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The Effect Of Equity Incentive On The Performance Of Manufacturing Listing Corporation

Posted on:2016-07-09Degree:MasterType:Thesis
Country:ChinaCandidate:S CuiFull Text:PDF
GTID:2309330464959219Subject:Accounting
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Equity Incentive is born in the 30’s century in America and has history of 80 years. Recently Equity Incentive has been developed rapidly and is an important part of company management theory research and practice application. With the continuous improvement of contract theory, human capital theory and motivation hygiene theory, equity incentive plan has been highly sought after and identified through the practical inspection of developed country such as America. Equity incentive plan is a way to solve principal-agent problem between managers and shareholders, also can solve the conflict of interest. However, the equity incentive is a "double-edged sword", improper use, may also run counter to one’s desire, the adverse impact on enterprise performance. If you use it in a wrong way it will run counter to our desire and have the adverse impact on enterprise performance. Therefore, we should know that the equity incentive can really improve the performance of the company and what is the extent.National economic development and international competitiveness improvement depend on manufacturing industry because manufacturing industry is on the pillar position. so the subject is the relationship of equity incentive and company performance of industry listing corporations choosing the methods of normative research, empirical research, qualitative analysis and quantitative analysis. This paper firstly introduces the related concepts and theoretical basis of equity incentive, explaining the relationship between equity incentive and corporate performance in theory. Secondly, it reviews the development course of of equity incentive China’s manufacturing industry listing Corporation and describes the situation. Then, we use the 49 manufacturing industry listing Corporation making equity incentive from 2006 to 2010 as research samples. We make the empirical analysis through the paired sample T test, multiple linear regression analysis and independent sample T test. Finally the following conclusion: manufacturing listing Corporation can increase the performance of the company significantly after the application of equity incentive; The performance of manufacturing industry listing Corporation and the proportion of equity incentives is obviously related after the implementation of equity incentive; The longer of equity incentive time is not the meaning of the better incentive outcome. So the different incentive time will make different incentive outcome about manufacturing listing Corporation. If equity incentive mode is different, incentive effect will be different.
Keywords/Search Tags:Equity Incentive, the Performance of the Company, Equity Incentive Degree, Incentive Model, Incentive Period
PDF Full Text Request
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