Research On The Influence Of Human Capital Intensity On The Equity Incentive Of State-owned Enterprises

Since the reform and opening up more than 30 years ago,state-owned enterprises have continuously absorbed new modes of operation and management models from a single state-owned enterprises,and have developed toward diversification and multiple ownership systems.The equity incentive method is one of the most important management methods for the state-owned enterprises to learn from the foreign management model.It plays an important role in promoting the stable development of the company and helping shareholders to supervise the company's managers.Under the background of state-owned enterprises' currency remuneration control,this paper examines the impact of human capital intensity on the implementation possibilities of executive incentives for state-owned companies,and their economic consequence.This paper takes the state-owned enterprises that implemented equity incentive plans from 2008 to 2013 as research samples,proposes the concept of human capital intensity based on relevant literature,and refers to relevant literature to classify state-owned enterprises,and studies the relationship between equity incentives and corporate performance.Firstly,we analyze the correlation between corporate performance;Then we use logistic regression to analyze the choice of human capital intensity and equity incentive;Finally,a multivariate linear regression was conducted to analyze the effects of human capital intensity and different characteristics on the performance of state-owned enterprises before and after the implementation of the equity incentive plan.Through research,it has been found that the state-owned enterprise owners with high human capital intensity tend to choose equity incentive plans when managing their businesses,and the announcement and implementation of equity incentive plans have a catalytic effect on corporate performance and the state-owned enterprises with high human capital intensity are more obvious under the equity incentive plan;The equity incentive plan implemented by central state-owned enterprises has a negative impact on business performance.Further proposing to improve the corporate governance structure and improving the exercise conditions of the equity incentive plan are conducive to the improvement of the operating level and operating efficiency of state-owned enterprises.