A Study On The Choice Of Equity Incentive Mode Of Listed Companies In China

With the rapid development of our country’s economy, the competition between the enterprises becomes more and more fierce, companies can profit is to a certain extent in competition depends on the core enterprise senior management personnel and technical personnel. How to reasonably, to maximize the use of senior management personnel of the enterprise and core technical personnel value, improve enterprise comprehensive strength become a growing concern for many business owners. Equity incentive as a kind of effective incentives is increasingly recognised by listed companies, more and more the implementation of equity incentive of listed companies in order to improve enterprise’s comprehensive strength. The China securities regulatory commission promulgated the measures for the management of the listed company equity incentive(try out) specification for the implementation of equity incentive, mainly points out the restricted stock and stock options, two types of equity incentive, in reality, Chinese listed companies according to oneself circumstance on the equity incentive mode choice also shows a certain preference, but how to correctly choose equity incentive way to become a listed company owners to consider problem.In this paper, our 2012-2014 embodiment 525 listed companies equity incentive for sample analysis of China’s listed companies the choice of equity incentives status quo. This article also scholars of research results, equity incentives that led to choose the factors of preference were studied, and the foregoing findings were verified by IFLYTEK Case.Through empirical and theoretical research, analyzes equity of listed companies incentives preference status quo, based on the concept of restricted stock and stock options, features and sort out differences on the shares of listed companies on the impact of incentives preference study factors, summarized China’s listed companies equity incentive way how to choose the specific recommendations.This paper argues that the existence of the equity incentives to select industries and enterprises which, nature of the company, cash flow and business growth, and many other factors relations, construction, real estate, scientific and technical services businesses should tend to use the way stock options, state-controlled enterprises should tend to choose the way of restricted stock, illiquid companies tend to use stock options should be the way in the early stages of growth companies tend to use stock options should be the way.This study makes up for the lack of domestic research the issue and prepare for the implementation of equity incentive of listed companies to provide a reference.