Research On The Implementation Effect And Scheme Optimization Of Employee Stock Ownership Plan In C High-tech Enterprise

At present,with the rapid development of economy and information technology,innovation has become the backbone force to promote the high-quality development of national economy.If enterprises want to gain advantages in industry competition,they must go out of their own way of innovation.However,enterprise innovation is not an easy thing.It also requires full cooperation from the management to the general staff,and the allocation of part of internal shares to the employees through the employee stock ownership plan,so as to connect the interests of the employees and the company,improve the management efficiency,encourage the enthusiasm of the employees,and then drive the innovation and development of the enterprise.The Securities and Exchange Commission issued the "Guidance Opinions on Pilot Implementation of ESOP in Listed Companies" in2014,prompting ESOP to be popular among listed companies.However,ESOP started relatively late in our country,and there are still many problems in the process of implementation,and no unified conclusions have been formed on the incentive effect.Therefore,it is of great theoretical and practical significance to study the implementation effect and scheme optimization of employee stock ownership plan.The research content of this thesis is based on the implementation effect and plan optimization of the four period of employee stock ownership plans of C high-tech enterprise,taking human capital theory and principal-agent theory as the theoretical basis,to comb through the four period of employee stock ownership plans of C enterprise in detail,analyze the main implementation motivation of the employee stock ownership plan,and evaluate the implementation effect of the employee stock ownership plan from the motivation.The analysis shows that: first,investors have different reactions to the launch of the ESOP in C company at different periods,and the implementation of the ESOP does not necessarily enhance investor confidence.Second,the implementation of the ESOP in C company has not formed a long-term mechanism of action in terms of financial performance and has not enhanced the core competitiveness of the company.Thirdly,the management structure of enterprise C is stable.The implementation of the employee stock ownership plan has attracted excellent talents with high degrees and enhanced the internal R&D and innovation capability of the enterprise,but it fails to fully mobilize the work enthusiasm of employees,and the innovation efficiency of the enterprise needs to be improved.In general,the implementation effect of the four period of employee stock ownership plans of C enterprise is not good.The fundamental reason lies in the unreasonable design and implementation of the employee stock ownership plan of C company.Therefore,focusing on the existing problems of the employee stock ownership plan of C company,future optimization suggestions are proposed,including: Appropriately expand employee coverage,extend the lockup period and duration,increase the unlocking conditions of performance assessment and strengthen the disclosure of the employee stock ownership plan,hoping to be beneficial to C company’s continuous improvement of the employee stock ownership plan,and provide a reference for other enterprises to successfully carry out the employee stock ownership plan.Help other enterprises to develop more scientific and reasonable employee stock ownership plans.