Case Analysis Of Repurchase Restricted Stock Incentive Of Kunming Pharmaceutical Group

With the continuous development of society,the economic situation at home and abroad is changing,the role of human capital in the modern enterprise system is more and more prominent,and the degree of concern to the equity incentive is also increasing.A good equity incentive mechanism can supervise the staff to effectively complete the task,so that the incentive object and the enterprise to form a community of interests,so as to achieve the purpose of achieving the strategic objectives of enterprises,the development of enterprises play a huge role in promoting the current stage,Many enterprises have begun to implement equity incentives,but really through the equity incentive to achieve the desired effect of the enterprise is not much.Many enterprises from the stock to the stage of the stock to unlock the stage have encountered many problems and difficulties,these problems seriously affected the process of corporate equity incentive program and the effect,making the equity incentive can not play its real effect.The incentive factors of equity incentive of Kunming Pharmaceutical Group are different from those of most listed companies,and have good incentive effect and have certain representation.Therefore,this paper chooses Group as the research object,hoping to be the incentive for Chinese listed companies The implementation provides some successful experiences and inspiration.Kunming Pharmaceutical Group launched a total of two equity incentive plan.This paper first introduces the background of the industry and the history of the company,the structure of the control,the status of the personnel,and the company's repurchase restrictions on the stock incentive program was described in detail,compared the two shares equity incentive plan similarities and differences And then summarizes its characteristics.Then,it analyzes the effectiveness of the company's equity incentive by analyzing the market reaction,the company's financial indicators and the changes of the personnel after the implementation of the repurchase of the restricted stock incentive plan.Finally,the experience of other listed companies for reference and experience.This paper concludes that the equity incentive plan of Kunxiao Group has the following characteristics: The equity incentive model adopts the repurchase restriction stock incentive;the incentive mode of operation is the sub-grant,the division unlocking;the performance unlocking condition adopts the dynamic examination mechanism;the incentive fund Of theextraction mechanism for the progressive extraction;grant price and grant the number of design to consider the market factors,increase the incentive elements of the uncertainty of equity.Kun Group's equity incentive program combines its own characteristics,taking into account a variety of factors,design more rigorous,scientific.On the one hand can effectively attract and stabilize more high-level talent,improve the company's internal governance structure;the other hand is also conducive to correct the management of short-term behavior.In terms of the effect of implementation,this paper compares the key financial indicators of Kun Group with the average value of the companies that carry out equity incentive in the same industry,and analyzes that the repurchase restricted stock incentive scheme of Kunxiao Group is more significant in the incentive effect.This paper draws some successful experiences and enlightenments on the research on the equity incentive plan of Kunming Pharmaceutical Group,which is helpful for the enterprises in the pharmaceutical industry to realize the equity incentive.It will help the listed companies to improve the effectiveness of the equity incentive scheme...