Empirical Study And Case Study Of Company's Equity Incentive

As a long-term incentive mechanism to solve the inconsistency between the operator and the owner's objective function,the equity incentive mechanism was produced in the middle of the twentieth Century in the United States.But whether the equity incentive is applicable to China's financial market and whether the equity incentive has an impact on the corporate value and performance of the listed companies?Does the company's equity incentive affect the company's value and performance of the listed company? What is the correlation between the management shareholding ratio and the company's equity incentive? What is the correlation between equity incentive and corporate equity structure and dividend policy? The equity incentive of listed companies and non-listed company in China is worth studying in a series of problems,such as how to draw lessons from each other.First part of this article is based on the data of the listed company.Using the method of empirical analysis.It is believed that the positive influence of equity incentive on listed companies is effective in the short term,while the long-term incentive effect is not significant.Based on equity-incentive-only sample,compared with the implementation of equity incentive,current domestic listed company executives are more willing to hold company stock than to implement equity incentive.The Logit model figured out that under fixed conditions,the probability of implementing equity incentive is greater if the company implements annual dividend and the smaller proportion of the largest shareholder.It is considered that the current listed companies can learn from some excellent non-listed company's experience and implement equity incentive in a timely manner,according to their own development characteristics,so as to achieve the role of equity incentive in the long run,etc.