Research On Optimization Of Equity Incentive Scheme Of Ganfeng Lithium

Equity incentive is of great significance to solve the principal-agent problem of enterprises.If properly used,it can effectively reduce the agency cost,fully mobilize the motivation of the incentive object,but also help to enhance their sense of responsibility,and restrict their short-term business behavior.In today’s talent competition increasingly fierce trend,more and more enterprises carry out equity incentive plan,but the effect of equity incentive is quite different.This paper chooses Ganfeng Lithium Co.,LTD.,the leading lithium company,as the research object,to study the problems and shortcomings of its equity incentive scheme from the perspective of analyzing the implementation effect of equity incentive.First of all,in the relevant theories and literature review,the relevant concepts of equity incentive are expounded,the relevant theories and mechanism of equity incentive are analyzed,and the research status of equity incentive motivation,object and effect at home and abroad are reviewed.Secondly,on the basis of comparative analysis of the specific design factors of the two equity incentive plans of Ganfeng Lithium,the case analysis method and comparative analysis method are used from two dimensions of horizontal comparison of industry performance and vertical comparison of historical performance.This paper analyzes the changes of Ganfeng Lithium in four aspects:the overall operating performance,the innovation ability of R&D personnel,the construction of talent team,and the response of market investors,in order to evaluate the implementation effect of equity incentive.Then the conclusion is drawn: The two equity incentives of Ganfeng Lithium have certain positive effects on the company’s profitability and growth capacity,innovation input and output capacity of research and development personnel,but have negative effects on the operating capacity and debt paying capacity,and talent team construction.At the same time,from the reaction of investors,the market is more favorable to the first equity incentive of Ganfeng Lithium.And the launch of the second equity incentive does not hold obvious optimistic mood.Finally,according to the deficiencies in scheme design and implementation effect,this paper puts forward corresponding optimization design for the normalized implementation of subsequent incentive plan of Ganfeng Lithium from four aspects: incentive mode,incentive object structure distribution,incentive exercise index and waiting period,so as to make the equity incentive plan more consistent with the company’s incentive demand.Different from previous equity incentive plans are: On the basis of summarizing the current experience and practice,this paper designs a scheme including two incentive tools,two exercise indicators and two exercise waiting periods,which are suitable for managers and core employees respectively.At the same time,a detailed quantitative design is carried out to determine the share of equity incentive,so as to provide reference ideas for the improvement of equity incentive schemes.It has certain practical value and practical significance.