A Study On The Impact Of Employee Stock Ownership Plans In State-controlled Mixed-ownership Companies On Company Performance

In 2015,the State Council officially issued the Opinions on the Development of Mixed Ownership Economy in State owned Enterprises,and the mixed ownership reform of State owned enterprises was officially launched.It has been eight years since then.With the continuous strengthening of mixed ownership reform,the determination to promote it and the gradual liberalization of policies and measures,the state-owned holding mixed ownership companies have taken the employee stock ownership plan as one of the major measures to comprehensively deepen the reform.This system originally originated from Europe and the United States.Many western studies have pointed out that the implementation of the employee stock ownership plan has indeed improved the company’s operating effect to a certain extent,and also reduced social pressure.The implementation and research of employee stock ownership plan in China is still at the stage of exploration,and the more specific and detailed implementation rules have not yet been formed.The implementation effect of this system needs further study.Under this background,Nation Star,a state-owned holding mixed ownership company,is taken as a case for analysis in this paper.First of all,summarize and comment on the research status at home and abroad,and clarify the reasons for selecting this case;Then it briefly describes the implementation background and program content of Nation Star Company’s implementation of employee stock ownership plan;Secondly,the impact of employee stock ownership plan on company performance is analyzed by introducing industry average and competitive enterprise data,which confirms that employee stock ownership plan effectively improves the performance of Nation Star.The results show that(1)all financial indicators have been strengthened;(2)Innovation ability and employee enthusiasm have been improved;(3)Reasonably expanding the scope of participants and extending the lock up period of shareholding can effectively increase the impact.This paper conducts research and analysis on the employee stock ownership plan implemented by Nation Star,compares it with the data of industry leaders and competitive enterprises,obtains the influence path of the plan,and puts forward reasonable suggestions for the implementation of employee stock ownership plan in state-owned holding mixed ownership companies,hoping to enrich the relevant theoretical basis and promote the highquality development of China’s economy.