Research On The Performance Of Jieshun's Continuous Stock Incentive

Since China promulgated the policy of equity incentive in 2006,equity incentive has been widely concerned as an incentive mechanism for enterprises to stabilize the staff and improve their work enthusiasm.In 2016,the ministry of finance issued a notice on income tax related to equity incentive,vigorously supporting mass entrepreneurship and enterprise innovation.High-tech enterprises are typical intelligence-intensive industries,and their development largely depends on the innovation ability of enterprises,which in turn largely depends on high-quality employees.In order to retain high-quality talents,it is necessary to develop a scientific and reasonable incentive mechanism to stimulate his work enthusiasm and creativity.As a typical effective incentive mechanism,equity incentive has been adopted by more and more high-tech enterprises.Therefore,it is of great significance to study the causes and performance of equity incentive in high-tech enterprises to promote the scientific formulation and effective implementation of equity incentive in high-tech enterprises.Continuous equity incentive refers to a series of equity incentive plans.The implementation of equity incentive can effectively solve the principal-agent problem,enable managers to better coordinate the relationship between short-term interests and long-term development of enterprises,and prevent operators from making short-term behaviors that affect the company's development strategy and harm the interests of shareholders.The implementation effect of equity incentive is mainly based on the evaluation and analysis of the change of enterprise performance level,including financial performance evaluation that reflects financial status and operating results,and non-financial performance evaluation that drives the realization of financial performance.Through full and accurate evaluation of the effect of equity incentive mechanism,can make policymakers to perfect enterprise management system,perfect the equity incentive mechanism,so as to guarantee the implementation of equity incentive effect,stable staff,improve staff work enthusiasm,to strengthen the enterprise core competitiveness,improve enterprise value,finally realize the management goal of maximizing the wealth of shareholders.Based on the principal-agent theory,interest convergence hypothesis,information asymmetry,human capital theory as the theoretical basis,take the case analysis and financial index method to the quantitative analysis of the information technology industry's leading enterprises jie shun technology implementation of equity incentive motivation as well as the implementation of the third phase of continuous after the equity incentive plan to shun the impact of the financial performance and non-financial performance of science and technology,the following conclusions:(1)continuous equity incentive can improve the competitiveness of the enterprises(2)consecutive equity incentive to enterprise's business performance has a certain role in promoting(3)has a positive effect of market;Also received the following case revealed:(1)perfect the equity incentive plan(2)the performance indexes of restrictive equity incentive plan combined with a higher pay(3)the timing of the launch of restricted stock incentive plan,selection of indicators to appropriate(4)the number of equity incentive continuously awarded to moderate(5)improve the external capital market environment(6)shortcomings.