The Research Of Qingdao Haier Equity Incentive

As an important way,company manger's short-term behavior can be prevent effectively by equity incentive,made managers pay more attention to the long-term development of the enterprise.Therefore,the listed companies "principal-agent" can be solved by the equity incentive.In the late 1880's,many western enterprises in the developed introduced equity incentive and had gained a good effect.By contrast,in the early 1990 s,enterprise in China began to introduced the equity incentive.Until2006,China Securities Regulatory Commission issued the The listed company equity incentive management measures.Then,the equity incentive system slowly into the regularized orbit.Until 2014,about 683 listed companies introduced equity incentive announcement.But only 157 listed companies completed the equity incentive successfully.In order to provide valuable empirical evidence,I used Qingdao Haier as my study case,to have a further study.As a leading enterprise in China's home appliance industry,it is one of the company that carry out four equity incentive plan.In the thesis,I briefly introduce the related literature of equity incentive at home and abroad,then presented concepts and the main kinds of incentive stock.Then,presented the human capital theory,two-factor theory and the principal-agent theory,these are the three core theoretical basis of the equity incentive.According to the theories,we analyze the enterprises equity incentive plan as a case study,which includes its equity incentive plan and the completion.Furthermore,we analyze the companies performce after Qingdao Haier implement equity incentive.And from the point of view of financial and non-financial perspective,this article analyze the effective of the equity incentive.Evaluate the effect of the equity incentive,this paper analyze the successful experiences of the case.Lastly,summed up the useful enlightenment for other listed enterprised.