Research On The Implementation Of Employee Stock Ownership Plan In Karamay HX Company

The role of talent in the enterprise is particularly important in the current era,and retaining talent is also an urgent need for the company.Employee stock ownership as a unique form of private placement,taking into account equity incentives and talent incentives,has been recognized by many companies.Compared to the classic equity incentives that include stock options,restricted stocks,and hybrid stocks,employee stock ownership plans make up for the limitat ions of employee incentives.Employee stock ownership is one of the first means for companies to raise funds.Its pricing method is flexible,low-cost,and easy to operate.Employees hold stocks mainly for internal employees.Over the past few years,some companies in our country have adopted a number of alternatives to achieve the purpose of equity incentives to achieve the expansion of the incentive target,the company employees to subscribe for the company's privately issued employee stocks,and then to achieve the same or nearly the same as the classic equity incentives effect.Before 2014,HX's operating status was not ideal.At the same time,there were many internal employees leaving the company.Based on this,the company released employee stock ownership plan on September 23,2014.In the background,HX's employee stock ownership plan provided an opportunity.Therefore,this article starts with the implem entation effect and existing problems after the Karamay HX employee stock ownership plan.Based on the relevant theories and liter atures of the employee stock ownership plan,we mainly adopt the case analysis method and interview method to study the HX.The company's employee stock ownership plan implementation background,implementation results and existing problems were studied.This study found that before the non-public issuance of shares,HX Corporation had poor financial status,lack of liquidity and high financial risks.Subsequently,the implementat ion of the employee stock ownership plan of HX Company,the company's operating ability,debt repayment ability,profitability,and development ability have been improved to some extent,and the company's EVA performance evaluat ion has also been greatly improved.However,through interviews,although employees and managers in the company's interviews to some extent recognized the company's shareholding plan after the implementat ion of the company's improvement and promotion of the role,but on the basis of further research found that the company's employee stock ownership plan design There are deficiencies in China,such as the unregulated organizat ion of management staff shares;unfair allocation of shares;employees holding shares cannot fully participate in the managem ent of the company.This is also the company did not give full play to the potential of employees and managers to maximize the company after the company implemented the shareholding plan.The reason for the value.For this reason,this article further proposes some countermeasures and suggestions on how to further improve the company's shareholding plan from the company level and the regulatory level.