YX Company Equity Incentive Case Study

Equity incentive as an incentive mechanism, as early as 50 years of the last century, the western countries have been widely used in corporate governance, to solve the problem caused by the Commission agent. Because of China’s capital market is not mature, and relevant laws and regulations is not perfect, making China’s equity incentive plan implementation of late,2005 equity division reform officially launched, more and more listed companies began to concern and the implementation of equity incentive plan, along with the equity incentive plan in China, and constantly promote and consequent problems also gradually increased.Under this background, this paper to YX company as the research object, select the YX company in 2006-2016 years two equity incentive plan in three case studies, and the problems arising in the case, combined with the related theory analysis, and puts forward suggestions, improve YX company in formulating the science and feasibility of the equity incentive plan. The specific framework is as follows:In this paper, the form of case analysis, through the three parts, focusing on the YX company’s two equity incentive plan. The first part of this paper is the case description. First, it introduces the background of YX company, and makes a simple analysis and description of the reasons for the two implementation of equity incentive and the two equity incentive process. Based on this, this paper focuses on the problems of YX company in the two equity incentive process, and the way of case introduction. The second part is the case analysis, combined with the principal-agent theory, human capital theory and incentive theory, for the first part of the YX company two equity incentive problems for analysis. The third part is the enlightenment and suggestions. Based on the above analysis, from the equity incentive object of incentive plan, incentive assessment criteria, of YX company equity incentive plan and the reasonable suggestions and countermeasures were put forward, hope of YX company in future equity incentive plan design can help, the same to other enterprises to implement equity incentive plan of the company to relevant aspects to enlightenment.This paper equity incentive theory as the support, of equity incentive plan in the implementation process in the presence of problems and solutions, with strong theoretical guidance to the practical significance, at the same time, through in-depth study and reflection is presented, and the practice of management measures, for other domestic implementation of the equity incentive plan of enterprise provides a strong reference value.