员工持股计划的性质、功能与应用

The Nature, Function, and Application of Employee Stock Ownership Plans

员工持股计划是欧美等发达市场经济国家普遍流行的一种有效企业制度安排,它在激励企业员工自觉地监督企业经营者行为、参与企业管理从而提高企业的经营效率方面发挥了非常重要的作用。当前,由于我国的社会实践还缺乏一些与之匹配的基础或条件,因而在我国企业改革的员工持股计划推行中出现了很多的问题。本文从中外员工持股计划比较出发,揭示了这些问题及其根源,并指出当前首先应选择一些有潜力的企业进行试点,剖析员工持股计划赖依生存的制度环境及其相关支撑体系,然后结合国情循序渐进地在国企改革中全面推行员工持股计划。

The employee stock ownership plans (ESOP) which can incite employee to monitor employer behavior, take part in business management, and improve economic efficiency of corporate operation are a popular efficient corporate system in developed market economy in West Europe and North America. At present, it is used to analyze statedownenterprises (SOEs) reform in China. And its matching institution environment and related policies of application in China are analyzed in the paper.