Table 4 Effectiveness of employee stock ownership plan implementation in the context of smart manufacturing implementation and application.
From: Predictive model on employee stock ownership impacting corporate performance
ESOP_STATUS | ESOP_RATIO | lock-in period | number of people covered | |
|---|---|---|---|---|
Industrial robot | 0.015 (2.62) | 0.019 (3.23) | 0.044 (2.99) | 0.080 (2.46) |
Social emotions | 0.017 (2.38) | 0.028 (3.42) | 0.47 (2.77) | 0.065 (2.52) |
Free cash flow | 0.024 (0.56) | 0.006 (0.12) | 0.078 (0.74) | 0.113 (0.50) |
Asset intensity | − 0.002 (− 1.60) | − 0.001 (− 0.69) | − 0.004 (− 1.43) | − 0.014 (− 2.29) |
Book-to-price ratio | − 0.083 (− 4.41) | − 0.066 (− 3.22) | − 0.202 (− 4.37) | − 0.355 (− 3.45) |
total assets | 0.061 (2.26) | 0.069 (2.28) | 0.147 (2.18) | 0.302 (2.21) |
Enterprise scale | 0.017 (3.00) | 0.009 (1.47) | 0.045 (3.10) | 0.071 (2.26) |
Capital structure | − 0.027 (− 1.19) | − 0.029 (− 1.20) | − 0.090 (− 1.61) | − 0.142 (− 1.16) |
Property right nature | − 0.033 (− 1.93) | − 0.031 (− 1.22) | − 0.089 (− 2.05) | − 0.192 (− 1.93) |
Executive ownership ratio | 0.059 (1.28) | 0.016 (0.30) | 0.112 (0.96) | 0.309 (1.19) |
independent directors | 0.063 (1.49) | 0.063 (1.33) | 0.195 (1.83) | 0.292 (1.25) |
Enterprise age | 0.008 (0.87) | − 0.005 (− 0.82) | 0.014 (0.55) | 0.037 (0.83) |
Constant term | − 0.416 (− 2.61) | − 0.107 (− 0.77) | − 1.011 (− 2.49) | − 1.698 (− 2.14) |
Sample size | 7536 | 7536 | 7536 | 7536 |
Adjusted R2 | 0.024 | 0.017 | 0.027 | 0.027 |
