Improve the effects of employees of listed companies
August 26, 2020 09:29 Source: "China Social Sciences", August 26, 2020, 1997th Author: Liu Chinese Zhu Xue Shuang

The employee holding plan mainly refers to the company's employees who owns the company's shares to owns the company's governance and profit distribution right。2014,The China Securities Regulatory Commission released the "Guiding Opinions on the Pilot on the Implementation of the Employee Stock Plan for Listed Companies",2015,Central Committee of the Communist Party of China、The State Council issued the "Guiding Opinions on Deepening the Reform of State -owned Enterprises",Put forward the implementation of the employee holding plan,The employee shareholding plan is promoted and implemented。but,The employee shareholding plan still has certain problems during the implementation process,For example: when to launch the employee shareholding plan is more conducive to its effect,How to determine the appropriate scale of the employee shareholding plan,Which company is more suitable for launching employee shareholding plans and what external environment is required for the launch of the employee holding plan,These are problems that need to be solved as soon as possible。This bet365 Play online games article is based on the market effect of the employees of listed companies、Empirical research on company performance and governance performance,The following countermeasures for deepening employees' shareholding effect。

First, choose the right time to launch the employee holding plan。The empirical analysis results of the market effect of the employee holding plan and the development of the securities market are combined with the development of the securities market,There are two suitable timing of launching the employee shareholding plan。The first is in the stock market downturn,At this time, the launch of the employee shareholding plan can inhibit the decline in the stock price to a certain extent,It is conducive to stabilizing the stock price。The second is the consolidation period of the stock market,Compared to the stock price of a listed company that has not been launched by the employee holding plan,At this time, the launch of the employee shareholding plan can promote the stock price,To better use the market effect of employees' holdings。

Second, give full play to the role of employees of small and medium -sized enterprises such as private enterprises。Discovered from the empirical research of the employee's stock Bet365 app download market effect,The implementation of the implementation of the employee's shareholding plan is not obvious in the state -owned controlling enterprise,The role of the development of private enterprises is more obvious。Theoretically speaking,The scale of the state -owned enterprise is large,And employees share the shareholding of the shareholding of the employee's shareholding,The market effect is not obvious。See the results of the empirical research on the performance of the employee holding company,The company's growth ability has a positive effect on the performance of the company's company,That is, companies with fast growth capabilities are more obvious than companies with slower growth capabilities.。So,Employee holding plan is more suitable for private enterprises、Small and medium -sized enterprises such as high -tech enterprises launched。

Third is to increase the scale of employees' holdings。The implementation of the employee holding plan is positive for the company's development,Including short -term stock price changes、Company performance and improvement of governance performance。From the overall level,,The implementation process of employees holding shares is not complicated,can help the company enhance the cohesion、Maintain competitiveness in order bet365 live casino games to achieve attracting high -level talents、The purpose of motivating employees to work hard。The higher the shareholding ratio of employees,The greater the positive incentive effect produced by it,Make employees' interests be consistent with the interests of the company。But the total number of shares held by employees generally does not exceed 10%,Personal shareholding does not exceed 1%,Compared to the company's share capital, there are still relatively few,No effective incentive effect,Therefore, the scale of employees should be increased,It is recommended to set the upper limit of the total shareholding of employees to 30%,Personal is suitable for 1%-3%。

Fourth is to extend employees' shareholding period。Employee holding plan as an important system for equity incentive,Its incentive effect has long -term characteristics,When promoting this system, you need to consider effectively combining the personal interests of the employee with the long -term interests of the company。State -owned enterprises implement the market effect of employees holding shares are not significant,It is mainly due to the short duration of some listed companies 'implementation of employees' holdings,At present, Bet365 app download the duration of employees holding shares is generally 1-3 years。To avoid short -term cashing behavior of employees' holdings,Improve employee loyalty,Establishing a long -term incentive mechanism for employee shares,It is recommended to extend the duration of employees' shares to 5-6 years,to motivate employees to better associate personal interests with the long -term development of the company,The market effect of realizing employees' holdings、Increases of company performance and governance performance。

Five is to establish an employee shareholding performance assessment mechanism。The current implementation of the employee shareholding plan does not have a corresponding performance assessment mechanism,This is easy to have vulnerabilities,That is, even if employees do not work hard at work,But due to the lack of corresponding performance assessment mechanisms,You can also get the corresponding income,The phenomenon of "big pot rice" is easy to occur。To avoid this phenomenon as much as possible,Further improving the efficiency of employees' shareholding,You can learn from the performance assessment mechanism of equity incentive,For example, the performance assessment target line of the employee holding plan、Set the company'bet365 live casino games s phased performance assessment goals, etc.,Effectively combine the personal interests of employees with the company's interests。

Six is ​​to formulate preferential tax policies for employees' shares。The government should take a reduction in tax rate、Tax preferential policies such as pre -tax deduction to support employees' shareholding plan,Provide motivation for the company's promoting employee holding plan,To a certain extent, improve employee holding effect。

(This article is the Research Research on Empirical Emphasized Emphasized Employment Empathetic Effective Economic Perspective of the Social Science Planning Research Project of Shandong Province "(19CJJJ26) phased results)

(Author Unit: School of Economics, Shandong Women's College; School of Mathematics and System Sciences, Shandong University of Science and Technology)

Editor in charge: Cui Cen
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