"Decision of the Central Committee of the Communist Party of China on Several major issues of comprehensive deepening reforms" requires "actively developing a mixed ownership economy"，Point out "Allow the mixed ownership economy to implement corporate employees holding shares，Form the community of interests of capital owners and workers "。Subsequent，Securities Regulatory Commission、SASAC and other departments have released guiding documents for listed companies and state -owned enterprises to carry out employees' holdings，Playing participants、Stocks and equity management have clearly stipulated。can be seen，Different from the trial means in the reconstruction of the state -owned enterprise's joint -stock system，The employee holding system in the background of the mixed ownership reform is placed in a more important position and given more historical mission，Become a new highlight and breakthrough in the period of comprehensive deepening reform。

What cannot be ignored is，Any effective system is based on a certain theoretical basis，Employee holding plans to achieve practical results are inseparable from the guidance of basic concepts。Employee Bet365 lotto review holding system and practice of the world's main developed countries are supporting the basic concepts of their own complete and mature basic concepts，This has formed a clear functional positioning and a complete institutional system。As a "exotic product"，The guidance concept of our employee shareholding system is relatively weak，This is also an important reason that leads to inadequate positioning of the system。So，Implementation of employee shareholding system for the new period，Scientific theoretical exploration is important。Only after continuous and in -depth theoretical exploration，What role of the employee's shareholding system can play in the development of the socialist market economy with Chinese characteristics，Then we can improve the system design and policy system at the operating level。This article attempts to from the worker、Three levels of enterprise and social development，Analyze the theoretical base point of the employee's shareholding system and reveal its corresponding functional positioning。

Double -factor theory and human capital theory indicates，The employee holding system can promote the comprehensive development of workers，Deepen democratic management。The theory of dual factors believes that the two basic factors of social production are capital and labor，Human Capital Theory further points out the external form of labor, that is, the labor capital of bet365 Play online games the worker。Dual factors theory actually recognizes that labor force is a kind of capital，Human Capital theory recognizes the property rights of the workers who have this labor capital。The combination of the two theories emphasizes the reasonableness of labor creation value and the reasonableness of the workers should obtain compensation，And that the labor capital of workers who created profits should participate in the allocation of surplus value。But with the deepening of the degree of industrialization of human society，The factor market presents the development trend of "strong labor and weakness"。The development of the market economy and the advancement of science and technology make the contribution of capital to the output increasingly prominent，The one -sided skill of the worker has gradually lost its control of the production process，Get an income that is much less distributed than capital。This is not only not conducive to the comprehensive development of workers，Also leading to the position of workers in the main position of the production and operation。The introduction of the employee's shareholding system is the useful practice to achieve the comprehensive development of the workers and ensure the status of the owner's owner。

Contract theory and entrusted agency theory indicate，Employee holding system can enable enterprises to establish a community of interests of efforts and collaboration，Improve competitiveness。According bet365 best casino games to the contract theory，All companies are a set of contracts。Shareholders entrust management in the form of contracts to manage management，Management also commissioned employees to engage in specific business，From this forming the entrusted agent chain of "shareholders -management -employee"。Whether this interlocking agent chain can operate smoothly is related to the operating efficiency of the enterprise。Although employees are at the bottom of the agent chain，But whether it is working hard and whether it is willing to and be able to work closely with the upper part is the basis for the entrusted agent chain。But due to the limited reason of human beings、The asymmetry of the information and the dynamic change of objective reality，Any contract is incomplete，This also causes the internal entrusted agent chain of the enterprise to be risked and invalidally invalidated by the conflict between the subjects。For this，The theory of entrusted agent proposed a solution for "incentives and compatibility"。The employee holding system is a kind of incentive compatibility: after the implementation of the system, the employees of the shareholding have the dual identity of the insiders and owners of the enterprise，This has strengthened its own efforts and incentives、Supervise the subjective will of other subjects，Community that helps build efforts and collaboration。On the bet365 Play online games one hand，Employees have shareholders status not only effectively alleviating the conflict with the major shareholders，It can also play a role in reverse supervision on management，Therefore, the interests between the entrusting agent subject。On the other hand，By giving employees to the management rights and voting rights of the enterprise，Can increase the satisfaction and loyalty of employees and reduce the risk of talent loss，helps improve the level of business performance and governance，Then cause investors' positive market reactions。

Share economic theory and democratic economic theory show，The employee holding system is conducive to exploring the implementation form of socialist public ownership，Realize common prosperity。Sharing economic theory advocates social profits should be created together、Share together，From this employee remuneration, from two aspects of fixed salary and profit sharing，Put the employee's labor income and the development status of the enterprise、Related benefits。Democratic economic theory re -defines the relationship between employees and business owners，It is believed that it should be a citizenship under the economic circle rather than the employment relationship，According to this corporate employee should have a sacred and inviolable democratic choice right and the right to obtain the remaining bet365 live casino games labor。Sharing economic theory and democratic economic theory provides a direct theoretical basis for the employee holding system from the perspective of the economic system。Socialist public ownership is the basis of the socialist economic system，It is an important guarantee for the common prosperity of the people，Activities should be actively explored based on the principle of "all the business methods and organizational forms that reflect the laws of social production"。The employee holding system can reform by promoting the mixed ownership of state -owned enterprises、Guarantee the property ownership of the workers、Increase the integration of public ownership and market economy to enhance the influence of the public ownership economy，This is the implementation of public ownership、Realizing common prosperity has a positive effect。

(This article is the Research on Employee Holding Effective Effective Effective Economic Perspective of the Social Science Planning Research Project of Shandong Province "(19CJJJ26) phased achievement)

(Author Unit: College of Labor Relations Relationships in Shandong School of Management)