| Biological products industry is an important part of China’s economic development,the company with the rapid development of market economy,product differentiation,the competition between companies is increasingly fierce,prompting the industry in order to have more development opportunities in the market and optimize corporate governance,guarantee the company development advantage in the market.Through literature research,it is found that in order to expand their competitive advantage,many listed companies adopt the ESOP to improve the company incentive mechanism,so as to form a community of interests between the company and its employees,enhance their sense of responsibility and improve their work efficiency.However,due to various influencing factors in the ESOP,the implementation effect of the ESOP in some companies is not ideal.Therefore,it is very necessary to analyze the implementation effect of the ESOP of listed companies,to find out the defects in the plan,and to formulate and improve the ESOP according to their own characteristics.This article takes Chongqing Zhifei Biological Products Co.,LTD.(referred to as "Zhifei Biological" in this article)as the research object.After sorting out the relevant documents of the ESOP at home and abroad,it uses quantitative analysis and qualitative analysis to explore the causes and effect of the implementation of the ESOP.First of all,the literature review method is used to analyze the relevant literature at domestic and foreign,and it is found that most scholars are more concerned about the impact of ESOP on company performance when studying the implementation effect of ESOP.Therefore,after analyzing the implementation of the ESOP and the impact of the ESOP on the company’s performance,the research idea is constructed.Secondly,the relevant theories are elaborated to provide theoretical basis for the subsequent study of the motivation and effect of the implementation of Zhifei Biological ESOP.Again,analyze the motivation of the company’s own strategic development plan through the market environment of the company,and then analyze the implementation effect of the ESOP according to the changes in the non-financial indicators and financial indicators in the company’s performance management before and after the implementation of the ESOP.According to the analysis,it is found that after the stock response in the market,the personnel structure was improved,the principal-agent cost decreased,and its research and development ability was improved.In terms of finance,the growth and solvency ability are slightly insufficient,its profitability and operation ability have been greatly improved,and the comparative ranking of financial performance in the same industry has been improved,indicating that the Zhifei Biological ESOP has a positive implementation effect.Finally,summarize the successful experience of Zhifei Biological in the implementation of the ESOP,find out the deficiencies of low ESOP ratio and short shareholding period,and analyze the existing shortcomings,so as to put forward relevant suggestions.This article is prepared by research the motivation and effects of the implementation of Zhifei Biological ESOP,find out the advantages and disadvantages of the plan,and hope to provide reference for other companies to implement ESOP. |
