HPR公司员工持股计划案例分析

发布时间：2018-06-06 23:36

本文选题：公司价值 + 案例分析　；参考：《哈尔滨商业大学》2017年硕士论文

【摘要】：员工持股计划源起于美国,被证明是一种成功的所有权分布方式。作为一种长期、有效的激励方法,越来越多的企业也开始有意对员工持股计划进行尝试。员工持股计划通过使内部员工拥有公司股份,从而提高其在工作的积极性,提升员工对公司的主人翁意识。近几年,证监会及有关部门颁布了在上市公司中进行员工持股计划试点的相关文件,这使得员工持股计划在我国获得了长足的发展空间。随着员工持股计划在我国的应用范围越来越广,学者们对该计划所产生的影响也越来越关心。国外的研究文献,大多支持员工持股计划能够提升公司价值的观点,部分研究表明,员工持股计划只能短期提升公司经营绩效。然而,由于国内外在制度环境等方面的差异性,我国关于员工持股计划的研究也产生了一些新的结论。综合国内的研究情况来看,对员工持股计划的效果评价褒贬不一,尚未形成一致性结论。为了深入研究员工持股计划对上市公司的影响以及理清其作用机制,本文对HPR员工持股计划为进行案例研究,以期在对案例的深入研究过程中实现对员工持股计划的全方位认知。本文从研究背景角度、实施流程角度、动因角度以及经济后果角度对HPR员工持股计划进行深入分析。为了实现研究的实践性与科学性的统一,本文以员工持股的相关理论为基础,结合国内外已有的研究成果,采用横向对比分析、案例研究等方法对HPR公司员工持股计划进行分析。本文以员工持股计划实施的2014年为界限,对实施前后的财务数据进行对比研究,以期得出员工持股计划对公司多方面的影响效果。本文的研究发现;HPR公司实施员工持股计划不仅改善了治理结构,而且优化了公司的经营情况。指出设计合理的员工持股计划是其正确发挥作用的前提保障,同时建议在我国上市公司以及国有企业中积极开展员工持股计划试点工作。
[Abstract]:ESOP originated in the United States and has proved to be a successful distribution of ownership. As a long-term and effective incentive method, more and more enterprises begin to try the ESOP. ESOP promotes the employee's sense of ownership of the company by making them own shares in the company and enhancing their enthusiasm in the work. In recent years, the CSRC and related departments have issued the relevant documents about the pilot of ESOP in listed companies, which makes the ESOP in our country obtain considerable development space. With the wide application of ESOP in China, scholars are more and more concerned about the impact of ESOP. Most of the researches abroad support the view that ESOP can enhance the value of the company. Some studies show that ESOP can only improve the company's performance in the short term. However, due to the differences in the institutional environment at home and abroad, the research on ESOP in China has also produced some new conclusions. According to the domestic research situation, the effect evaluation of ESOP is mixed, but the consistent conclusion has not been reached. In order to study the impact of ESOP on listed companies and clarify its mechanism, this paper makes a case study of ESOP. The purpose of this paper is to realize the comprehensive cognition of ESOP in the process of case study. From the perspective of research background, implementation process, motivation and economic consequences, this paper makes an in-depth analysis of HPR employee stock ownership plan. In order to realize the unity of practicality and science of the research, this paper, based on the relevant theory of ESOP and combining the existing research results at home and abroad, adopts horizontal comparative analysis. Case study and other methods to analyze the HPR employee stock ownership plan. Taking 2014 as the limit of ESOP implementation, this paper makes a comparative study on the financial data before and after the ESOP implementation, in order to obtain the effect of ESOP on many aspects of the company. In this paper, it is found that the implementation of ESOP not only improves the governance structure, but also optimizes the management situation of HPR Company. It is pointed out that the reasonable design of the ESOP is the precondition to play its role correctly, and it is suggested that the pilot work of ESOP should be carried out actively in the listed companies and state-owned enterprises in China.
【学位授予单位】：哈尔滨商业大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F272.92;F426.72

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