Research on the Impact of Employee Stock Ownership on the Performance of NEEQ Internet Enterprises

• 1、Finance and Statistic School, Hunan University, ChangSha 410006

Abstract：Takingthe data of NEEQ Internet enterprises from 2015 to 2017 as the research object, this paper adopts the empirical method to study the impact of employee stock ownership on enterprise performance in such firms. Due to the poor integrity of relevant databases, this paper designed a set of data collection and arrangement scheme to obtain the main data from public information such as financial statements by means of manual collection, and verify and supplement the data in the database to form the final empirical data. On this basis, this paper conducts an empirical study on the relationship between employee stock ownership and corporate performance of NEEQ Internet enterprises by adopting multiple methods such as principal component analysis, Propensity Score Matching and multiple regression analysis. The results of empirical research show that employee stock ownership has a significant positive effect on corporate performance in the NEEQ Internet industry. Under the control of a series of corporate characteristics, the financial performance of companies with employee stock ownership is significantly better.

Keywords： Finance Employee stock ownership NEEQ Corporate performance