Font Size: a A A

The Empirical Research On Effects Of Employee Equity Incentive On Performance Of The Company In High-tech Enterprises

Posted on:2017-05-15Degree:MasterType:Thesis
Country:ChinaCandidate:S HuangFull Text:PDF
GTID:2359330512474500Subject:Financial management
Abstract/Summary:PDF Full Text Request
After tradable share reform completed,equity incentive as the long-term incentive system has a rapid development in China and more and more listed companies has joined the ranks of the equity incentive annually.On the one hand,as an important incentive to motivate employees and corporate interests of consistency,the successful implementation of equity incentive created the myth of rapid development;on the other hand,equity incentive system has become a disguised channel transferring benefits in some companies.In this context,how to combine reasonable equity incentive system with our institutional background to give full play of the effect of employee incentive and improve the company’s performance has become a hot topic among many scholars.Therefore,further exploration of the relationship between employee equity incentive and corporate performance became the focus of this study.This paper selects the high-tech enterprises as the research target which is relating to the future development of the national economy and people’s life.Drawing on the results of relevant empirical research at home and abroad,It combines with our institutional background and characteristics of the high-tech listed companies,adopts multiple linear regression and paired empirical test research methods to analyze the relationship between the employee equity incentive and corporate performance by the angle from the horizontal and vertical depth and also try to explores the deep-seated reasons which affect the implementation effect of equity incentive,and put forward a sound equity incentive system of reasonable proposals.This study includes the following sections:The first part is an introduction.This part describes the background significance,research framework and contents and summarizes the innovation of this paper.The second part is the literature review.In this paper,it reviews correlation studies between incentive and corporate performance and studies of factors which impact on the relationship of equity incentive and corporate performance,and both of domestic and abroad literature are reviewed.The third part is the theoretical analysis of this article.This section introduces the related concepts of equity incentives and corporate performance,and from the three aspects of the Principal-agent Theory,Managerial Power Theory and Human Capital Theory to introduce the theoretical basis of equity incentive and corporate performance.The fourth part is the theoretical analysis and assumptions.This part combines the status quo of equity incentive implementation and intrinsic motivation in the high-tech enterprises,and puts forward the hypothesis based on the theory of equity incentive and corporate performance.The fifth part of this article is study design.It introduces the selection of study sample,the source of the data,design of the model and significance of the model’s variables.The sixth part is the empirical research part of the paper.This part mainly uses the sample company’s market data to carry on many kinds of empirical tests,and uses the result of the empirical test to prove the correctness of the hypothesis.The seventh part includes conclusions of this study,policy advice and research limitations.Based on exploration of the employee equity incentive and corporate performance correlation,the innovation of this paper lie in further subdividing employee equity incentives to the core motivation and skill in management incentive,researching the incentive effects of both and distinguishing the difference.And in the context of different ownership nature,we discussed the differences between changes in different types of employee equity incentive effects.Positive results of this study showed that different types and modes of employee equity incentive have different effects in the high-tech enterprises.Furthermore,under different ownership nature,employee equity incentive effects are different and there are significant differences in management incentive effect.
Keywords/Search Tags:employee equity incentive, performance of the company’s, core technical staff Incentive, management Incentive
PDF Full Text Request
Related items