Research On Optimization Of Equity Incentive Scheme In Automobile Industry

In the era of management technology has become increasingly complex,the company's equity is also increasingly dispersed,which makes the status of human capital in the company significantly increased.In order to encourage their managers and staff,large companies actively practice new form of equity incentives.However,the effect of equity incentive has been controversial in academia.In this paper,HAIMA is the main research object.It mainly uses the case analysis method and the literature research method,carries on the detailed analysis to its published equity incentive plan.At first,as the study found that,the exercise price is too low,the HAIMA group in the near-term closing price of the lowest time announced the exercise of the equity incentive to reduce the exercise price,made the intensity of equity incentive weak.Second,the incentive period is not long,in case that the company has not a fuzzy incentive motive,then it should increase the company's incentive period.Third,the equity incentive performance indicators set too single.HAIMA group only choose the net profit growth rate and weighted average return on net assets of the two indicators,there is no choice and the industry benchmark enterprises to compare,only a single financial indicators for one-sided assessment.The results of this study will help our listed private enterprises to learn from,and then combine their own characteristics to develop effective equity incentive program.