Study On The Design And Implementation Effect Of Employee Stock Ownership Plan In State-owned Enterprise

In the third plenary session of the 18 th CPC central committee,the idea of actively developing mixed ownership reform was proposed.It also encouraged listed companies to carry out various forms of employee stock ownership plans.However,the total participation of a-share listed companies in China has been relatively low so far,and the participation of state-owned enterprises is less than 10%.Shanghai port group belongs to local state-owned enterprises.After the encouragement of policies,the company has implemented the ESOP,which has also aroused the common concern of theory and practice circles.The characteristics of the design of the employee stock ownership plan and its implementation effect are of great significance to other state-owned enterprises.Based on this,in this paper,the ESOP carried out by Shanghai port group the local state-owned enterprises is sorted out,and its content design features are summarized,and its implementation effect is analyzed.The study found that(1)The market reaction to the group's ESOP is positive.(2)The implementation of employee stock ownership plan has the most significant impact on employees' situation.It includes reducing employee turnover rate,improving employees' overall education degree and optimizing post structure.(3)It can alleviate the single issue of state-owned enterprises' equity,which reduces the proportion of state-owned shares by about 6% through the employee stock ownership plan.(4)The employee stock ownership plan can alleviate short-term financial pressure,but in the long run,there is no obvious effect on the asset-liability ratio.(5)Through the ESOP,it can improve the corporate performance of the upper port group and help the reform of the mixed ownership of state-owned enterprises.Research conclusion of this paper not only further enrich the state-owned enterprises through the employee stock ownership plan related theory,but also provides a way to optimize the structure and quality of employees and improve the soft power of enterprises.Meanwhile,in terms of the content design of employee stock ownership plan,it provides theoretical guidance and experience for other enterprises.