Analysis On The Case Of Employee Ownership Stock Plan In The Mixed Ownership Reform Of State-owned Enterprises

Looking at the course of development of state-owned enterprises,we can see that some central SOEs and local SOEs have continued to grow and develop through reform and opening up.However,many SOEs are facing a series of problems such as incomplete corporate governance structure,lack of competitiveness and innovation,and low operating efficiency.In order to improve the operating conditions and the competitiveness of state-owned corporations,and maintain and increase the value of state-owned assets,the party's Nineteenth Congress once again clearly proposed to deepen the reform of state-owned enterprises,develop a mixed-ownership economy,and cultivate a group of world-class enterprises with global competitiveness.The practice of the employee stock ownership plan is one of the important ways for the successful implementation of the mixed ownership reform of state-owned enterprises,and it is also an important way to deepen the reform of state-owned enterprises.Therefore,it is of great research value to solve the issue of employee shareholding under the mixed ownership reform of stateowned enterprises in China.This article starts from the background of the mixed ownership reform of state-owned enterprises,and based on the research on the related documents of employee stock ownership,determines the method of using case studies,selects China Unicom as an example,and discusses in depth whether state-owned enterprises can bring positive results and promote mixed ownership reforms through employee stock ownership plans..This article first summarizes the status of China Unicom's business development and the background of China Unicom's implementation of employee stock ownership plans.Based on this,it will restore the implementation process of China Unicom's employee stock ownership plan and outline the main contents of its employee shareholding plan.Second,it analyzes the motivations and effects of China Unicom's implementation of employee stock ownership plans.Then,it analyzes the shortcomings of China Unicom's employee shareholding plan and proposes corresponding countermeasures.Finally,it summarizes the results of the case study and summarize the enlightenment of China Unicom's employee shareholding plan for the reform of state-owned enterprises' mixed ownership.The research conclusions of this article are: China Unicom's implementation of employee stock ownership plan can bring a demonstration effect,optimize the corporate governance structure,and in the short term improve the company's stock value and improve the company's operating conditions;China Unicom's employee stock ownership program exists three issues,the overall shareholding ratio is low,the subscription price is low and there are three major problems of pricing risk and single source of funds.It is concluded that China Unicom's employee stock ownership plan has implications for the reform of state-owned enterprises' mixed ownership system.It is suggested that state-owned enterprises should use employee stock ownership plans as breakthroughs,and actively implement mixed ownership reforms.And it is also suggested that the funds for employee stock ownership plans should be diversified,and the implementation of employee stock ownership plans should focus on long-term employee incentives,while also preventing risks caused by low pricing.