Research On Innovation Performance Evaluation Of Fiber Home From The Perspective Of Equity Incentive

The report of the 19 th CPC National Congress and the Fourth Plenary Session of the 19 th CPC Central Committee pointed out that technological innovation is the leading force and core driving force of China's modernization process.In the context of innovation-driven development,innovation is the inexhaustible power of national development and the soul of national progress.It is also the primary driving force for companies to enhance their core competitiveness,and the necessary for the development of the times to give full play to the enthusiasm and creativity of the core staff to promote the scientific and technological innovation of enterprises.In modern enterprises,due to the existence of the principal-agent problem,managers tend to avoid risks and pursue their own maximized interests,and take a negative wait-and-see attitude toward high-risk,high-input,and long-term investment innovation activities.Especially for high-tech enterprises,the reduction of investment in innovation activities is likely to cause the loss of core employees and weaken their enthusiasm for work.In the long run,it will reduce the company's ability to innovate,which is not conducive to the sustainable development of the company.In order to effectively reduce the proxy problem and improve innovation performance,more and more high-tech companies are implementing equity incentives,but how to design an effective and reasonable program to motivate executives and core technical staff to achieve more efficient innovation performance after the corporate identity transformation of the transformation of the results is still a pressing problem.This paper uses a combination of theory and case analysis.Sort out related literatures and theories to provide a more comprehensive theoretical support for research.This paper takes the leader in the communication equipment industry and the third phase of the Fiberhome equity incentive plan held by the state-owned enterprise as the research object.The impact of equity incentives on changes in the behavior of executives and core technical personnel and tax incentives affects the innovation performance evaluation system.The three stages of production and output are evaluated through comparative analysis and related financial indicator analysis.The results obtained are as follows: first,equity incentives will motivate executives to pay more attention to R & D investment and increase innovation activities;second,When increasing the incentives for core technical personnel,innovation output such as patents will also increase.Third,the improvement of innovation capabilities has not only enabled companies to rapidly increase their operating income,industry visibility,and market share,but has also increased their long-term value.The research in this paper proves that the implementation of equity incentives can alleviate the principal-agent problem of Fiberhome,maintain the stability of the core team,reduce short-sighted behavior,and improve innovation performance.This paper proposes the following recommendations for high-tech companies to implement equity incentives: implementing equity incentive companies should set corresponding assessment criteria according to their own development characteristics and incentive targets,exercise conditions should be more closely integrated with innovation capabilities,and effectively use the national tax incentives incentive core Technicians' enthusiasm for innovation,improve relevant laws and regulations,improve the truthfulness of the disclosure of equity incentive information,and accelerate the output of results that promote innovation performance.It provides a certain reference value for high-tech enterprises planning to implement equity incentives in order to improve innovation performance.