Research On Post-employment Benefit And Company Performance In Listed Construction Companies

The concept of post-employment benefit in China first appeared in the revised accounting standards for enterprises no.9--employee compensation in 2014.This is the first time that post-employment benefit is independent of social security expenditure as one of the four categories of employees' compensation,and it is clearly divided into the defined contribution plans and defined benefit plans.This shows that the benefits are no longer limited to the framework of social security,and its derivative effect is gradually taken seriously by academic and practical circles.On the one hand,it is an important labor cost for the enterprise to be paid in essence.On the other hand,the deferred payment attribute of post-service benefits and the different coverage of different post-service welfare programs have made the post-service benefits become a good incentive mechanism for employees.So what is the difference between the two effects of post-benefit benefits,and what will be the results when it comes to company performance? Based on this,this paper selects the data of the national economy pillar industry--listed construction companies in 2013-2016 as the research sample,and analyzes the influence of different post-employment benefit plans and their combination on company performance.According to the classification of post-employment benefit plans,including defined contribution plans and defined benefit plans,this paper further divides defined contribution plans into the basic endowment insurance and unemployment insurance,enterprise annuity according to different nature.Therefore,this paper mainly studies the post-employment benefit from three aspects: basic endowment insurance and unemployment insurance,enterprise annuity,defined benefit plans.First of all,by consulting the annual report,the disclosure and application of post-employment benefit of the listed companies in the construction industry were analyzed,and the implementation of the guidelines and the application of post-service welfare were grasped.Secondly,through the construction of financial indexes,the effect of different post-service welfare programs on corporate performance is analyzed in a simple way.Finally through to the human capital theory,motivation theory care and enterprise competence theory review and analysis of the research hypothesis and empirical test,obtained the different departure welfare plan and sample company existing several programs in combination with the relationship between the corporate performance.In the empirical analysis,this paper measures the performance of the company based on the characteristics of the existing research and the benefits after the separation.Due to the inability to obtain accurate data on the current input of the defined benefit plan,dummy variables are used.The existing plan portfolio in the sample companies also adopts the classification variable to study the influence of the current investment and different combination of post-employment benefit on company performance.The empirical results show that the basic endowment insurance and unemployment insurance investment of listed companies in China construction industry far exceed the enterprise annuity,and the difference between different property rights samples is obvious.State construction companies are spending more than their non-state counterparts,with more comprehensive plans.Defined contribution plans(including basic endowment insurance and unemployment insurance,enterprise annuity)and company performance have been increased after reduction of inverted u-shaped relationship,defined benefit plans are negative correlation with company performance,company performance under the plan combination of SI + EA is the best,which also verifies the above conclusion from another angle.But after the comprehensive analysis of relevant theories,index selection and practical application of the sample company,the author thinks that positive effects of defined benefit plans should not be completely denied,by changing beneficiaries to tap the potential incentive effects.This article studies the post-employment benefit of micro enterprise,which is beneficial to enrich human capital,employee compensation,and the enterprise competence theories,and to deepen the research in view of the human capital theory in construction industry.Through the simple statistics of the annual report,financial analysis and empirical test,it makes the research more comprehensive and persuasive.In addition,the conclusion can help enterprises to a certain extent change post-employment benefit cost idea,set up the management concept of human capital based on post-employment benefit,and realize the win-win of enterprise and worker finally.