Design And Implementation Effect Analysis Of Employee Stock Ownership Plan Of 37 Interactive Entertainment

In June 2014,after the CSRC issued the Guiding Opinions on the Pilot Implementation of Employee Stock Ownership Plan by Listed Companies,it accelerated the promotion of employee stock ownership plan nationwide.Due to the rapid increase in the number of enterprises that implement employee stock ownership plans,problems also follow.The constantly exposed problems affect the enthusiasm of enterprises to implement employee stock ownership plans.In this context,how to formulate an employee stock ownership plan implementation plan consistent with the company’s development and ensure that the implementation effect is consistent with the original intention is still the focus of common concern of the academic and practical circles.This paper starts with the literature review and theoretical basis,elaborates the mechanism of ESOP,and provides theoretical support for the following analysis.Secondly,in connection with the overall industry environment and regulatory policies,explain the implementation background and program content of the three employee stock ownership plan of 37 Interactive Entertainment.Thirdly,it measures the implementation effect of the employee stock ownership plan of 37 Interactive Entertainment Phase III from four aspects: agency cost,innovation ability,market effect and financial effect.Finally,according to the results of the comparative analysis of the above four aspects,summarize and discuss,draw conclusions,and put forward suggestions for reference.This study finds that,due to the fierce competition in the game industry and the stricter policy supervision,encouraging innovation and long-term incentives have become the main motivation for game enterprises to implement ESOP.The implementation of multi period employee stock ownership plan and continuous optimization of employee stock ownership plan design can better create a long-term incentive mechanism,attract and retain more outstanding talents for enterprises,form a good innovation atmosphere,accelerate the transformation of innovation achievements,and bring positive market effects and improve the financial situation of enterprises.Moreover,due to continuous adjustment,the promotion effect of multi period employee stock ownership plan on the company shows a better trend than that of one period.Secondly,when implementing the multi period employee stock ownership plan,the design of the elements of the plan should not be too single,otherwise it is easy to weaken the incentive effect of the employee stock ownership plan.In order to ensure the long-term incentive effect,enterprises need to adjust the unreasonable aspects of the previous scheme design to make the ESOP scheme more consistent with the company’s development strategy.Based on the above research conclusions,this paper puts forward some suggestions: First of all,game enterprises can try multi period employee stock ownership plans.To some extent,multi period employee stock ownership plans will help to better establish a long-term incentive mechanism,improve the enterprise’s R&D innovation ability,bring positive market effects and improve the enterprise’s financial situation,which will be more conducive to the development and long-term operation of high-quality games.Secondly,in order to better achieve the purpose of incentive,enterprises should flexibly deploy the elements of each plan according to the development strategy and adjust the contents of the employee stock ownership plan when implementing the multi period Employee Stock Ownership Plan.