"The Decision of the Central Committee of the Communist Party of China on Several Major Issues Concerning Comprehensively Deepening Reform" requires "active development of a mixed-ownership economy"，Pointed out that “allowing mixed ownership economies to implement enterprise employee stock ownership，Formation of a community of interests of capital owners and workers”。Later，CSRC、The State-owned Assets Supervision and Administration Commission and other departments issued guiding documents for listed companies and state-owned enterprises to carry out employee stock ownership，To participants、Shareholding conditions and equity management are clearly stipulated。can be seen，Different from previous attempts at joint-stock reform of state-owned enterprises，The employee mobile bet365 in the context of mixed ownership reform has been placed in a more important position and given more historical missions，Becomes a new highlight and breakthrough in the period of comprehensively deepening reforms。

What cannot be ignored，Any effective system is based on a certain theoretical basis，If the employee stock ownership plan is to be effective, it cannot do without the guidance of basic concepts。The employee stock ownership systems and practices of the world's major developed countries are precisely because each has its own complete and mature basic concepts as support，Thus forming a clear functional positioning and a complete institutional system。As an "imported product"，The guiding philosophy of my country’s employee mobile bet365 is relatively weak，This is also an important reason why the early functional positioning of the system was unclear。Therefore，Implementing the employee mobile bet365 in the new era，Scientific theoretical exploration is crucial。Only through continuous and in-depth theoretical exploration，Only in this way can we understand clearly what role the employee mobile bet365 plays in the development of the socialist market economy with Chinese characteristics，Only then can we improve the institutional design and policy system at the operational level with reasonable evidence。This article attempts to start from workers、Three levels of enterprise and social development，Analyze the theoretical basis of the employee mobile bet365 and reveal its corresponding functional positioning。

Two-factor theory and human capital theory show，The employee mobile bet365 can promote the all-round development of workers，Deepening democratic management。Dual-factor theory believes that the two basic factors of large-scale social production are capital and labor，The human capital theory further points out that the external form of labor is the human capital of workers。The two-factor theory actually recognizes that labor is a kind of capital，Human capital theory recognizes that workers have the property rights of this kind of labor capital。The combination of the two theories emphasizes the rationality that labor creates value and workers should be paid，And believes that the human capital of workers who create profits should participate in the distribution of surplus value。But with the deepening of industrialization of human society，The factor market shows a development trend of "strong capital and weak labor"。The development of market economy and the advancement of science and technology have made the contribution of capital to output increasingly prominent，The one-sided skills of workers make them gradually lose control of the production process，Get much less income than the capital participation distribution。This is not only detrimental to the all-round development of workers，It also leads to the deterioration of workers’ dominant position in production and management。The introduction of the employee mobile bet365 is a useful practice to achieve the all-round development of workers and protect their ownership status。

Contract theory and principal-agent theory show，The employee mobile bet365 enables enterprises to establish a community of interests for hard work and collaboration，Improve competitiveness。According to contract theory，All enterprises are a union of contracts。Shareholders entrust management with management in the form of a contract，The management entrusts employees to engage in specific business through contracts，This forms an agency chain of “shareholders-management-employees”。Whether this interlocking agency chain can operate smoothly is related to the operational efficiency of the enterprise。Although employees are at the bottom of the agency chain，But whether it works hard and whether it is willing and able to maintain close cooperation with the upper body is the basis for the principal-agent chain to work。But due to human limited rationality、The asymmetry of information and the dynamic changes of objective reality，Any contract is incomplete，This also leads to the risk that the agency chain within the enterprise may be blocked and ineffective due to conflicts of interest between entities。To this，Principal-agent theory proposes an "incentive compatibility" solution。The employee mobile bet365 is a kind of incentive compatibility: after the system is implemented, shareholding employees will have the dual identities of corporate insiders and owners，Thereby strengthening its own efforts and incentives、Supervise the subjective wishes of other subjects，Conducive to building a community of interests for efforts and collaboration。On the one hand，Having employees as shareholders not only effectively alleviates conflicts of interest with major shareholders，It can also play a role in reverse supervision of management，Thus effectively coordinating the interests between the principal and the agent。On the other hand，By giving employees management and voting rights over the enterprise，Able to increase employee satisfaction and loyalty and reduce the risk of brain drain，Help improve corporate performance and governance，In turn, it triggers a positive market reaction from investors。

Sharing economic theory and democratic economic theory indicate，The employee mobile bet365 is conducive to exploring the realization form of socialist public ownership，Achieve common prosperity。Sharing economic theory advocates that social profits should be created together、Shared together，Thus employee compensation should come from both fixed salary and profit sharing，Compare employees’ labor income with the development status of the enterprise、Link the good and bad benefits。Democratic economic theory redefines the relationship between employees and business owners，Believe that it should be citizenship in an economic circle rather than employment relationship，According to this, corporate employees should have the inviolable right to democratic choice and the right to obtain surplus labor。Sharing economic theory and democratic economic theory provide direct theoretical basis for the employee mobile bet365 from the perspective of economic system。Socialist public ownership is the foundation of the socialist economic system，Is an important guarantee for realizing the common prosperity of the people，The form of its realization must be actively explored based on the principle that "all management methods and organizational forms that reflect the laws of socialized mass production can be boldly utilized"。The employee mobile bet365 can promote the mixed ownership reform of state-owned enterprises、Protect workers’ property ownership、Enhance the influence of the public ownership economy by improving the integration of public ownership and market economy，This is important for exploring the implementation form of public ownership、Achieving common prosperity plays a positive role。

(This article is a phased result of the Shandong Province Social Science Planning Research Project "Empirical Research on the Effect of Employee Stock mobile bet365 of Listed Companies from the Perspective of the New Economic Normal" (19CJJJ26)

(Author’s unit: School of Labor Relations, Shandong University of mobile bet365)