An Empirical Study On The Correlation Between Financial Performance And Employee Shareholding In Listed Companies In The IT Industry

Employee Stock Ownership Plan(ESOP)originated in the United States,they believe that employee holdings is an employee through the enterprise Investment and thus have a stake in the enterprise,and ultimately benefit the staff of a plan,employees through the investment of their business from the enterprise employees into equity ownership of the enterprise,which is the basis for the protection of employee benefits.Chinese and foreign scholars have been carrying out a large number of researches,qualitative and quantitative,including from the perspective of human capital,incentive angle,and financial perspective and so on.This paper studies the impact of employee holdings on the enterprises from the correlation between employee stock ownership and financial performance.It studies from the aspects of common employee holding and management holding,and the author based on many related theories and empirical research of predecessors As a result,it is suggested that the proportion of ordinary employees and the proportion of employees in management are positively related to the financial performance of enterprises.This paper chooses the IT industry listed companies as a sample,taking into account the characteristics of the industry,and selected the financial data of listed companies in Shanghai and Shenzhen from 2006 to 2015,the data sources are stable and reliable,and the dummy variables are set up in the variable design Some companies have withdrawn from employee holdings and modeled with panel data,combining time series data and cross-section data.The empirical research method is helpful to grasp the key of this research,which is helpful to provide a new idea and theoretical basis for the quantitative study of employee stock ownership,which is helpful to reveal the nature of employee's shareholding impact on corporate financial performance.This paper first puts forward the background and significance of the topic selection.Secondly,it introduces the development process of employee stock ownership at home and abroad,and then summarizes the current situation of domestic and foreign research,and then defines the concept of employee holding,Based on the theory of employee holdings,such as the two-factor theory,the theory of human capital property rights,the sharing of economic theory,through the analysis of relevant theories,carry out normative research,respectively,the proportion of general staff holdings and management shareholding ratio Enterprise financial performance is related to the hypothesis,and then through the sample data modeling empirical study,through the model estimates and analysis,the results consistent with the original hypothesis.The results show that the implementation of employee holdings can promote the enterprise to improve financial performance,and the management of the ownership of corporate finance is greater than the average employee holdings.This result affirms the implementation of employee holdings of employees,as a means of incentives,to improve the sense of participation of employees,all of the business activities have a positive impact,should encourage more enterprises to implement employee holdings.However,it can be seen from the sample data,some enterprises in the implementation of employee holdings in the process of being forced to stop because of poor management,system chaos,"free rider" phenomenon and other issues,so the implementation of employee holdings in the process,Should also be reasonable planning,and strive to learn from the success of the case,to develop a suitable employee stock ownership system and the proportion of enterprises to achieve the greatest effect on the promotion of performance.In this paper,from the new point of view of the employee holdings of the object of the industry to distinguish the industry characteristics of the study to take into account,to China's IT industry,for example,the use of normative research and empirical research combined approach to employee holdings and corporate finance Performance correlation research,the use of panel data modeling,to overcome the other scholars to conduct empirical research when considering the time series data or cross-section data.