Research On The Influence Of Employee Stock Ownership Plan On Financial Status Of Listed Companies

The employee stock ownership scheme originated from western countries,and western countries began to conduct theoretical research and empirical analysis on employee stock ownership scheme.The development of employee stock ownership scheme in China has experienced ups and downs,and even stagnated for a time.In recent years,many listed companies have launched employee stock ownership schemes.According to the research status at home and abroad,most of the employee stock ownership schemes in the industry and academic hold a positive view.There are few empirical analyses on the financial status of the enterprise by employee stock ownership schemes in China,which is the research objective of this paper.This paper first summarizes the background of the current employee stock ownership plan.Secondly,to summarize the concept of the employee stock ownership plan and to include the employee's ownership plan in the context of the employee's ownership scheme and a portion of the employee stock options.The core of the implementation of the employee stock ownership plan is to motivate employees while playing the role of supervision and restraint.To stimulate the enthusiasm of employees while improving the efficiency of enterprise production,and then improve the financial situation of the enterprise.This paper puts forward relevant hypotheses on the relationship between employee stock ownership scheme and corporate financial status:(1)The implementation of the employee stock ownership plan has a significant positive impact on the financial situation of the enterprise;(2)The implementation of some employee stock ownership schemes has a significant positive impact on the financial situation of enterprises;(3)The larger the proportion of some employee stock ownership schemes,the better the financial situation of the enterprise;(4)Restricted stock in some employee stock ownership plans has a more positive impact on the financial situation of enterprises;(5)The larger the shareholding ratio of the management,the better the financial situation of the enterprise.Through empirical analysis,this paper examines whether the implementation of employee stock ownership scheme can improve the financial status of the enterprise.This article selects the deep Shanghai two cities in 2015-2017 a-share listed companies as research samples,select the typical financial indicators and principal component analysis is used to comprehensive evaluation of enterprise financial situation,at the same time by using the multivariate regression linear regression model to test the listed company implement employee share schemes and whether there is A correlation between enterprise's financial position.At the same time,the multiple linear regression model is used to test the relationship between the employee stock ownership scheme and the financial status of listed companies.Finally,this paper draws a conclusion based on the results of empirical test and puts forward corresponding suggestions.