Research On The Influence Of Enterprise Innovation Incentive IFLYTEK Equity

In today's society,information globalization provides a powerful engine for the development of science and technology,and the competition among enterprises is becoming more and more fierce.To survive in the fierce competition,it is necessary to constantly improve the corporate governance structure and maintain the company's core competitiveness.Chinese companies generally adopt the business model of separating ownership from management,which also produces a series of agency problems.Equity incentive provides a new way to solve agency problem,but for high-tech companies,innovation is the key to keep their youth and maintain their core competitiveness.In this paper,Kaxunfei is taken as an example to discuss the impact of the implementation of equity incentive on its R&D innovation from four aspects:R&D spending,R&D personnel input,R&D output and R&D achievements transformation,the study found:(1)compared with the implementation of equity incentive,the number of patents after the implementation of the increase,Enhance the ability of innovation output;The value of R&D expenditure has been rising,but the growth rate of R&D costs has declined during the implementation of equity incentive.Although the number of R&D personnel has been increasing,the capacity has not been significantly improved,and the innovation and transformation ability of R&D is weak.(2)To enhance the implementation effect of equity incentive,the target should focus on core technical personnel,while increasing technical personnel to investigate the size of their capacity;(3)management should make scientific decisions to avoid blind promotion of performance and ignore the return on research and development projects.At the same time,it also puts forward some policy suggestions on the implementation of the equity incentive of high tech companies.The research summed up the successful experience of Kedaxunfei in the process of implementing equity incentive,and also found out the problems existed in the implementation of Kaxunfei and proposed the policy suggestion on the implementation of equity incentive for this companies.