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本文分析了2014年7月至2016年3月上市公司公布的员工持股计划实施方案,研究了这些公司的持股计划、公司特征及持股计划特征。研究结果显示创业板及中小板的民营中小规模企业对证监会2014年7月推出的员工持股计划试点指导意见反应最为积极,主要利用员工薪酬及自筹资金,通过竞价转让和认购非公开发行方式获得公司股票的所有权,其中大部分上市公司通过委托第三方资产管理机构对员工持股计划进行管理。
This article analyzes the implementation plan of employee stock ownership plan announced by listed companies from July 2014 to March 2016, and studies the stock ownership plan, company characteristics and stock ownership plan of these companies. The results show that the GEM and SME small and medium-sized private-owned small and medium enterprises on the SFC in July 2014 launched the pilot scheme of employee stock ownership plan to respond most actively, the main use of staff salaries and self-financing, through bidding and subscription non-public offering Ownership of the company’s shares is obtained by way of majority management. Most of the listed companies manage the employee stock ownership plan by entrusting third-party asset management agencies.