Research On The Impact Of Employee Stock Ownership Plan On Enterprise Performance

As social competition continues to intensify,how to effectively improve corporate performance has become a major concern for each company.For enterprises,competition in many aspects also boils down to talent competition.What measures need to be taken to effectively attract,motivate and retain talented people is particularly important for improving the performance of modern companies.Since the guidance issued by the China Securities Regulatory Commission in June 2014,many listed companies have implemented employee stock ownership plans one after another,which has kept the heat of the plan rising.Based on the relevant research status at home and abroad,whether employees' shareholdings have influence on business performance has not reached a unanimous conclusion.This article is based on this background,based on the theoretical research,it empirically analyzes the influence of employee stock ownership on corporate performance,and demonstrates the impact of employee stock ownership on corporate market performance and the impact on corporate financial performance.The employee stock ownership plan as one of the important means of equity incentives plays an increasingly important role in modern corporate governance.The employee stock ownership plan distributes a certain percentage of internal corporate shares to employees through different methods.In order to study the influence mechanism of employee stock ownership plan on firm performance,this paper adopts the reading of domestic and foreign literature,from the perspective of empirical research analysis,and puts forward two research hypotheses.Through collecting the empirical data of 152 listed companies,and then using SPSS,Excel and other software for statistical analysis,and then verify the hypothesis and draw the conclusions of this study.The study found that:(1)The proportion of management's shareholdings is positively related to corporate financial performance.(2)The proportion of manufacturing management subscriptions is positively correlated with the market performance of the company.(3)The proportion of ordinary employees in the manufacturing industry has a negative linear relationship with market performance.