E3S Web Conf.
Volume 253, 20212021 International Conference on Environmental and Engineering Management (EEM 2021)
|Number of page(s)||6|
|Section||Environmental Equipment Engineering Management and its Technical Application|
|Published online||06 May 2021|
ESOP and Corporate Sustainable Growth
1 Business School Sichuan University Chengdu, China
2 Business School Sichuan University Chengdu, China
3 Business School Sichuan University Chengdu, China
4 Taiyuan University of Technology Taiyuan, Shanxi
b* Corresponding author e-mail: firstname.lastname@example.org
The Employee Stock Ownership Plan (ESOP) is a long-term corporate welfare policy that allows employees to share the profits and growth benefits of the enterprise by owning the ordinary share of the enterprise. It has always been a research hotspot at home and abroad. Sustainable growth refers to the healthy and sustained growth of enterprises. ESOP has been re-implemented in China since 2014. Using dual fixed effects model, this paper empirically analyzes 6940 observations of Chinese listed companies from 2014 to 2018. We study whether ESOP can improve the sustainable growth rate of enterprises by allowing employees to hold equity, linking their personal interests to the interests of enterprises, and thus playing an incentive and supervisory role to effectively reduce enterprise agency costs. In the research process, we find that the data can help us objectively analyze the economic management problems of enterprises. However, when using the data for analysis, the correlation coefficient and significance should be analyzed together.
© The Authors, published by EDP Sciences, 2021
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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