Analysis On The Motivation And Effect Of Dongfang Electric Heating Technology Co.,Ltd Employee Stock Ownership Plan

For listed companies to implement employee stock ownership plan,the CSRC in June 2014 issued relevant guidance,based on the system level,for the domestic listed companies in the implementation of employee stock ownership plan provides a powerful guarantee,and promotes the development of employee stock ownership plan,is crucial.As a long-term incentive system,the employee stock ownership plan is another breakthrough in the domestic incentive and restraint mechanism after the stock option,which overcomes some defects of the incentive system.Domestic companies are widespread implementation of employee stock ownership plan,but because of the incentives is not a long history,so there are some problems in the practice stage,such as the corresponding management mechanism is not transparent,lack of effective supervision mechanism and so on.Compared to study abroad,the domestic study of employee stock ownership plan development history is not long,the current study mostly focuses on the development of the trust,legal issues and the shareholding system,etc.,few scholars is the implementation of the plan to explore the influence of enterprise performance.Therefore,based on the example,study the shareholder wealth,operation and profitability of listed companies and its implementation of employee stock ownership plan such as checked relation,to provide reference for domestic listed companies to carry out the plan criteria,and plan for the play a good role to popularize and apply in the market.Employee shareholding is presented in this paper,on the basis of the relevant theoretical research results,combined with case analysis,etc.,to the east electric heating effect of the implementation of employee stock ownership plan and carries on the analysis,finally the relevant conclusions.The main contents are as follows:The first part mainly introduces the background,practical significance,domestic and overseas research situation,method and structure arrangement,which is the introduction part of this thesis.The second part is an overview of relevant theories.This paper mainly introduces the concept of employee stock ownership plan,human capital theory,principal-agent theory and two-factor theory.The third part is the introduction of the employee stock ownership plan.The basic situation of the company is mainly described,and the implementation plan and share structure of the plan are briefly introduced.The fourth part mainly with Oriental electric this example,the effect of the implementation of employee stock ownership plan,and explore the motivations,including the implementation of the plan to the company's motivation,implementation effect and existing problems in the implementation of employee stock ownership plan and the reason analysis is introduced.The fifth part is the suggestion and revelation.It is mainly to the east electric heating employee stock ownership plan proposal and the enlightenment.