Applied Research, Restricted Stock Incentives For Listed Companies In China

In China, the "Equity Incentive Measures for the Administration of Listed Companies (Trial Implementation)" promulgated, there have been 20 companies have implemented restricted stock incentive plan, the current number of enterprises are still growing. As China's capital market, corporate governance mechanisms influencing factors such as the developed countries, international differences equity incentive process, inevitably new problems, thus weakening equity incentive role, is difficult to achieve the intended goal, therefore, in the Chinese code start time of the equity incentive, restricted stock incentives for research have important practical significance.This paper analyzes the implementation of restricted stock incentive plan Baoshan iron and steel plant specific steps, summed up the experience of its success and shortcomings, in this based on the implementation of China's listed companies restricted stock incentive plan to implement methods and procedures were designed and analyzed the implementation process management problems that may exist. To make the proposed restricted stock incentive plan and the feasibility of a more operational, article also a listed company to study for their specific operations carried out restricted stock incentive plan design, the company restricted stock analysis of the specific implementation processes, and incentive funds extraction, restricted stock price setting, grant number, line right of relevant issues have been explained. Finally, the implementation of China's listed companies restricted stock incentive plan may face the problem, this paper presents a comprehensive proposal.This paper by quantitative analysis and research methods have a qualitative analysis of the empirical analysis of the combination, and specification analysis and other methods. Restrictive stock incentive plan for the implementation details of proposed a more feasible design, combined with the actual application of the scheme to listed companies limited stock incentive plan for the implementation process, to verify the validity of the scheme.The main achievements of this paper has the following aspects: (1) analysis of the principle of restrictive stock incentive, restricted stock incentive validity of conclusions. On this basis the theoretical basis of restricted stock and realistic basis for analysis, the actual situation in China by restrictive stock incentive plan implementation. (2) design restrictive stock incentive plan implementation processes, and on individual elements of the analyzed, on incentive Fund of extraction and distribution ratio determines, restricted stock prices determine which design and research, and the effectiveness of the proposal. (3) for the specific circumstances of listed companies in China, for restricted stock incentive plan design, use restricted stock plan of action for more intuitive navigation.