Study On Equity Incentive Effect Of Listed Companies On GEM

China's gem from October 23,2009 to the present.Provide a financing channel for many enterprises,especially hi-tech itself has the potential for the development of small and medium-sized enterprises,provided the conditions for economic transformation and development of China's multi-level capital market,and also conducive to a virtuous cycle of the gem market.As a long-term incentive equity incentive way more popular in recent years,the company is part of the equity granted incentive target,the overall interests of the company and they are closely linked,but also can promote the value of the company increased faster.GEM companies are the core of the main characteristics of technology and talent,so attracting and retaining talent for GEM listed companies is particularly important.Therefore,it is necessary to adopt a long-term incentive approach to the core technical staff of the company.Equity incentive this way can contribute their strength for the long-term development of the company's core employee incentive,and can get the benefits brought by the company's growth,which can promote the healthy and steady progress of the gem.The gem was founded after the reform,the liquidity and the gem and emphasize the information disclosure characteristics make it more suitable for the main board of the implementation of equity incentive system.However,the establishment of the gem is relatively short,and its capital market and related laws and regulations are not mature enough.Whether the equity incentive can achieve the expected actual results still needs to be tested.In this case,the sorting and classification of the gem of our country current situation of equity incentive in listed companies,and then select can fully describe the gem company performance index to carry out a comprehensive assessment of the value of the company,the study of the relationship between the GEM listed company equity incentive and performance.Draw the following conclusions:now China's GEM listed companies only used stock options and restricted stock incentive mode two;the implementation of equity incentive companies mainly in the manufacturing industry and information technology services;most of the net profit growth rate of the performance evaluation index and the rate of return on net assets;incentive shares generally is not very high the main object is to incentive;the core technical personnel and business personnel;after the implementation of equity incentive in improving the overall performance of the company,but the effect is not very obvious;from the incentive effect,better than the effect of the implementation of stock option restricted stock incentive mode.On the whole,equity incentive can achieve long-term incentive purposes and improve the company's performance,but it does not fully play a role.In this regard,the state and the company itself are to be targeted to improve the efficiency of capital market,improve laws and regulations,strengthen internal control,setting up reasonable equity incentive plan,to ensure that equity incentive can make the best use of them,can be implemented smoothly and effectively.