Research On The Impact Of Equity Incentive On Enterprise Performance In CATL

In modern enterprises,due to the continuous improvement of equity dispersion and management difficulty,the contradiction between enterprise operators and owners is increasingly intensified,in order to make the interests of both parties converge and achieve the unity of the two goals,each enterprise began to implement equity incentive programs.To a certain extent,the implementation of equity incentives can alleviate the contradiction between owners and managers,fundamentally solve the problem of insufficient endogenous motivation of enterprises,stimulate employees’ enthusiasm for work,and then improve corporate performance.At present,our country is in the core stage of scientific and technological innovation,the importance of scientific and technological innovation to promote national development is self-evident,focusing on the development of high-tech enterprises has become China’s long-term development policy,in recent years the state has paid more and more attention to this aspect,the "Thirteenth Five-Year Plan" proposed to focus on the development of new energy industry,the policy is conducive to the development of the battery industry,but with the talent and enterprise innovation ability put forward higher requirements.In the battery industry competition is quite fierce at the critical moment,how to survive the enterprise,how to keep up with the pace of the times is particularly important,high-tech enterprises rely on high-end technical talents,enterprise innovation and development need to introduce and retain talents,enterprises to implement equity incentives can not only attract and retain these talents,but also stimulate their innovation,so the implementation of equity incentives for the current high-tech enterprises is very important.Taking CATL,a leading enterprise of new energy batteries,as an example,this paper summarizes the scheme of equity incentive implementation in recent years,analyzes it from financial and non-financial aspects,and concludes that equity incentives will have an impact on the performance of enterprises.The horizontal analysis mainly selects BYD,Guoxuan Hi-Tech,EVE Lithium Energy and Funeng Technology,which are also leading battery enterprises,to compare,analyze and compare whether these new energy leading enterprises have obvious incentive effects due to the implementation of equity incentive plans,and the longitudinal analysis is a comparative analysis of the financial indicators before and after the implementation of equity incentives in CATL in 2018,mainly including corporate profitability,debt repayment,operation and growth capacity.The non-financial indicators are based on the analysis of the changes in R&D investment,R&D personnel construction and market share,and finally conclude that the implementation of equity incentives has a positive effect on the performance of CATL enterprises.By analyzing the cases of implementing equity incentives in CATL in recent years,it can be seen that the implementation of equity incentive policies is conducive to attracting and retaining core members on the one hand,and on the other hand,it can also restrain senior managers and prevent short-sighted behaviors of managers,thereby improving the performance level of enterprises.In addition,the analysis of CATL’s equity incentive plan can also provide valuable reference experience for other new energy industries and promote the healthy development of the industry.