Study On The Incentive Effect Of Employee Shareholding In Company Y In The Context Of Hybrid Reform

State owned enterprises are an indispensable part of China’s public ownership economy.In order to help them develop sustainably and healthily,the Central Committee of the Communist Party of China proposed the "State owned enterprise reform" and clearly pointed out that "implementing employee shareholding is the key,and promoting mixed ownership reform(referred to as mixed ownership reform)in state-owned enterprises".Thus,the implementation of employee shareholding in state-owned enterprises during the mixed ownership reform process has a policy basis.In 2014,the China Securities Regulatory Commission issued pilot opinions on employee stock ownership in enterprises,and many enterprises responded to national policies to promote employee stock ownership.However,practice has shown that the implementation effect of most enterprises has not met expectations,and most scholars are skeptical about whether implementing employee stock ownership will inevitably achieve positive incentive effects.Therefore,it is of great practical significance to explore the impact of implementing employee stock ownership on the incentive effect of enterprises in the context of mixed reform,and to provide experience and inspiration for subsequent enterprises participating in the implementation of employee stock ownership in mixed reform.Based on this,the article takes the case of Y Company implementing employee shareholding under the background of mixed ownership reform as the object,and conducts research on the process,implementation motivation,mechanism,and incentive effect of employee shareholding.Based on the research on the concepts and theories related to the implementation of employee stock ownership in the context of mixed reform,this paper first introduces the specific implementation situation and implementation motivation of the case,and then takes the effect of Y company’s implementation of employee stock ownership as the starting point to study the effects of mixed reform and the impact of enterprise competitiveness;Meanwhile,based on the relevant financial data of Y Company from 2016 to 2021,starting from both horizontal and vertical dimensions,the financial indicator analysis method and EVA analysis method were used to comprehensively evaluate the financial impact of Y Company’s employee shareholding.The impact of employee shareholding on Y Company’s development was analyzed in depth,and corresponding conclusions were drawn.Research has found that employee shareholding not only optimizes the equity structure of a company,improves corporate governance models,but also stimulates employee initiative,thereby improving the financial performance and competitiveness of the company,and creating more wealth value for shareholders.Finally,the article draws the following inspiration from the overall content of employee stock ownership in Company Y: employee stock ownership can accelerate the process of mixed ownership reform in state-owned enterprises,and enterprises should combine relevant policies and formulate reasonable stock ownership plans when implementing employee stock ownership.