Research On The Influence Of Equity Incentive On Enterprise Performance In High-tech Enterprises

Equity incentive is a long-term incentive tool,because of its inherent maneuverability,high efficiency,is recognized by many listed companies.Compared with foreign countries,the development history of China's equity incentive is relatively short,not fully mature enough,it was not until 2005 that it would not have been specifically for a coherent policy law of equity incentive of the secular,but with the gradual development of China's equity incentive to improve,the owner of the enterprise gradually see the great potential of its hidden,and followed by creating some doubts.Domestic scholars have published a variety of comments on their own research,a time when a hundred schools of thought contend,greatly promoting the growth of equity incentives.In this paper,Hikvision was selected as the research object and literature review method and case analysis method were used as the main analysis methods.Firstly,relevant concepts and theoretical basis were analyzed and summarized to have a further clear understanding of them.Then has carried on the simple introduction to Hikvision and comb the development of an important period,then the sea conway apparent in 2012,2014 and 2016,three times the equity incentive plan of relevant description,and from the corporate governance structure,strengthen the core competitiveness,core employee motivation and retention of talents from four aspects analyzes the reason of enterprise implementation of equity incentive.Secondly,the influence of equity incentive on performance is analyzed in depth.Firstly,from the perspective of financial indicators,representative indicators of profitability,operating capacity,debt paying ability and development ability are selected to carry out respectively.The second is non-financial indicators,which are analyzed from the perspective of employee structure change,r&d investment and r&d results according to the changes in corresponding years.Through the above analysis,the advantages and disadvantages of equity incentive on performance are obtained,and the countermeasures for further optimization are proposed:(1)extend the period of validity of equity incentive;(2)choose the incentive model suitable for the enterprise;(3)expand the scope of equity incentives;(1)scientific and reasonable assessment indicators should be set for the defects;(2)countermeasures for setting exercise conditions scientifically and reasonably.Through a series of research and analysis related research conclusions,that is reasonable will help enterprise long-term incentive,the validity of equity incentive incentive object allocation,selection of incentive mode,choose different indicators of the basically can have positive or negative effect on equity incentive,the key lies in the choice of the enterprise,and improve some lessons for other high-tech enterprises.