苏宁易购实施员工持股计划的案例研究

A Case Study on the Implementation of Employee Stock Ownership Plan by Suning E-Shop

摘要: 本文以苏宁易购作为案例，分析了其实施员工持股计划的动机，以及实施此计划后的经济后果。研究发现，苏宁易购出于国家政策扶持、缓解自身经营压力和吸引人才的动机开始实行此计划。推出员工持股计划后，在财务层面上，苏宁易购的短期盈利能力有所提高，同时，流动资产的周转速度加快，短期偿债能力有一定程度提高，但对于长期偿债能力影响不明显。在非财务层面上，提高了顾客满意度，吸收了更多的高学历人才。本研究为员工持股计划案例提供了证据。

Abstract: Taking Suning E-shop as a case, this paper analyzes the motivation of its implementation of the employee stock ownership plan and the economic consequences after the implementation of the plan. The study found that Suning E-shop started to implement this plan out of the motivation of national policy support, easing its own business pressure and attracting talents. After the introduction of the employee stock ownership plan, on the financial level, Suning E-shop’s short-term profitability has improved, while the turnover of current assets has accelerated, and its short-term solvency has improved to a certain extent, but its impact on long-term solvency is not obvious. On the non-financial level, it has improved customer satisfaction and absorbed more highly educated talents. This study provides evidence for the case of employee stock ownership plan.