Analysis On Financial Effect Of Stock Ownership Incentive In Qibin Group

In the present modern enterprise system,in which many problems are exposed,the problem of principal-agent arising from the separation of management right and ownership is one of the problems that need to be solved urgently.Many large listed companies in our country now solve the principal-agent problem by implementing the equity incentive scheme.At the same time,the equity incentive will have obvious effect on promoting the development of enterprises,but whether the principal-agent problem can be solved effectively.The theory now developed does not give a satisfactory answer.As one of the main forms of equity incentive,restricted stock is used to solve complex principal-agent problems.Restricted stocks are capable of turning a company into a high-ranking company.The interests of reason are linked to the long-term development of the company.The long-term incentive effect of equity incentive can reduce the short-sighted behavior of senior managers and make the listed companies get the opportunity of long-term sustainable development.Although the stock right incentive of our country started relatively late,but it developed very rapidly,from the beginning of implementing the reform of the split share structure in our country,we formulated and issued a series of relevant laws and regulations.Make more and more enterprises to draw up and begin to implement equity incentive plan.From the beginning of equity incentive in China to the end of 2018,there are more than 3000 listed enterprises that have publicly issued and can implement the equity incentive scheme,we Through the study of the financial effects of equity incentive in listed companies,it can be seen that although many listed companies can fully promote the financial performance of the company through the implementation of the equity incentive system,but,There are still many deficiencies in the stock right incentive assessment condition system and the implementation of the equity incentive scheme in listed companies,which need to be improved.Even from the current practice of the company,it is obvious that the equity incentive effect of some enterprises is not obvious or even ineffective.Based on this,the restricted stock incentive scheme of the representative Qipin Group is selected to analyze the financial effect of the implementation of the equity incentive.Firstly,through reviewing the academic research of equity incentive at home and abroad,using the relevant theoretical knowledge and management means of financial management,the comparative analysis method and the literature research method are adopted.The financial index method and other methods and describes the specific two-phase equity incentive scheme of Qipin Group is very detailed and specific.Secondly,it applies the four major capabilities of enterprises in financial management,such as solvency,profitability,and several non-financial indicators,namely,market value and personnel liquidity analysis.Through horizontal and vertical comparison and analysis of the financial effect of Qipin Group before and after the implementation of equity incentive,the paper draws a conclusion that the equity incentive can promote the financial performance of Qipin Group.After that,Find out what other listed enterprises can refer to and the existing problems of the equity incentive scheme of Qibin Group,and finally put forward the corresponding improvement scheme for the specific problems of the implementation of the equity incentive scheme of the Qipin Group.For the future listed companies to implement the relevant equity incentive scheme to provide experience and reference.