国有企业实施员工持股计划的法治思考

发布时间：2018-04-01 10:30

本文选题：混合所有制　切入点：国企改革　出处：《南方金融》2017年01期

【摘要】：混合所有制改革的顶层设计为国有企业实施员工持股计划提供了基础,但员工持股计划在实施过程中仍面临许多法治困惑,主要表现在:现行法律制度对员工持股计划的参与人员范围界定不清、在员工持股比例上规定不统一,员工持股管理机构的机制设计问题悬而未决,员工持股权益的处置方法缺乏统一规范,员工持股的内部监督和外部监管机制有待加强。为推动国有企业员工持股计划有序实施,建议根据企业类别实行差异化管理,限定员工持股的参与人员为企业中层以下员工,依据激励最大化和长期化原则限定员工持股的最高比例和最低持股期限,采用信义关系的规制策略完善持股管理机构的机制设计,健全员工持股的退出机制和监督机制。
[Abstract]:The top-level design of the mixed ownership reform provides the basis for state-owned enterprises to implement the ESOP, but the ESOP still faces a lot of confusion about the rule of law in the process of implementing the ESOP. The main manifestations are as follows: the current legal system does not define the scope of the ESOP participants, the provisions on the ESOP ratio are not uniform, and the design of the ESOP mechanism is still unresolved. In order to promote the orderly implementation of the ESOP plan in state-owned enterprises, it is suggested that differentiated management should be implemented according to the type of enterprise, and the internal supervision and external supervision mechanism of ESOP need to be strengthened. The participants of ESOP are employees below the middle level. According to the principle of incentive maximization and long-term, the maximum proportion and minimum duration of ESOP are defined. The mechanism design of shareholding management organization should be improved by adopting fiduciary relation regulation strategy, and the exit mechanism and supervision mechanism of ESOP should be improved.
【作者单位】：华南理工大学法学院;
【基金】：中央高校业务费项目《证券法修改若干问题研究》(项目编号:2015XZD23)的资助
【分类号】：F272.92;F276.1

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