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Research On The Effect Of Equity Incentives In Growth Listed Companies

Posted on:2019-04-23Degree:MasterType:Thesis
Country:ChinaCandidate:X F ZhangFull Text:PDF
GTID:2359330542984464Subject:Accounting
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In recent years,growth companies have played an increasingly important role in social and economic development.This type of company is characterized by high growth,attracting the attention of many investors.How to maintain a high growth trend is the key to the management of growth enterprises.For a growth company whose business nature is mostly concentrated in the high-tech field,the initiative and enthusiasm of employees' work directly determines the company's development trend,and the realization of effective employee incentives has become the core of corporate management.Equity incentives are widely used by companies as incentives for employees.For growth companies,is this incentive effective,and how does the proportion and mode of equity incentives affect implementation? This article will discuss this in depth.This paper takes incentive theory,optimal contract theory,human capital theory and corporate growth theory as the theoretical basis,selects all A-share growth listed companies that implement equity incentives in China from 2013 to 2015 as samples,and discusses equity incentives for growth listed companies.The role.Through descriptive statistics,the dissertation concludes the status quo of the implementation of equity incentives for listed growth companies,and uses correlation analysis and multiple regression analysis to examine the effect of equity incentive ratios and models on the implementation of equity incentives for growth listed companies.Empirical studies have found that among growth-listed companies,the performance of companies that have implemented equity is better than that of unexecuted companies.The performance of growth-listed companies after equity incentives is better than that of companies before implementation,that is,the implementation of equity incentives is effective.The study also found that the proportion of equity incentives has a positive impact on the implementation effect;in the incentive approach,restrictive stocks can more significantly promote the implementation of equity incentives.Based on the research results,this article proposes strategies and suggestions for improving the performance of equity-based incentives for growing listed companies from the perspective of companies and governments.
Keywords/Search Tags:Growth-oriented enterprises, Equity incentive, Implementation effect, Independent sample T test, Paired sample T test
PDF Full Text Request
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