Research On Corporate Governance Of Southeast Asian Corporations

China’s state-owned enterprise employee stock ownership plan has been carried out three times intermittently,or because of the i mperfect system,the lack of supervision and other issues caused b y the loss of state-owned resources,seriously divorced from the ori ginal intention,making the employee stock ownership plan difficult to push,was once suspended.In 2013,the "Decision on Compreh ensively Deepening the Reform of Some Major Issues" issued by t he Party Central Committee made the employee stock ownership pl an re-enter the state-owned enterprise after a stagnation for more th an a decade.In the following years,the relevant system was conti nuously pushed forward.Apply to practice.By the introduction of t he pilot opinions on the implementation of employee stock ownersh ip in the reform of state-owned enterprises in 2016,the employee stock ownership plan has become an important means for state-own ed enterprises to achieve equity incentives.For state-owned enterpri ses,whether employee stock ownership can really bring about an i ncrease in the economic benefits of enterprises;whether it can play a role in stimulating the enthusiasm of employees,and how long it takes to promote the enthusiasm of employees.This article explo res these two aspects further.This paper first summarizes the existing theoretical basis and literature materials,and expounds the domestic and international vie ws on employee stock ownership.Through the existing empirical re search,it is found that the implementation of employee stock owne rship has positive effects on corporate performance and market effe cts..Then it gives an overview of the implementation of the empl oyee stock ownership plan for the implementation of equity incenti ves by state-owned enterprises,and elaborates on the development stage,implementation motivation and implementation characteristics.This paper,through the screening of state-owned enterprises that h ave implemented employee stock ownership plans in recent years,f ound that SAIC Group as a leader in China’s automobile manufact uring industry is more practical.This paper introduces in detail the specific content of SAIC’s employee shareholding plan,and analyz es the performance impact of SAIC’s practice of employee sharehol ding.The company’s performance analysis is mainly from three per spectives: short-term market performance,financial performance and business performance.Through research,SAIC Group’s implementa tion of employee stock holdings has a good market reaction in the short term.In the short term,especially within 10 days before an d after implementation,the stock price rose significantly,and the c umulative excess return rate increased significantly.The overall busi ness level of the company has been improved.It has a positive effect on the financial indicators of enterprises,helps enterprises to op timize the capital structure,and increases the solvency of enterprise s.At the same time,it has obvious incentives for employees in the short-term,can satisfy the sense of belonging of employees to ent erprises,optimize the structure of employees,and stimulate the ove rall The sense of innovation.Finally,by summarizing the research conclusions,we affirm the benign effect of employee stock owners hip on the company,and provide suggestions for the state-owned e nterprises to better promote employee stock ownership in light of s pecific situations.