Research On Enterprise Employee Stock Ownership Plan Based On Stakeholder Theory

Employee stock ownership schemes(ESOP),which originated in the us and were proposed by Kelsey Louis,play an important role in corporate governance.The employee stock ownership plan enhances the sense of belonging of employees and improves their work enthusiasm by binding their personal interests and the company's interests.After years of development,companies around the world are also trying.The introduction of employee stock ownership plan(ESOP)in China since the 1980 s has experienced a tortuous course from encouragement to attack,but under the promotion of the current market environment,ESOP has revived its vitality.In recent years,the CSRC and relevant departments have issued a series of relevant policies,so that the implementation of the employee stock ownership plan has clear legal norms,but also more in line with the characteristics of Chinese enterprises.Combined with relevant studies at home and abroad,it is found that there is no consistent conclusion among scholars on the definition of the concept of ESOP,and the implementation effect of ESOP is also different.Compared with the mature studies of foreign scholars,domestic research results are relatively few,especially the lack of individual case studies,few studies on specific industries,and the relevant case studies are mainly based on the analysis of financial and non-financial indicators.In order to specifically and comprehensively study the implementation effect of the employee stock ownership plan in enterprises,this paper will conduct a case study on the employee stock ownership plan of mu yuan stock,in order to draw an objective and reliable research conclusion,and provide certain reference and reference for the enterprises in the animal husbandry industry where the company is.Based on the theory of stakeholders,this paper USES relevant research methods to analyze the specific plan and incentive effect of implementing the employee stock ownership plan in Mu yuan Foods Co.,Ltd stock,and analyzes the implementation effect of the employee stock ownership plan in Mu yuan Foods Co.,Ltd stock by combining the vertical comparison within the company with the horizontal comparison in the industry.Firstly,based on the literature review at home and abroad,this paper classifies the specific stakeholders of the employee stock ownership plan(ESOP)under stakeholder management,sorts out its influence mechanism and constructs the relevant theoretical framework.Secondly,the paper analyzes the implementation background,program details,implementation situation and reasons of the draft of phase iii employee stock ownershipplan implemented by mu yuan stock.Finally,according to the analysis of various stakeholders and enterprise performance,the annual report data disclosed by the company from 2014 to 2018 are selected for the comparative study of relevant indicators.The results show that the employee stock ownership plan implemented by Mu yuan Foods Co.,Ltd is successful.Firstly,it optimizes the employee structure in terms of employees,improves the work efficiency and cost control ability,and improves the personal benefits of employees.Second,in terms of shareholders,part of the equity is diluted and the equity structure of the company is improved.Third,in the capital market,enhanced investor confidence;Fourth,in the aspect of social government,it has solved some social problems and improved its ability to create value for the society and the country.In the enterprise aspect,promoted the enterprise comprehensive performance.Finally,reasonable Suggestions are put forward on the implementation of ESOP in terms of company and policy.