Case Study Of Equity Incentive Of Yutong Bus

In recent years,more and more listed companies choose to use equity incentive methods to motivate employees to enhance the company's performance and competitiveness in the market.July 2016,the Commission officially released "listed companies equity incentive management approach",which is the first time from the promulgation of equity incentive laws and regulations have been a decade,which means that equity incentive system in China has been widely used.In this process,China constantly try to explore,to find a set of China's national conditions for the equity incentive management approach.Bus industry leader Yutong bus is in this context to implement and complete its equity incentive plan.In 2012,Yutong encountered production base has reached the limit and capacity bottlenecks,in order to consolidate the company's leading position in the industry to further increase market share,Yutong Bus in 2012 launched the equity incentive plan,and completed the program in 2015.In this paper,the case analysis method is used to introduce the basic situation of Yutong Bus and the background of equity incentive plan,and then describe the implementation plan of equity incentive.On this basis,further analysis of its substantive content and bring the market impact,summed up its implementation effect.Finally,this article from the personality to the common,with a single case as a foothold,the current domestic equity incentive policy to provide some reference comments and suggestions.The main contents of the study are as follows: Part I: Introduction.This paper mainly introduces the research background and significance of this paper,summarizes the contents of the literature at home and abroad,expounds the research ideas and methods,the innovation of this paper.The second part: the theory of corporate equity incentive.This paper mainly introduces the concept of equity incentive,the main types of equity incentive and its comparison,and expounds the background of equity incentive.The third part: Yutong Bus equity incentive case introduction.Mainly on the basic situation of Yutong bus,equity incentive program of the main content and implementation of the introduction.The fourth part: Yutong bus equity incentive case analysis.This part is a multi-dimensional analysis of individual equity incentive cases,and analyzes the motivations,contents,effects and effects of Yutong Bus' s equity incentive policy.Part 5: Suggestions on Improvement of Equity Incentives for Listed Companies in China.From the equity incentive plan,the company's internal management and external business environment in three aspects of the implementation of equity incentive plan to improve the proposal.Part VI: Conclusion and Prospect.Based on the theory and descriptive analysis,this paper summarizes the rationalization proposal of the equity incentive of listed companies in our country,and points out that the article is insufficient and puts forward the direction of the next research.After the study of this paper,the following conclusions are drawn: 1: The equity incentive plan of Yutong Bus is relatively scientific and reasonable,and its behavior brings new opportunities to the capital market of our country,realizing the personal interests of the operator and the long-term interests of the company In close connection,in the true sense of the essence of the enterprise has been sublimated.For the bus industry,other enterprises to implement equity incentive has played a very good leading role model,the development of new energy passenger cars also played a certain role in promoting.Second,the equity incentive system is one of the best institutional innovations to date.It solves the agency problem between the shareholders and the managers of the company,which makes the long-term interests of the managers and the companies become consistent and can promote the long-term development of the company.Three: China is still on the road of equity incentive to explore forward,some enterprises in the application encountered bottlenecks,development encountered obstacles,which listed companies in China is a challenge.China must continue to gain experience from the successful practice of other countries and regions,so as to promote the healthy development of our enterprises.