An Empirical Research On Equity-based Incentive Of Listed Companies: Take The Wanke For Example

A successful enterprise, will get a faultless management system, through the efficacious management of the management personnel and the technical personnel to ensure the relative stability of these employees, meanwhile, if the companies want to take a long-term development, in addition to the management system, it should also establish a perfect viable incentive system and a restraint mechanisms, by way of incentives to stimulate corporate staff enthusiasm for the work to achieve the purpose that the enterprise and the employees win-win. It can be seen, the management system and incentive system will also be an important part of the enterprise system.In recent decades, new institutional economics and management are committing to the study of enterprise incentive system, making it as a mainstream school of contemporary economics. Management incentive theory is from the "intimidation and punishment" to "reward" to "reward in work" in a step by step way, and gradually formed a research system which take the" incentive characteristics" as the core. Equity and option incentive is a longer period and most effective incentive mechanism in many incentive and restraint mechanisms. To Implement the equity and options incentives, on the one hand, we not only need a careful planning, but also need to base on the long-term development planning of the enterprise, on the other hand, we not only reach to the purpose of stabilize and motivate the employees, but also emphasize the environment and create incentives to induce self-motivation.At present, there are many companies have adopted the equity incentive, and many private companies are taking part in, but because of some companies did not establish the corporate culture, did not pay attention to the detailed planning of the operating program and the details of the operating, the supporting measures are relative backwardness, and are lack of organizational incentives and related constraints, all of those are leading the slack to the team work of the management and technical backbone, and the lack of consensus, and can not take account the common good of the relationships between employees and incentive objects, those effect on the emotions of employees at work adversely, and seriously hampered the development of enterprises.Therefore, the prerequisite of an implementation of a enterprise incentive system is fully study for China’s market environment, equity incentive and restraint mechanisms of the relevant provisions, the securities market, the target and the system of the enterprise, the enterprise development, human resources, enterprise management mechanism and so on, through argumentation analysis to determine the final choice of comparison for the enterprise’s own equity incentive model, and equipped with the appropriate management measures, monitoring measures, intensify supervision, protect the legitimate interests of shareholders and incentive objects, and to accomplish the goals of the motivation and stability of the corporate staff and the enterprise development strategic.In summary, this paper will take the listed company’s point as a starting point, through the discussion of the basic theory of equity incentive, the analysis of equity incentive model, the research of the preparatory work of the equity incentive, to explore the characteristics of equity incentive in China’s enterprises, to analyze the advantages and disadvantages of the implementation of equity incentive by examples, and sum up the inspired and existing problems, in the hope of play a learning effect, for China’s listed companies equity incentive.