Research On Stock Option Incentive In Listed Companies

The most striking feature of modern corporate governance is the separation of two powers,which results in the emergence of principal agent problem.In the international capital market,equity incentive has got widely attentions and been considered as an effectively way to reduce principal-agent cost,promote corporate performance improvement,avoid frequent flow of corporate personnel,reduce short-term behavior,such as executives.In China,the private enterprise is affected by its special ownership structure and corporate governance structure,the principal-agent problem is increasingly prominent.After form of non-tradable shares,,China's relevant laws and regulations continue to improve,more and more private listed companies choose to implement equity incentive.Based on the above background,the study of private listed companies equity incentive plan is of great significance.Equity incentive is a long-term incentive mechanism to motivate and retain the core talent.The enterprise through some restrictions,so that employees hold shares in the form of enterprise,let employees bring to share business growth and enterprise income,to form a community of interests,become a shareholder participation in corporate decision-making,profit and risk sharing,and strive for business services,to achieve long-term goals of enterprises.Based on principal agent theory,human capital theory and incentive theory,this paper analyzes the case of Wangsu Science Technology Co.,Ltd.Focuses on the analysis and analysis of the design and implementation effect of equity incentive scheme.Through the analysis of the scheme design and the summary of the implementation effect,it is considered that the design of the equity incentive scheme is reasonable and the effect is significant.Since the implementation of the plan,the company increased performance incentive target revenue increases,stock prices,to achieve the company,employees,investors three party win-win.Also the shortcomings of Wangsu equity incentive plan,mainly from the company's operating performance and incentive to leave the situation and other aspects of in-depth analysis,finally discusses how to make Wangsu equity incentive to achieve better results.