Research On Optimization Of Stock Incentive Scheme Of HUANGHE WHIRLWIND CO.,LTD.

In the modern enterprise system,with the separation of business management rights and ownership,the moral hazard and adverse selection problems brought about by the principal-agent contradiction cannot be ignored,and equity incentives as a long-term incentive tool can realize the personal interests of the senior management and the company.Long-term benefits are bundled in a consistent and risk-sharing manner,so equity incentives are an effective measure to alleviate agency problems.As a technology-intensive enterprise producing synthetic diamonds,HuangHe Cyclone Co.,Ltd.,how to retain core technicians,maximize human capital efficiency,and provide inexhaustible intellectual support for the advancement of its industrial intelligent strategy.In the case of Cyclone Co.,Ltd.,it is an important challenge,and the current Yellow River Cyclone Co.,Ltd.is facing the status quo of insufficient salary incentives,and its equity incentives can just make up for the lack of compensation incentives.Therefore,the optimization research on its current equity incentive plan is not only the proper meaning of the company's implementation of the industrial intelligence strategy,but also the inevitable requirement of alleviating the problem of agency and insufficient incentives.This has far-reaching significance for the company's reform and development.It will have important reference significance and reference value for implementing equity incentive plans for other enterprises in the same industry.The first chapter of the thesis introduces the research background significance of equity incentives,research status at home and abroad,and research ideas and methods.The second chapter takes the principal-agent theory,human capital theory,two-factor theory and stakeholder theory as the theoretical basis of equity incentive research,and introduces the eight elements of equity incentives in detail.The third chapter firstly introduces the Yellow River Cyclone Co.,Ltd.from the two aspects of development history and organizational structure.Then it analyzes the status quo of its salary incentives.It is concluded that the current salary incentive level of Huanghe Cyclone Co.,Ltd.is insufficient,and it needs equity incentives.The conclusion of the remedy clarifies the necessity of the equity incentives of Huanghe Cyclone Co.,Ltd.,and finally introduces the contents of its two equity incentive schemes in detail.The fourth chapter analyzes the factors such as incentive price,incentive object,amount of exercise,and exercise conditions in the two equity incentive schemes,and deeply analyzes the irrationality of these factors in the process of equity incentive scheme design.The fifth chapter focuses on the problems of the equity incentive scheme,and optimizes its equity incentive scheme from the perspectives of four incentive factors:exercise price,incentive object,number of exercise rights and exercise conditions.The sixth chapter is based on a more macro perspective,expounds the guarantee conditions of the equity incentive plan,and proposes measures from four aspects:independent director system,information disclosure mechanism,spiritual incentives and capital market.