A Study On The Effect Of The Implementation Of Equity Incentives In State-owned Listed Companies

After the emergence of modern enterprises,equity incentives can prevent executives from making short-sighted decisions and ease entrusted agency,so they have gradually emerged in the world.With the new round of reforms of state-owned enterprises,the State-owned Assets Supervision and Administration Commission has successively promulgated the equity incentive regulations for state-owned listed companies.Many state-owned enterprises have deepened the reform of state-owned enterprises through equity incentive plans.However,whether the incentive plan can really overcome the disadvantages and limitations of state-owned enterprises before implementation,and whether Realizing the stable growth of enterprises still needs research.Based on relevant theories,this article will sort out the literature on effect of equity incentives,combine the relevant laws and implementation environment of state-owned enterprise equity incentives,and use case study methods to explore the impact of CSCEC’s equity incentives on corporate.Focus on the analysis of the motivation,progress and content of the four-phase incentive plan of CSCEC,and summarize the design of incentive schemes of all state-owned enterprises,compare and summarize the design elements of CSCEC four-phase,use the financial and non-disclosure disclosed by CSCEC in the past seven years.Financial information analyzes corporate based on the four influencing effects of core capabilities,management capabilities,corporate performance,and market performance.The analysis found that China State Construction’s plan has achieved its goals and has a positive impact on the company.It has gained enlightenment for listed state-owned enterprises.The design should be combined with reform strategies,cross and in-depth implementation,target trends,set scientific and effective conditions,and promot corporate governance construction;implementation,Attach importance to personnel training,reasonably choose the timing of announcements,open and transparent information,supervise and guarantee implementation,use the capital market and the law.In response to CSCEC’s suggestions,one is to effectively cover and expand the scale;the second is to disclose the assessment and adjust the objects;the third is to target conditions and choose diversity.