Research On The Innovative Performance Evaluation Of Equity Incentives Of Sci-Tech Innovation Board Enterprises

The Science and Technology Innovation Board(STAR)is mainly for science and technology innovative enterprises that master key core technologies and match national strategies.The fundamental task of STAR enterprises is to reap the benefits of innovation by conducting technological research and development.As a result,STAR enterprises place higher demands on talents and innovative technologies.The equity incentive scheme of STAR enterprises has become an important way to promote management and core technical personnel to invest in technology research and development and product innovation,and it becomes important to guide STAR enterprises to improve their technological innovation capability through equity incentive performance evaluation.The current performance evaluation system of equity incentive of STAR enterprises focuses on the financial performance of enterprises,but lacks the evaluation of the innovation performance of enterprises;in addition,the research objects of equity incentive are mostly the executives of enterprises,and less research is conducted on the core technical personnel.Therefore,this paper constructs an evaluation system for the innovation performance of equity incentive of STAR enterprises and selects representative case enterprises to conduct a detailed study to explore the impact of STAR equity incentive plan on the innovation performance of enterprises,which has certain theoretical and practical significance.This paper explores the impact of equity incentive plans implemented by STAR enterprises on the innovation performance of enterprises by constructing an innovation performance evaluation system of equity incentives of STAR enterprises and applying the case study method and fuzzy comprehensive evaluation method,using principal-agent theory,human capital theory and incentive theory.The main research content of this paper is: based on relevant concepts and theories,a brief introduction to the equity incentive situation of the STAR enterprises,the mechanism of the influence of equity incentive on the innovation performance of STAR enterprises and the existing problems of innovation performance evaluation is presented.The evaluation system of innovation performance of equity incentive of STAR enterprises is then constructed,dividing the evaluation indexes into innovation input dimension,innovation output dimension,innovation growth dimension and innovation guarantee dimension;assigning weights according to entropy value method and hierarchical analysis method,and constructing an evaluation model of innovation performance of equity incentive of STAR enterprises.Subsequently,the case study of Espressif Systems(Shanghai)Co.,Ltd.(Espressif Systems)is used to verify the feasibility of the constructed evaluation system of innovation performance of equity incentive of science and technology innovation board enterprises,and the detailed analysis and evaluation of each level and specific index of the innovation performance of equity incentive of Espressif Systems is obtained.And based on this,corresponding improvement measures are proposed for how to set the equity incentive performance terms to improve the innovation performance of the science and technology innovation board enterprises.The study finds that the high proportion of innovation output dimension in the evaluation index system of equity incentive innovation performance of STAR,and the low innovation technology conversion rate and insufficient innovation incentive continuity are the aspects of equity incentive innovation performance of STAR enterprises that deserve attention.This paper constructs a reasonable innovation performance evaluation system of equity incentive for STAR enterprises,and improves the innovation performance evaluation indexes and evaluation methods in view of the characteristics of equity incentive of STAR.At the same time,the innovation performance evaluation system of equity incentive for STAR enterprises constructed in this paper can more accurately evaluate the innovation performance of STAR enterprises after the implementation of the equity incentive plan,and help STAR enterprises discover the shortcomings of their equity incentive plans,so as to achieve the long-term sustainable development of STAR enterprises.