| In 2017,the State Food and Drug Administration issued the "13th Five-Year Plan" for drug safety and the "Opinion on Reform to Encourage Innovation in Medical Devices in Pharmaceutical Products",emphasizing that the pharmaceutical industry,as the main force for maintaining public health,needs to pay more attention to the quality of products and ensure the safety and effectiveness of drug use while the government encourages them to carry out research and development innovations.And those under the guise of low prices,but in essence,the production of inferior drugs pharmaceutical manufacturers will be eliminated.Such initiatives reflect the government's strong support for high-quality,innovative pharmaceutical manufacturers with innovation in research and development.Therefore,in the market environment is in a favorable state,pharmaceutical manufacturing enterprises urgently need to improve the enterprise's technological innovation ability,expand the enterprise research and development funds and technical personnel investment,so as to enhance the technical content of products,enhance the competitiveness of enterprises.However,enterprises often have the contradiction of agency conflict,managers are not willing to risk investing a lot of money to carry out technological innovation,as an equity incentive to alleviate this problem,more and more pharmaceutical enterprises pay attention to.According to the current compilation of relevant domestic and foreign literature,the direction of equity incentive research has been spreading towards technological innovation of enterprises.At present,there are relatively few case studies on equity incentive and enterprise technology innovation,is equity incentive effective for technological innovation? And what kind of equity incentive scheme is more effective for technological innovation? Needle can help pharmaceutical manufacturing enterprises to better grasp the equity incentive scheme,especially in improving their technological innovation ability.This also leads to the research focus,equity incentive for technological innovation is effective.Therefore,this paper selects the pharmaceutical on behalf of the enterprise Hengrui Pharmaceutical case study,the analysis process is divided into five parts,the first two parts are mainly on the equity incentive,technological innovation and equity incentive on the role of technological innovation mechanism of the relevant theoretical basis combing.The third part enters the case analysis,through the analysis of the implementation of Hengrui Pharmaceutical Equity Incentive Scheme,finds the characteristics of its equity incentive implementation plan,and provides corresponding proof for the data analysis of the next part.The fourth part is the key part of this paper,vertical use of comparative analysis method,through equity incentive before and after research and development input,research and development output,research and development transformation of data comparison,as well as the implementation of equity incentive as a comparative variable group,the three stages of technological innovation indicators specific values for independent sample t-test,to demonstrate the effectiveness of Hengrui Pharmaceutical Equity Incentive implementation of technological innovation.The horizontal application efficiency coefficient method collects the data on the research and development input,research and development output and research and development transformation of Ling Pharmaceuticals,Sanno Bio of the stock option scheme and Jiangzhong Pharmaceutical series without the equity incentive,and further verifies the effectiveness of the equity incentive implemented by Hengrui Pharmaceuticals to technological innovation according to the ranking of the comprehensive score.Finally,the comprehensive horizontal analysis,it is concluded that The equity incentive implemented by Hengrui Pharmaceutical is effective for its technological innovation,and related enlightenment about the implementation of equity incentive by Hengrui Pharmaceutical. |
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