员工持股计划动因及实施效果研究—以华为公司为例

员工持股计划动因及实施效果研究—以华为公司为例(论文12000字)
摘要
20世纪50年代，员工持股计划最先在美国产生，它是一种新型的、将员工利益与公司利益进行绑定的制度。近年来随着我国社会主义市场经济的飞速发展和改革开放的进行，市场也对员工激励制度存在更加多样化的需求。2014年证监会发布《关于上市公司实施员工持股计划试点的指导意见》，该指导意见的发布标志我国的员工持股计划正式迈入规范化、制度化这一阶段。
虽然员工持股计划在我国的推行力度不断加大，但研究证明部分公司实施该计划的效果并不理想。因此如何能发挥出员工持股计划的独特优势，对员工进行更有效的激励，使公司和员工共同受益，是一个亟待解决的问题。员工持股计划的实施，既要总结之前员工持股计划实施的经验，又要借鉴国外成功的案例，才能达到良好的实施效果，更大程度上将员工持股计划的优势发挥出来。
华为公司作为国内通信技术龙头企业，是我国较早实行员工持股计划的非上市民营高科技公司，其员工持股计划的成功运用具有典型的代表意义。本文采取案例研究的方法，选取华为公司作为研究对象，基于员工持股计划的相关理论，通过介绍华为员工持股计划的整个演变过程，对华为公司该计划的实施动因及主要特征进行总结，同时对其实施效果从多方面进行分析，并得到相关结论和启示。有利于丰富我国对于员工持股计划的理论研究，助力于员工持股计划在我国的进一步实施推广。
关键词：员工持股计划  华为公司  动因  实施效果

Study on the Motivation and Implementation Effect of Employee Stock Ownership Plan -- A Case Study of Huawei Company
Wang Shu
（College of Economics and Management, South China Agricultural University, Guangzhou 510642, China）
Abstract
In the 1950s, ESOP(Employee Stock Ownership Plan) was born in the United States as a new system that binds the interests of employees and the interests of the company.In recent years, with the rapid development of China's socialist market economy and the reform and opening up, the market also has more diversified demands for employee incentive system.In 2014, China Securities Regulatory Commission (CSRC) issued the Guiding Opinions on the Pilot Implementation of the Employee Stock Ownership Plan by Listed Companies, marking that China's employee stock ownership plan has officially entered the stage of standardization and institutionalization.
Although the implementation of ESOP in our country is increasing, but the research shows that some companies are not ideal effect of implementing ESOP.Therefore, how to give full play to the unique advantages of ESOP, motivate employees more effectively and benefit both the company and employees is an urgent problem to be solved.The implementation of ESOP should not only summarize the previous implementation experience of ESOP, but also draw lessons from foreign successful cases, so as to achieve good implementation effect and give play to the advantages of ESOP to a greater extent.
As a leading enterprise of domestic communication technology, Huawei is one of the earliest non-listed private high-tech companies to implement the employee stock ownership plan in China. Its successful application of ESOP is of typical representative significance, and the successful experience of Huawei is worthy of learning from other enterprises in China.The article adopts the method of case study, selected case Huawei company as the research object, based on the related theory of employee stock ownership plan, the comprehensive elaborated the Huawei employee stock ownership plan the whole evolution process, for the implementation of employee stock ownership plan agent and summarizes the main characteristics, analyzed its effect and some problems exposed in the process of implementation, put forward the proposal,And get the related enlightenment, thus to enrich our country for the study of the theory of the employee stock ownership plan, help employee stock ownership plan in the further promotion of our country.
Key words: Employee stock ownership planHuaweiMotivationOperating effect
 
目    录
1前言......................................................................1
1.1研究背景与研究意义......................................................1
1.1.1研究背景..............................................................1
1.1.2研究意义..............................................................1
1.2国内外文献综述..........................................................2
1.2.1员工持股计划动因......................................................2
1.2.2员工持股计划实施效果 .................................................2
1.2.3文献评述..............................................................3
1.3研究方法................................................................3
1.3.1文献研究法............................................................3
1.3.2案例研究法............................................................4
1.3.3财务指标分析法........................................................4
1.4创新点及不足之处........................................................4
1.4.1创新之处..............................................................4
1.4.2不足之处..............................................................4
2相关概念与理论基础........................................................4
2.1员工持股计划基本概念....................................................4
2.2员工持股计划相关理论基础................................................5
2.2.1委托代理理论..........................................................5
2.2.2双因素理论............................................................5
2.2.3人力资本理论..........................................................5
3华为公司员工持股计划案例介绍..............................................6
3.1华为公司简介............................................................6
3.2华为公司员工持股计划的演变过程..........................................6
3.2.1实股配股制............................................................6
3.2.2虚拟受限股............................................................6
3.2.3饱和配股制............................................................7
3.2.4时间单位计划..........................................................7
4华为员工持股计划实施动因分析..............................................7
4.1吸引留住优秀人才........................................................7
4.2解决公司发展资金问题....................................................8
4.3改善提高公司业绩........................................................8
5华为员工持股计划实施效果分析..............................................8
5.1吸引激励优秀人才情况....................................................8
5.2改善公司财务绩效情况...................................................10
5.2.1盈利能力分析.........................................................10
5.2.2营运能力分析.........................................................11
5.3改善公司非财务绩效情况.................................................12
6结论与讨论...............................................................13
6.1结论...................................................................13
6.2进一步讨论.............................................................14
参考文献..................................................................15
致谢......................................................................16