A Study Of Equity Incentive And Its Performance In Star Market Enterprises Under Differentiation Strategy

The Science and Innovation Board is positioned as "hard science and technology",and its related industries are technology-intensive and knowledge-intensive industries.In order to occupy a leading position in the market,the enterprises on the Science and innovation board build their competitive advantages through technology and product innovation.This strategy of implementing technology differentiation and product differentiation requires the design of a suitable equity incentive mechanism,so as to retain and attract talents.Promote continuous innovation and breakthrough development of enterprises,and support the realization of differentiation strategy.Researching on the equity incentive plan of Chinese listed enterprises in STAR market,not only can enrich the theoretical basis of equity incentive,but also can offer reference for the design of equity incentive scheme of other science innovation board enterprises,even other plate enterprises,the theoretical significance and practical significance are both.In this paper,micro companies in science and innovation board enterprises are selected as the research object,and from the perspective of differentiation strategy,the equity incentive scheme of micro and medium companies is analyzed.Based on the review of differentiation strategy,equity incentive and relevant literature and theories of science and technology innovation board enterprises,This thesis makes a summary of the current status and characteristics of equity incentive in STAR market,highlighting its characteristics from the factors of equity incentive tools,quantity,object,exercise conditions and so on.Then it introduces the equity incentive plan of China Micro company under the differentiation strategy,expounds the content of the differentiation strategy of China Micro company,analyzes the specific content of the company’s implementation of equity incentive in order to meet its differentiation strategy,and sorts out the two equity incentive plans.Then,it analyzes the effect of equity incentive implementation of micro and medium companies under differentiation strategy from two aspects of innovation performance and financial performance.According to the above analysis,it is found that there are some problems in equity incentive of micro and medium companies under the differentiation strategy,such as single equity incentive mode,imperfect performance appraisal standard setting,single and extensive incentive object classification,and corresponding suggestions are put forward for setting targeted incentive mode,setting diversified appraisal index and improving talent management.Finally,it is concluded that micro and medium companies have obvious characteristics of implementing differentiation strategy.Under the influence of differentiation strategy,the company’s equity incentive plan has the characteristics of focusing on core technical personnel,wide incentive range and long incentive period,the size of incentive gap is affected by the governance structure,the technical team incentive gap is relatively large,and the target value of each index is medium difficult.All the elements of the company’s equity incentive plan are interrelated and synergistically promote the company to carry out independent innovation,breakthrough innovation and continuous innovation,and support the realization of its differentiation strategy.