The Research On The Influence Of Thr Equity Incentive Of Gree Electric Appliances On The Company's Performance

With the continuous development of the market economy in our country,the separation of management rights and ownership of the company has become a significant feature of listed companies.It is also because of the separation of ownership and management of the status of corporate governance issues have become increasingly prominent,and many enterprises have also been seriously hampered.In the internal rights distribution company,ownership is owned by shareholders,managers were granted the right to run the company,they represent different interests,they are maximizing their own interests at the same time will have a series of contradictions and conflicts of interest.This kind of principalagent governance mode,shareholders and managers to have the conflict incomplete contract,asymmetric information and so on,and these conflicts are very easy to produce the company's operating performance is not high,low management efficiency and weak competitiveness and other adverse consequences.The implementation of equity incentive measures can effectively alleviate this contradiction,it is the most important goal is to promote the interests of managers and shareholders tends to be consistent,so that managers can make decisions from a longer-term perspective in the management of the company,to achieve the long-term and stable development of enterprises.Therefore,many listed companies are also more and more inclined to choose equity incentive measures to improve the company's governance,so that the company's long-term development.GREE is China's first attempt to equity incentive measures of the enterprise,so this paper mainly GREE as the research object,from two aspects of theory and empirical on equity theory and practical application of research,this article mainly from the following aspects:First of all,the background of this topic and the value,reveals the significance of the research,and through literature analysis and summary of the domestic and foreign related research results,understand the present situation of this topic at home and abroad and the main problems of the research,mining innovation value and deeper meaning.Secondly,a case study on the implementation of equity incentive for GREE electric appliances.The first of China's first implementation of equity incentive motivation of GREE do a general introduction and implementation of equity incentive,then elaborates GREE equity incentive mechanism type,the source of stock,equity incentive object and the implementation of equity incentive measures of the present situation of GREE electric appliances are introduced;Finally,the share of GREE electric appliances in the implementation of equity incentive measures to alleviate agency conflicts,reducing agency cost,mobilize the initiative of administrators,optimize the structure of human capital and other successful experiences,and put forward the reasonable choice of equity incentive targets and proportion,to set appropriate period of equity incentive and incentive conditions to establish and improve the listed companies and other measures to the listed company equity incentive reform,so that listed companies can successfully implement equity incentive reform.