混合所有制中的员工持股探索

The Exploration of Employee Stock Ownership in Mixed-ownership Economy

国有企业改革的目标是在股份多元化的基础上建立独立的法人治理结构,通过混合所有制的发展进一步优化资源整合,提高资源配置效率,增强企业的活力与实力。其中,员工持股作为混合所有制的一种体现形式,也是国有企业股权激励制度改革的方向。首先,在理论层面上,物质财富是由资本投入者和劳动力投入者共同创造的,创造出来的物质财富应该由二者共同分享。其次,通过股权激励,让企业管理和技术骨干以主人翁精神和使命感,主动将自我的职业发展、收入增加与企业效益和长远发展联系起来。另外,混合所有制中,管理人员和技术骨干持股,有利于股权结构优化,避免国有资本一股独大,可以在国有资本、民营资本及员工持股之间形成相互的利益制衡。

The goal of reform in state-owned enterprise is to establish the independent corporate governance of enterprise base on the stock diversification,further optimize resources distribution by the development of mixed-ownership economy, improve the efficiency of resources allocation,and enhance the vitality and strength of enterprises. The employee stock ownership is also a form of mixed ownership and the direction of reform in state-owned enterprises. In theory,material wealth is created by capital input and labor input,so the material wealth created should be shared by capital input and labor input. Second,the incentive of stock option can give the managers and technical backbones the feeling of being the master of the enterprises and the sense of mission and encourage them to initially connect their own occupation development and income increase with the effectiveness and long-term development of enterprises. In addition,with the mixed ownership,employee stock ownership can optimize the structure of ownership,avoid the state-owned capital to be the single big holder,and form a balanced interests situation among state-owned capital,private capital and employee stock ownership.