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The Research Of The Impact Mechanism Of Employee Stock Ownership Plans On Firm Performance

Posted on:2018-04-09Degree:MasterType:Thesis
Country:ChinaCandidate:L ZhuFull Text:PDF
GTID:2359330536487852Subject:Business management
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With the competition becoming increasingly fierce in society,how to improve enterprise performance has become one of the issues which enterprises most care about.The competition among enterprises is the competition among persons with ability in the final analysis.How to attract talent and bestir talent has become the key of enterprises to survival and develop.As one of most important stock-based incentives measure,Employee stock ownership plan is long-term,high-profit,and it can improve employee status.It has been widely attended by scholars.Scholars had done many research on the relationship between employee stock ownership plan and enterprise performance,but the conclusion was inconsistent.In the early 90 s,Pierce tried to study the incentive mechanism of ESOP based on psychological ownership.By reading domestic and foreign literature,we proposed the research hypothesis and a preliminary model.This paper built a model “objective ownership-psychology ownership-enterprise performance”.This paper adopted empirical research,through the survey to employee shareholders and using SPSS and AMOS to analyze data,finally we tested the hypothesis proposed in this paper.The conclusion of this paper are as follows:(1)Equity rights of ESOP and enterprise performance are positive correlation,and psychological ownership plays an intermediary role in them;(2)Control rights of ESOP and enterprise performance are positive correlation,and psychological ownership plays an intermediary role in them;(3)Information rights of ESOP and enterprise performance are positive correlation,and psychological ownership plays an intermediary role in them;(4)The effects of equity rights,control rights and information rights on enterprise performance are also different,control rights have the biggest impact on enterprise,equity rights are the second,information rights are the least.
Keywords/Search Tags:Employee stock ownership plan, objective ownership, psychology ownership, enterprise performance
PDF Full Text Request
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