A Study On The Relationship Between Equity Incentive And Enterprise Innovation Performance

The problem of equity incentive has become a hot issue for scholars,many scholars are paying attention to the relationship between equity incentive and innovation performance of enterprises,but there is no unified conclusion about which equity incentive model is more effective.With equity incentive becoming a popular incentive method for enterprises,more and more listed companies choose to motivate employees in key technical positions,to make the interests of management and shareholders converge,to improve the innovation performance of enterprises,the development of enterprises can be continued.But,as the use of equity incentive by listed companies in china is still in the stage of continuous exploration,the equity incentive effect is affected by equity incentive model.Therefore,it is of great theoretical and practical significance to study the influence of equity incentive mode on enterprises.This paper takes Yonyou Network and Beijing Teamsun cases to analyze,combined correlation theory and rational use of data analysis to study the relationship between equity incentive model and enterprise innovation performance.Firstly,this paper analyzes the development course and present situation of equity incentive,combined correlation theory to prepare for the case analyze later;Then,it introduces and compares three different kinds of equity incentive modes;Then,using the Differences-in-Differences,in proper order paired the software and it services as the check sample,comparing the effect of different equity incentive models on enterprise innovation performance;Finally,according to the result of case analysis,the paper sorts out the effect of equity incentive mode,and suggest for listed companies which plan to implement equity incentives.This paper considers that implement equity incentive can improve the enterprise innovation performance,but the effect of different equity incentive modes is different.The effect of stock option incentive and restrictive stock incentive on enterprise innovation performance is significant,but the effect of mixed equity incentive on enterprise innovation performance is not obvious.In order to retain talents and improve innovative performance through implementing equity incentive,enterprises need to choose the appropriate equity incentive model according to their own development conditions.If companies are willing to invest more in R&D in order to achieve long-term growth in innovation performance,then the stock option model can be chosen.If the enterprises do not want to increase R&D investment and expect to obtain considerable benefits in the short term,then the restrictive stock incentive model can be chosen.