| Employee stock ownership plan is widely used by listed companies because it allows shareholding employees to participate in the distribution of company interests and to participate in the decision-making of the company by holding shares,so as to motivate employees.However,in recent years,the stock ownership plan frequently appeared losses,and the reasons behind it are worth pondering.This paper USES literature analysis,event study method,contrast analysis on the case study,focuses on analyzing the implementation of employee stock ownership plan after the quality of profitability,profitability and solvency,debt and other financial performance and market performance,company staff movement,such as non-financial performance,found that the plan did not achieve positive results.After exploring the reasons behind it,it is found that there is a very complex motivation behind the implementation of the plan,and the design of the ESOP under the complex motivation also has defects,and the corresponding responsibility for the absence of supervision has not been implemented.Therefore,this paper suggests that Jinke correct the motivation of implementing the ESOP,scientifically design the ESOP plan and give full play to its supervisory role.This case study enriched the research on ESOP and revealed the possible reasons why ESOP sometimes failed to achieve the expected incentive effect: the non-incentive implementation motivation behind listed companies affected the positive incentive effect of ESOP.It also provides experience and suggestions for other listed companies,which to some extent complements the relevant research on the implementation motivation of ESOP and the impact of ESOP scheme design on the implementation effect. |
