Research On The Equity Incentive Model And Incentive Effect Of The Listed Companies

In recent years, equity incentive as one of effective means to solve enterprise principal-agent problems, more and more attention by each company. For the vast number of enterprises, small and medium-sized investors, regulators, strengthen the study of equity incentive has a very important practical significance:1, for the enterprise, how to design optimization of executive incentive plan will not only help to ensure their own profits maximization, at the same time also can realize the company key staff work enthusiasm fully mobilized, have excellent talents for the long-term development of the enterprise.2, since regulators, based on the deficiency in current domestic equity incentive to explore, to create a good environment to provide reference to enterprise development. 3, the small and medium-sized investors, equity incentive closely related with its own income, good equity incentive plan is to achieve effective impetus to the further development of enterprises, and defects in the equity incentive scheme could be executives tools of medium and small investors’ earnings.This paper describes the meaning of equity incentives, classification and basic elements, and through the elaboration of human capital theory, principal-agent theory as the theoretical basis of this study lay. Secondly, the listed company’s equity incentive and operating results of the empirical analysis of correlation analysis to explore the close ties between the two and influence. Finally, to establish and improve the incentive system of listed companies to make some suggestions to make China’s listed company’s equity incentive system to run more efficiently, thereby improving corporate performance.Through the analysis to the following conclusions:(1) the equity incentive plan should have their own characteristics. Due to there are different types, different size and different property, this objectively determine the equity incentive plan can’t be fixed. Every equity incentive plan should, therefore, has its own characteristics.(2) perfect the equity incentive measures is necessary. To perfect the equity incentive plan is not likely to let the validity of equity incentive into full play, the company can’t assume only a single by equity incentive schemes can solve the company to meet all the problems in the daily operation and management, perfect the related supporting measures equity incentive is the enterprise to implement equity incentive the important guarantee to solve the problem. There is no perfect supporting measures to perfect the incentive scheme of also useless.