A Case Study On The Equity Incentive Of State-owned Enterprises

As a long-term incentive mechanism,equity incentives have been proved to be an effective incentive mechanism in developed countries in Europe and America.Using equity incentives,the resulting agency problems can be well handled,and the effectiveness of stock options can be fully activated,which is conducive to stimulating corporate executives to work harder,improve their initiative and autonomy,and further realize corporate value.maximize.In the past ten years,with the rapid development of China's capital market,many companies have re-emphasized stock options.However,due to various reasons,it is not easy for state-owned enterprises to implement equity incentives,and they can consciously implement equity and implement them smoothly.Therefore,the case study of state-owned enterprises to implement equity incentives is extremely urgent and important.The research of Haicheng in this paper is the first to launch two phases,and the implementation time is similar.Leading the equity incentives of state-owned listed companies has brought strong confidence and great enlightenment to the state-owned enterprises to implement equity incentive policies.Based on the review of relevant research results at home and abroad,this paper uses the theory of equity incentives,using normative analysis,case analysis and other research methods to systematically study the issue of equity incentives in China's state-owned enterprises.The content includes the following parts: The first part is Theoretical analysis,including literature review and theoretical analysis of equity incentives;the second part is case study,mainly taking China Haicheng as an example to analyze the effect of equity incentive implementation;the third part is countermeasure research.After the research,some conclusions are drawn.Enlightenment,state-owned enterprises successfully implement the equity incentive plan,one must design a scientific and rational equity incentive plan,the second is to strengthen the performance management of state-owned enterprises,the third is to improve the ownership structure of state-owned enterprises,and the fourth is to improve the self-discipline mechanism of state-owned enterprises.This paper analyzes and analyzes China Haisum's typical state-owned enterprise equity incentive case,and analyzes the environment of China Haisum's implementation of stock options from the perspective of corporate equity structure and corporate governance.On the one hand,China Haisum's equity incentives have set a reasonable Performance indicators,on the other hand,there are still problems in the design of assessment indicators.In summary,China Haisum's equity incentive plan is feasible and reasonable.Through the case study of China Haisum,the author believes that if the equity incentive plan is to really stimulate the middle and high-level and core talents of state-owned enterprises,it is necessary to design a scientific and reasonable equity incentive plan,strengthen performance management,and improve the equity institutions.