员工持股与企业成长速度——基于中小企业上市公司的实证分析

Employee Stock Ownership and Growth Rate——Based on the Empirical Analysis of Small and Medium-sized Listed Companies

基于中国上市公司和证券市场的运营现状和实际情况,以中国中小企业为研究对象,研究中国上市公司员工持股与公司成长速度之间的关系。通过研究发现,中小企业上市公司员工持股与公司成长速度之间呈显著正相关关系,即提高企业员工的持股比例有利于加快公司发展。研究结果为现代公司解决委托代理问题,推动企业快速成长提供一个理论基础。

Based on the present situation of listed companies and stock market in our country,this paper researches the relationship between the employee stock ownership of listed companies and the growth rates of these companies by a study of SMEs in China.According to the research,it is a significant positive correlation between the employee stock ownership of small and medium-sized listed companies and the growth rates of these companies.That is to say that increasing the shareholding ratio of employees can help accelerate development of the company.The result provides a theoretical bases of solving the principal-agent problems for the the modern enterprise and promoting the rapid growth of enterprise.