Abstract
The employee stock ownership plan is a mechanism in which employees within a company share ownership of the company and participate in the distribution of company profits by holding the company's stock or options. Taking the three-phase employee stock ownership plans of Meinian Health (Meinian Onehealth Healthcare Holdings Co., Ltd.) as an example, this paper analyzes the implementation motives of Meinian Health's three-phase stock ownership plan, and compares the market reaction before and after the implementation and Meinian Health's corporate governance capabilities and operating performance, it is found that when the employee stock ownership plan is launched, the stock price will rise sharply in the short term, but the self-interested opportunity of major shareholders will greatly weaken this effect.
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