Abstract
Employee stock ownership is one of the common medium and long-term incentive methods for state-controlled mixed ownership. As the current state-controlled mixed-ownership enterprise employee shareholding is still in the pilot stage, the State-owned Assets Supervision and Administration Commission of the State Council is still relatively strict on the implementation of relevant conditions for enterprises. Based on the analysis and research on the relevant policies and corporate practices of employee stock ownership, this paper puts forward the implementation path of state-controlled mixed ownership enterprises to carry out employee stock ownership, and gives reminders and early warnings of common risks in the implementation process.
Highlights
The relevant policies on employee stock ownership in state-controlled mixed-ownership enterprises were issued much earlier than the relevant policies on equity incentives for state-controlled listed companies and equity and dividend incentives for state-owned technology enterprises
As early as the 1990s, employee stock ownership was used as a means of directional stock raising by a limited company, and its legal status was determined
In the process of evolution, the policies related to employee shareholding in state-controlled mixed-ownership enterprises have undergone several relatively large adjustments
Summary
The relevant policies on employee stock ownership in state-controlled mixed-ownership enterprises were issued much earlier than the relevant policies on equity incentives for state-controlled listed companies and equity and dividend incentives for state-owned technology enterprises. In the process of evolution, the policies related to employee shareholding in state-controlled mixed-ownership enterprises have undergone several relatively large adjustments. The operation of employee shareholding is divided into 5 steps, “determining the introduction method, determining the target, determining the quantity, determining the mechanism, and determining the exit”. Compared with other medium and long-term incentive methods of state-owned enterprises, the design path steps of the employee stock ownership plan are relatively few. Due to strict policy conditions and lack of implementation experience, state-controlled mixedownership enterprises face certain obstacles in implementing employee stockholders. In addition to meeting the strict conditions of the policy, the implementation of employee holdings requires a comprehensive design plan that combines the company's own situation and development prospects. In addition to meeting the strict conditions of the policy, the implementation of employee holdings requires a comprehensive design plan that combines the company's own situation and development prospects. [1]
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