员工持股交易制度问题探讨

Exploration on Equity Trading Mechanism of Employee Stock Ownership

本文通过对我国员工持股股权交易制度的现状研究发现,因实践经验不足、法规政策和企业文化限制等因素,导致员工持股制度下的持股员工股权交易制度存在一系列问题。相应的对策建议包括:设定优化股权结构的股权交易目标,节约股权交易成本与提升股权交易效能等。本文并创新性地提出将股权交易的流程安排嵌入股权交易规则中,明确交易主体、表现交易主体之间的关系、规定交易的步骤、说明交易的效力。

In this study, the equity trading mechanism under China employee stock ownership is analyzed, and the state of art on this mode as well as its issues are described, then some reasons with respect to the issues are discussed followed by a number of suggestions to improve the trading mechanism and rules within Chinese stock ownership system. Conclusions include setting the goal on optimizing the equity structure, reducing the equity trading cost and promoting its trading efficiency. Here we also develop a method to update the trading rules by merging the trading schedule into it, along with the developed method trading subjects and relationship among them are cleared, meanwhile trading procedure shall be standardized, and the trading efficiency could be improved.