The Research On Motivation And Economic Consequences Of Equity Incentive

With the development of enterprises,the contradiction between claim for surplus value and mastery becomes more and more acute.the resulting agency cost payment and expected value satisfaction has also become an important subject of systematic research value.Benefiting from the reform of non-tradable shares and the development of modern enterprise management system,equity incentive,as an important strategy of modern corporate governance system,has become an important measure to solve the principal-agent problem,internal control problem and talent incentive problem arising from the separation of two powers.It is regarded by many enterprises as the "golden handcuff" to retain core talents and the "engine" to promote enterprise performance growth.Compared with the mature application in the United States and other developed areas in Eurasia,equity incentive still has a lot of room for development in China.Most of the empirical studies in China are based on a corporate group as a whole to verify the necessity and effect of equity incentive,or whether it has a significant impact on the behavior of senior managers such as earnings management through empirical analysis.Based on the above background,it is of great theoretical and practical significance to study the economic consequences and ways of action of equity incentive schemes and implementation of equity incentive for specific enterprises,especially those listed in the emerging field of high-tech artificial intelligence.It also provides constructive strategies and suggestions for improving the scheme design and economic consequences of equity incentive at the implementation level of specific enterprises.As one of the leading AI high-tech companies in intelligent speech recognition technology,IFLYTEK CO.,LTD.has typical research features.Based on the incentive-health two-factor theory,principal-agent theory,human capital theory and contract theory,this paper analyses the three equity incentive schemes of IFLYTEK CO.,LTD.through comparative research method,and studies the mechanism and problems of their economic consequences from four aspects: management,operation,finance and business development;and studies equity incentive from the perspective of open market value through event analysis method.The economic consequences of the excess progressive rate of return in the secondary market are analyzed vertically,and the short-term and long-term effects are analyzed vertically.From the perspective of accounting performance level,the economic consequences of accounting performance indicators such as profitability,development ability,operation ability and solvency of enterprises are analyzed vertically and horizontally through efficiency coefficient method and financial index method,and the economic consequences of accounting performance indicators are also analyzed vertically and horizontally through factor design and management,system and cultural atmosphere.Supporting and improving equity incentive scheme.