws and regulations,irrational distribution of stock rights,unsound employee shareholding platform,and so on,which hinders the development of employee stock ownership plan in China.China 's good development.This paper first summarizes the ESOP literature and summarizes the related theories.It finds that most of the ESOP case studies are related to the effectiveness and impact of ESOP.Effective measures to deal with the problems arising from the practice of the literature is also a small number.Throughout the implementation of ESOP in China for nearly 30 years,it is obvious that the development of ESOP in China is full of ups and downs,and still has not established a set of mature theoretical system and regulation.The success of the ESOP is not yet comprehensive.In order to solve the problem of employee stock ownership plan,this paper puts forward the corresponding measures: First,strengthen the laws and regulations and tax system construction;the second is to optimize the equity distribution program;third is to improve the staff shareholding platform.At the same time,this paper chooses the case study of Lenovo Group,which is more successful in implementation of employee stock ownership plan.By analyzing the corresponding solutions in the application of employee stock ownership plan of Lenovo Group,combined with the implementation of employee stock ownership plan after Lenovo's operating performance trends to be evidence and found that Lenovo employee stock ownership plan has the following advantages: First,dividends to equity to avoid Policy restrictions,the use of limited partnership shares to avoid duplication of taxes;the second is taking into account the old and new employees,core employees and ordinary employees of the shareholding division ratio has a good incentive,the introduction of private capital has further optimized the company's shareholding structure;Through the limited partnership as the carrier of employee stock ownership,making the company management and dividend rights clear,more flexible for the management of the holding platform,while also reducing the risk of employee shareholding.These conclusions are of great significance for solving the existing employee stock ownership plan in China.In the end,this paper summarizes the solution to solve the problem of Lenovo employee stock ownership plan,and evaluates the application of the countermeasure in Lenovo Group.The purpose of this paper is to give some reference and guidance to the development of ESOP in China.And forecast the future development of employee shareholding in our country.