Research On The Effect Of ESOP Under The Reform Of Mixed Ownership

At present,the economy of our country presents a new normal state,the state-owned enterprises maintain the lifeblood of our country,and continue to deepen the reform of state-owned enterprises is still the most important part of the work of the central government.From the third Plenary Session of the 18 th CPC Central Committee 2013,it was proposed that "allow mixed ownership economy to carry out employee stock ownership" and regard employee stock ownership as a possible breakthrough in "mixed reform".A series of policy opinions have been published one after another.It is the first time to standardize the employee stock ownership from the national system level,which means that our country has ushered in the "ESOP" of the state-owned enterprises."The new age.Although employee stock ownership plan can play a long time to motivate employees,improve the level of corporate governance and the role of equity structure,the employee stock ownership plan is of far-reaching significance.However,at present,the employee stock ownership plan in the new round of state-owned enterprise reform in China is still in the pilot stage,which means that the employee stock ownership plan is in the reform of state-owned enterprises in our country.In practice,no universal mode has been formed yet,and most of the related theoretical researches are concentrated on empirical research,which lacks guidance for practical research.Therefore,this paper makes a case study on ESOP under the background of "mixed reform",which aims to provide reference for the follow-up of ESOP in the state owned enterprises,which is of great significance to the implementation of ESOP in the implementation of the state-owned enterprises in China.The case study is the Shanghai Shanghai Hong Kong Group,the Shanghai Hong Kong Group as the first batch of employee stock ownership plan,through the analysis of the plan and implementation effect of its employee stock ownership plan,summarizes the possible problems and gives some suggestions,aiming at promoting the follow-up reform of the Shanghai Hong Kong cluster to other state-owned enterprises.The employee stock ownership plan provides guidance.This article is divided into six chapters to analyze and write,the first chapter is the introduction department,which mainly introduces the background of the topic,the significance and the goal,the research method and the framework,and the research status at home andabroad,which aims at setting the key and research direction for the full text,and the second chapter is the related theory of the employee stock ownership plan.The present situation of the implementation of ESOP in China's state-owned enterprises is analyzed.The third chapter is the part of the implementation of ESOP in the case of Shanghai Hong Kong Group,introducing the Shanghai Hong Kong Group,and focusing on the feasibility and implementation process and key points of the implementation of ESOP in Shanghai Hong Kong Group,aiming at the following results.The fourth chapter is the key point of this article,that is,the analysis of the effect of the implementation,the four aspects of the capital structure,the ownership structure,the financial structure and the staff change,which can lead to the positive effect.The existing problems are aimed at evaluating the effect of its implementation in all aspects;the fifth chapter is the suggestion and inspiration department,which is proposed to be mainly aimed at the possible problems in the employee stock ownership scheme of the Hong Kong Group,which aims to optimize the design of the ESOP plan,and the inspiration is more important to the part of the Hong Kong Group.It is to refine some general opinions for other state-owned enterprises to carry out the employee stock ownership plan for reference,and put forward suggestions to the relevant policy departments in order to continue to promote the implementation of ESOP in China;the sixth chapter is the full text conclusion part and the prospect.Through the introduction of the theoretical part and the analysis of the case,the paper concludes that the employee stock ownership plan of Shanghai and Hong Kong Group has a positive effect on the enterprise as a whole,mainly in the improvement of financial structure,the capital structure and the optimization of the ownership structure,and also to the optimization and the stability of the staff.However,due to lack of experience and restrictions,there are still some problems in the design of Hong Kong Group.At the end of this paper,some suggestions and suggestions are given to optimize the ESOP and provide experience for other state-owned enterprises in order to eventually promote the process of the mixed ownership reform.