新制度背景下苏交科员工持股计划激励性分析

发布时间：2018-01-30 23:42

本文关键词： 员工持股计划苏交科激励效应　出处：《安徽财经大学》2017年硕士论文　论文类型：学位论文

【摘要】：2014年6月,我国证监会发布《关于上市公司实施员工持股计划试点的指导意见》,为我国上市公司实施员工持股计划提供了正式实施规范和制度保障,对促进员工持股计划健康发展具有重大意义。在这一新制度背景下,员工持股计划得到众多公司纷纷响应,实施员工持股计划的热情不断上扬。随着我国员工持股计划的持续发展,对实施员工持股计划的研究势在必行。但由于制度背景和社会环境等因素的影响,员工持股计划在我国起步较晚,发展相对缓慢,因此国内对员工持股计划的相关研究相对缺乏。就目前已有的相关研究文献来看,多数学者更关心员工持股计划制度在中外的发展状况、相关法律问题以及国外员工持股计划发展对我国的借鉴意义等,而对实施员工持股计划后效果的研究相对较少,其相关的案例研究更是缺乏。基于这一情况,本文采用案例研究的方法,选取案例公司苏交科,对其实施的员工持股计划的激励性进行研究,首先分析了苏交科实施员工持股计划的内外部环境背景和实施员工持股计划的目的,其次从方案设计和实施效果两个方面对苏交科实施员工持股计划的激励性进行研究,最后分析了案例公司实施员工持股计划中存在的不足之处,并针对这些不足提出相应建议。本文研究发现:(1)苏交科实施的员工持股计划在完善公司股权结构方面具有积极作用;(2)苏交科员工持股计划的实施得到了积极的市场响应,促进了股价增长;(3)员工持股计划的实施对苏交科公司整体财务绩效具有一定的激励性。本文的研究为上市公司实施员工持股计划提供了案例参考以及经验和数据支持,有助于相关企业在实施员工持股计划时,合理进行方案设计和实施安排,从而更加充分发挥员工持股计划的激励性,同时也丰富了员工持股计划案例研究的文献。
[Abstract]:In June 2014, the CSRC issued the guidance on the implementation of ESOP pilot in listed companies, which provides formal implementation norms and institutional safeguards for the implementation of ESOP in Chinese listed companies. It is of great significance to promote the healthy development of ESOP. Under the background of this new system, ESOP has been responded by many companies. With the continuous development of ESOP in China, it is imperative to study the implementation of ESOP. However, due to the institutional background and social environment and other factors. ESOP started late and developed slowly in our country, so the relative research on ESOP in China is relatively lacking. Most scholars are more concerned about the development of ESOP system at home and abroad, related legal issues and the development of ESOP in foreign countries for reference. But the effect of the implementation of ESOP is relatively few, and the relevant case studies are even less. Based on this situation, this paper uses the method of case study to select the case company Su Jiaotong. In this paper, the incentive of ESOP is studied. Firstly, the internal and external background of ESOP and the purpose of ESOP are analyzed. Secondly, the incentive of the implementation of ESOP is studied from the two aspects of scheme design and implementation effect. Finally, the shortcomings of ESOP implementation in case companies are analyzed. In this paper, we find that the ESOP implemented by SJC plays an active role in perfecting the ownership structure of the company. 2) the implementation of SOJC employee stock ownership plan has got positive market response and promoted the stock price growth; The implementation of ESOP has a certain incentive to the overall financial performance of SOJC. The research in this paper provides a case reference, experience and data support for the implementation of ESOP in listed companies. In order to give full play to the incentive of ESOP, it is helpful for the relevant enterprises to design and implement the ESOP reasonably. At the same time, it also enriches the literature of case study of ESOP.
【学位授予单位】：安徽财经大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F272.92;F279.26

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