Study On Equity Incentive Of GEM Listed Company

With the continuous expansion of business scale, the separation of ownership and management rights, the interests of owners and operators of the demands of differences inevitably lead agency problem. Equity incentive by granting equity managers in a given period, to give business owners a certain economic rights, enabling them to participate in corporate decision-making capacity as shareholders ?profit-sharing, equity and enjoy value-added benefits, and to some extent to take some risks, It can make managers more concerned about balancing short-term interests of the company and long-term development in the course of business, due diligence to realize sustainable, balanced and healthy development of an incentive method. Equity incentive will combine the interests of shareholders and managers can effectively solve the agency problem.In this paper, the case of listed companies analysis method first GEM equity incentive- the Pathfinder equity incentive plan, implementation effect research. Focus on two equity incentive plan Pathfinder comparative analysis, analysis of legitimacy and legality Pathfinder equity incentive plan by elements, and performance analysis of both the effects of the implementation of equity incentive plan after the financial performance and market. The results show that the company through equity incentive Pathfinder way enhance the core business and the management team's cohesion, promote the rapid development of the company's performance.Combined with Pathfinder's own situation in our country is not perfect capital market environment in the form of case studies to study the impact on listed equity incentive companies, hoping to provide a reference implementation of rigorous comprehensive, reasonable and effective equity incentive program for the listed companies.