Design And Effect Of The Implementation Of Supor’s Equity Incentive

At present, China is in the capital market system construction period, executives of listed companies incentive system, as an important long-term incentive mechanism has been put on the agenda, it becomes our companies to improve their governance structures to promote, promote China’s capital market and the sustained and healthy development one of the important mechanisms. And previous research has focused on the discussion of equity incentive on corporate performance has a positive influence whether, for the study of the equity incentive program design itself is not much paper Supor company as the research object, company governance angle difference before and after the change from the nature of property rights departure, through in-depth analysis of three incentive programs as well as the terms of its announced implementation, in principal-agent theory and contract theory of constraints guidance, research motives in different stages of the actual controller equity incentive program design, trying for the family business advantages and disadvantages of equity incentive reasonable basis for evaluation of the program provider, design and revised equity incentive for the modern enterprise to provide a useful reference. By studying main conclusions : appropriate equity incentive system can effectively enhance the performance of the company; equity family business governance environment easily biased in favor of welfare incentives, motivation designed to reward executives and family members, to solve the principal-agent problem is not the role of clear; foreign equity incentive program under the governance environment are more likely incentive to help resolve conflicts of interest between shareholders and executives due to information asymmetry, the objective function is inconsistent reasons, can effectively reduce agency costs, more in line with long-term development It needs. This study to improve corporate governance and enhance the effects of equity incentive contract design has some theoretical and practical significance.