Research On Legal Issues Concerning Employee Stock Ownership In Limited Liability Companies In My Countr

The Employee Stock Ownership System is an incentive model that is influenced by national policies and aims to promote company development.Employees conditionally hold company equity as a means to obtain part of the company’s management rights and the company’s remaining profit claim rights as an incentive model.At present,the Employee Stock Ownership System in China is not perfect,lacking of the relevant laws and regulations,the investment method is monotonous,which cannot fully stimulate the vitality of the system,and the insufficient rights and interests of stock-holding employees lead to the embarrassing status of the holding organization.Starting from the meaning and main types of the Employee Stock Ownership System,combined with my country’s "Company Law" and other existing laws and regulations,judicial interpretations,and policies and regulations issued by various localities and ministries and commissions,it sorts out some legal issues existing in the Employee Stock Ownership System in my country.In 2001,the Ministry of Civil Affairs issued a letter to cancel the legal person approval qualifications of the Employee Stock Ownership Association,and the Employee Stock Ownership Association was formally separated from the labor union and ceased to be an organization of the labor union.Under this new situation,the Employee Stock Ownership System urgently needs to be regulated by the law.It is precisely because there is no perfect legal regulation that various ministries and commissions and localities are fighting each other,and each enterprise is even more diverse in actual operation.The method of capital contribution of stock-holding employees basically determines the purpose and mode of operation of the Employee Stock Ownership System,and the chaotic way of capital contribution brings chaotic system operation.The chaotic operation of the system is manifested in the inability to protect the rights and interests of shareholders.The lack of rights and interests of shareholders will inevitably lead to insufficient rights and interests of the holding organization,and no right to speak in the enterprise.So by learning of foreign experience,combined with the practice in our country,putting forward the solution.In addition to the introduction and conclusion,this article is divided into four parts.The first part introduces the general situation of the legal system of employee stock ownership in our country.The employee stock ownership system is a system that allows employees to invest in company equity and share the right to claim the remaining value of the company.The right to claim corporate surplus value as a benefit distribution should be restricted by rules and regulations.Laws must be used to regulate the participants of the system and the main body of the system to ensure the effective implementation of the employee stock ownership system.However,the characteristics of different types of employee stock ownership systems Different,by analyzing the legal relationship behind the system,we can summarize the legal characteristics and functions of different types of employee stock ownership systems.Combining these legal features and comparing with relevant laws and regulations and departmental rules in force in our country,we can experience the development status of the employee stock ownership system under the legal framework of our country.The second part introduces the legal issues and analysis of the employee stock ownership system of my country’s limited liability companies.First,there is a serious lack of high-level legal norms specifically for the employee stock ownership system in my country.The national-level legal norms are only involved in individual articles of the "Company Law".The trial interpretations of the Supreme People’s Court and the Supreme People’s Procuratorate are also lacking.Various ministries and local governments have a little more normative documents,but their effectiveness is low,and the documents are not standardized and forward-looking,so their influence is very limited,and they are far from enough to regulate and promote the entire country’s employee stock ownership system.Second,the imperfection of legal norms and the backwardness of my country’s financial industry have led to phenomena such as the lack of leverage allowed by the government when employees participate in the shareholding system,and the chaotic legal relationship between employees and the holding company.Third,with regard to the selection of shareholding methods,on the one hand,the threshold of the existing proxy holding model is too high,and it is not suitable for small and medium-sized limited liability companies to adopt.On the other hand,due to the lack of suitable stock holding methods,when a limited liability company promotes an employee stock ownership system,the personal rights and interests of stockholders are basically not protected,and it is very easy to cause damage to the rights and interests of employees,irregular shareholding platforms,illegal financing,etc.problem.The third part is to learn from foreign experience.The employee stock ownership system in Japan,the United States,and Germany has been developed earlier and each has its own advantages.As a country with a civil law system,Japan has many aspects of law worthy of our study.The "Japanese Commercial Code" regulates the employee stock ownership system in more detail,and compared with Germany,which is also a civil law system,Japan’s corporate management system And social culture is more similar to that of our country,so our country should learn from Japan in terms of perfecting the legal system.The United States is the birthplace of the employee stock ownership system.It relies on the developed financial system in the United States.The advanced experience of the American employee stock ownership system in terms of funding models and channels is very worth learning.German industry is developed and employees have high loyalty to the company.It is inseparable from the organic combination of employee shareholding organization and German corporate management structure.The German employee shareholding method enables employees to fully exercise their shareholding rights and obtain shareholding rights,which is worth learning from.The last part is the suggestion on the way out of the legal problems of the employee stock ownership system of the limited liability company in our country.The issue of perfecting legal norms can be studied from Japan,and perfected through separate legislation and supplementing existing laws.The problem of employee participation channels can be resolved through institutional innovation,gradually liberalizing the legal restrictions on employees’ contribution to labor,or developing a virtual share model under the existing legal framework.The issue of shareholding methods needs to open up thinking,and earnestly respect the value of human capital on the basis of innovative shareholding organizational forms.Affirm and guide the employee stock ownership system from multiple aspects,and continuously promote the development and improvement of related issues.