The Research On Optimization Of Topband's Equity Incentive

Equity incentive system as a long-term mechanism,that combine incentive and restraint,is mainly used to motivate senior management and key technical staff to work hard,promote them to complete the scheduled performance evaluation conditions,then granted a certain amount of shares of the company,which makes the company executives and owners have a common interest and bear the common risk,which prevents the short-sighted behavior of the operators in a certain extent.Since the reform of stock rights in 2005,many listed companies have put forward and implemented the equity incentive scheme,but the implementation effect of these schemes is different.Some have promoted the growth of enterprises,some have become personnel welfare machine,some even become the management manipulation of the tools for personal gain.The drastic fluctuation of the capital market also causes the low implementation rate of the scheme.So it is very meaningful for the author to do further research on the design of the equity incentive scheme to find out the optimal measures.Shenzhen Topband electronic Technology Co.,Ltd.is a typical hi-tech enterprise.The elements of the equity incentive plan designed in the development process are not reasonable enough.Therefore,optimized incentive scheme not only can help company to measure the performance of the operator effectively,but also stabilize its position in the industry.Based on the results of this study at home and abroad,this paper introduces the related concepts and theoretical basis of equity incentive system,summed up the main pattern of the current equity incentive,expounds the principal-agent theory,human capital theory,incentive theory,residual claim theory;Secondly,combined with the actual situation of Shenzhen Topband electronic Technology Co.,Inc.introduced the specific scheme of Topband equity incentive plan,analyzed company performance from the financial performance and market performance,and put forward the problems of the program;Thirdly,aiming at the existing problems of the equity incentive schemes,the author made the optimal design from the incentive mode,the exercise price,the exercise condition,the performance index and the exercise period.Finally,put forward the safeguard measures of equity incentive optimization scheme.Topband is a high-tech enterprise integrating knowledge and technology,summary and analysis its stock option incentive plan,which can provide some reference for high-tech enterprises of the same type implementing equity incentive plan in the future.