Case Study On Equity Incentive Of Yili

Equity incentive,as an important means to solve the problem of principal-agent cost of enterprise owners and managers,has been fully used in western countries.Reasonable equity incentive scheme can bring good economic benefits to enterprises,but there are still many problems in the implementation of equity incentive in China due to the late introduction of equity incentive.With the development of China's market economy,more and more listed companies begin to implement equity incentive plans,but can equity incentive really reduce agency costs and improve corporate performance? Therefore,the study of equity incentive has its theoretical and practical significance.On the basis of summarizing the relevant research results at home and abroad,this paper uses the methods of literature review and case study,drawing on the international experience and combining with the actual situation of our country,and takes Inner Mongolia Yili Industry Group Co.,Ltd.(hereinafter referred to as "Yili Co.,Ltd")as the case study object to systematically study the equity incentive of Chinese enterprises The content mainly includes the following parts: the first part introduces the basic theory of equity incentive,summarizes the existing research results at home and abroad,and introduces the theoretical basis and basic framework of the research;the second part takes Yili equity incentive as a case to conduct indepth study on the incentive elements,incentive background,incentive motivation,etc.;the third part is based on the case On the basis of the analysis,the paper analyzes the implementation effect of Yili stock equity incentive from the financial indicators,non-financial indicators and other dimensions;the fourth part,combined with Yili stock case,puts forward the referential significance for the design and implementation of equity incentive from the perspective of company,industry and country.This paper gets the following conclusions:(1)equity incentive is an effective way to solve the principal-agent problem of Yili,which plays a role in promoting the company's performance and retaining core talents in the two equity incentive;(2)the design of equity incentive plan should consider the internal and external environmental factors of the enterprise,so as to design a reasonable equity incentive plan from a multi-dimensional perspective.(3)When designing the equity incentive,we should analyze the company's all-round situation,and judge the necessity and feasibility of the equity incentive plan accurately according to the company's strategic objectives.In a word,this paper takes the equity incentive of Yili stock,the leading dairy enterprise in China,as a case study,to study the impact of equity incentive on corporate performance,and to provide some ideas and suggestions for other listed enterprises to implement equity incentive.