Research On Performance Evaluation Of Equity Incentive Of RH Biological Company

Equity incentive system emerged in the United States in the 1950 s,along with the expansion of the capitalist market,the equity incentive system began to be widely used in Europe,Asia and other regions,after several decades of exploration found that equity incentive as a long-term Incentive system can effectively solve the problem of enterprise principal-agent.China Securities Regulatory Commission on December31,2005 issued "listed companies equity incentive management approach(Trial)",this initiative marks the beginning of our country has begun to usher in a new era of equity incentive development.At present,the equity incentive system of the listed companies of the Main Board has entered a stable development stage.However,the equity incentive system is still in the initial stage of development for the new three boards that have been formally applied to the nation for receiving enterprises on December 31,2013.In recent years,with the development of the new three-board market,its equity incentive plan is also "a hundred schools of thought contend",in a flexible mechanism,the new three-board enterprise equity incentive program design is reasonable? Implementation of the effect? ??Whether to achieve business performance maximization? The study of these problems has very important theoretical and practical significance.This paper takes the theory of modern management and the theory of equity incentive as the guiding ideology,studies the concern of corporate incentive model of equity incentive,selects a representative case company-RH biological,and designs the equity incentive plan as the research object,Combined with the background of the implementation of equity incentive RH biological equity incentive program and the implementation of equity incentive system after the performance changes.In the financial point of view,the use of financial indicators comparative analysis of the implementation of equity incentive after the company's long-term business performance changes.In the market perspective,the event analysis method is used to analyze the short-term wealth effect brought by the event of equity incentive,and then the analysis of the contents of the equity incentive plan of the case company is evaluated,and the whole equity incentive plan is evaluated and the case-Suggestions on Optimization of Equity Incentive Scheme.The results show that RH's long-term performance has improved its profitability and development capability after the implementation of equity incentive,but its impact on long-term solvency is not obvious.The market for the case company to implement equity incentive response is positive effect.In the analysis of the equity incentive plan of the case company,it is found that although the equity incentive plan is in line with the long-term development demand of the company,there are still some problems such as the incentive mode is single,the scope of the incentive object is narrow and the information disclosure of the equity incentive is incomplete.In order to solve the shortcomings of the proposed optimization proposals,the specific recommendations include to use mixed incentive model,expand the scope ofincentive objects,set the incentive elements,and further regulate the equity incentive information disclosure.In this paper,the motivations of the case company,the contents and performance of the equity incentive system are analyzed in hope of providing the new third board enterprises with data base and case support for the implementation of equity incentive system.