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The Empirical Study On The Effects Of Equity Incentive On The Performance Of Listed Companies In China’s Information Technology Industry

Posted on:2016-03-15Degree:MasterType:Thesis
Country:ChinaCandidate:W Z FanFull Text:PDF
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With the development of economic globalization and information technology,theproportion of information technology in the national economy is increasing day by day,and ithas become an important force in the economic development and social progress.The core ofthe information technology is technology and innovation,and emphasizes the humancapital.And equity incentive can inspire staff enthusiasm and creativity.It also has ability toattract talents and retain talents.Therefore,equity incentive will make it theoretically improvedcompany performance.However,we found that many of the listed companies in informationtechnology industry which in the implementation of equity incentive options,its performancedid not able to increase correspondingly.The study of information technology industry in ourcountry listed company equity incentive results is not rich.So,it is of great significance abouthow effect of the information technology industry listed company equity incentive,and how tomake more effectively implement equity incentive.This paper first explains the research background and research significance,the review ofthe literature at home and abroad,and then the related concepts and basic theory arereviewed,and then introduces the development of equity incentive in our country,and theinformation technology industry in our country the implementation status of listed companiesis analyzed,and then on this basis,through the empirical study analyzed the equity incentiveeffect on the performance of the listed company information technology industry.In theempirical part,this article selects the a-share listed,and in2012started the implementation ofequity incentive of33listed companies as samples,the information technology industry iseconomic value added as the explained variable to measure corporate performance,theproportion of equity incentive as the explained variable,with the company size,capitalstructure,ownership concentration and corporate growth model as control variables.Throughcorrelation analysis and regression analysis,the empirical results,both equity incentive caneffectively improve the performance of listed companies,information technology industry andthe proportion of equity incentive and corporate performance was significantly positivecorrelation. Therefore,Chinese listed companies in information technology industry should furtherexpand the scope of the implementation of equity incentive,and increase the proportion ofequity incentive.The end of this article in view of the external environment and internalmechanism two aspects put forward the relevant countermeasures and suggestions,in order tobetter play the role of equity incentive to improve China’s information technology industrylisted companies’ performance.
Keywords/Search Tags:Listed Company, Information Technology Industry, Equity Incentive, Performanceanalysis
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