Empirical Research Of Equity Incentives、Equity Concentration And Corporate Performance

In2005, the share merger reform made our stock market into circulation times, which is create the conditions the implementation of equity incentives for listed companies. For a long time, how to make an effective incentive for management staff has been an important theoretical and practical issues of community concern, the the principal-agent problem along with the separation of ownership and management, equity incentives has been more widespread attention. Not only equity incentives can improve corporate performance to a certain degreeextent, but also the ownership structure is an important effective aspect of corporate performance.As a manufacturing power, manufacture is the mainstay industry of our national economy, so its vicissitude will determine China’s economic restructure and international competitiveness directly.In this paper, make manufacturing listed companies for example, explore the relationship among equity incentives, equity concentration and company performance.This paper has five parts:the first part is introduction, which briefly presents the background, target and result. The second part summarizes the research of domestic and foreign scholars about equity incentives, equity concentration and company performance. The third part is equity incentives, equity concentration and company performance of listed companies related issues, including the concepts and the general theories of equity incentives, the concepts and the general theories of equity concentration; the performance company related concept and evaluation method. The fourth part is empirical analysis among equity incentives, equity concentration and company performance of manufacture listed companies.Through the relevant data and methods, analys the effects of equity incentives on corporate performance, the different impacts of diffferent equity incentives modes and the effects of equity concentration on corporate performance. The fifth part is results and suggestions. Proposed a series of rationalization proposals, for example developming appropriate equity incentives models, equity concentration and performance evaluation system, and wish to contribute to our manufacture listed companies implement equity incentives mechanism and set the equity structure.