Research on Heterogeneity and Employee Stock Ownership Plan of Listed Companies

DOI

10.2991/jahp-18.2018.74How to use a DOI?

Keywords

employee stock ownership; implementation motivation; senior executive welfare

Abstract

This paper takes the Shanghai and Shenzhen A-share listed companies as samples to study the influence of corporate heterogeneity on the implementation of employee stock ownership plan in listed companies from three aspects: incentive motivation, corporate governance and senior executive welfare. The results show that encouraging employees’ enthusiasm and improving corporate governance are the main motivations for listed companies to implement employee stock ownership plan. In particular, private enterprises, high-tech enterprises, larger enterprises, as well enterprises with a small number of independent directors and board of supervisors are more inclined to implement employee ownership. In addition, the listed companies that have experienced previous stock incentive failure are more motivated to implement employee stock ownership.

Copyright

© 2018, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Boren Tan
PY  - 2018/08
DA  - 2018/08
TI  - Research on Heterogeneity and Employee Stock Ownership Plan of Listed Companies
BT  - Proceedings of the 3rd International Conference on Judicial, Administrative and Humanitarian Problems of State Structures and Economic Subjects (JAHP 2018)
PB  - Atlantis Press
SP  - 368
EP  - 374
SN  - 2352-5398
UR  - https://doi.org/10.2991/jahp-18.2018.74
DO  - 10.2991/jahp-18.2018.74
ID  - Tan2018/08
ER  -