Study On Implementation Effect Of Muyuan's Employee Stock Ownership Plan

Employee Stock Ownership Plan(ESOP)was born in the United States at the end of the 18th century,and has proved to be an effective incentive method in the course of years of development.Esop effectively binds personal interests with group interests,so as to establish employees' sense of ownership and enhance their inherent enthusiasm.China's esop started relatively late.In recent years,China securities regulatory commission and relevant departments have issued relevant documents on esop in listed companies.Different from the mature esop in foreign countries,esop in China is relatively lack of experience and case study.According to the research results at home and abroad,scholars have different opinions on the effect of esop,and no consistent conclusion has been reached yet.In order to further study the role of esop in listed companies,this paper conducts a case study on the esop of Muyuan stock in order to have a deeper understanding of esop in the study.Based on relevant theories of Employee Stock Ownership Plan(ESOP),this paper adopts case study method to analyze Employee Stock Ownership Plan(ESOP)of Muyuan stock co.,LTD.At the same time,horizontal comparison and vertical comparison are used to compare the company situation before and after the implementation of esop and the development speed of enterprises of the same scale in the same industry.In this paper,after consulting relevant research literature at home and abroad,combining with the motivation and economic consequences of the implementation of employee stock ownership plan by Muyuan shares,the operation mechanism of the employee stock ownership plan is sorted out,and the case introduction,scheme analysis and evaluation of the three phases of employee stock ownership plan implemented by Muyuan shares from 2015 to 2017 are made.Starting from 2014,the year before the first employee stock ownership plan of Muyuan,this paper makes a comparative study on the data disclosed by the listed company in the following years,in order to find out the changes of the company after the implementation of the employee stock ownership plan.The findings of this paper are as follows:the employee stock ownership plan of Muyuan stock improves the working enthusiasm of employees,improves the business performance of the company,and improves the corporate governance structure.At the same time,it is suggested that the same industry or human capital intensive enterprises in the development and maturity stages actively carry out the pilot work of esop.