Research On Equity Incentive Of Qinhuangdao Port Company Limited

As an effective enterprise management system,equity incentive can unify the interests of owners and operators,preventing the operators short-term behavior in the course of business operation and making corporations to keep far-existed and fixed advancement.With the expanding scale of ports in Bohai rim and the increasing number of port operators,competition among ports is becoming increasingly fierce.Traditional port logistics enterprises are faced with how to give full play to the enthusiasm of employees and to motivate core personnel to fulfill their duties and responsibilities.Qinhuangdao Co.,Ltd.which is surported by the over a hundred years' old Qinhuangdao Port has achieved the goal of oporating beyound port districts in Bohai-rim.It is not only a traditional logistic enterprise but also a state-owned A&H share listing company,so the representativeness is significant.This article aims to find the incentive disadvantages and the employees' wishes to incentive by analysing the incentive situation of Qinhuangdao Port Co.,Ltd.Then the company will build a long-term incentive system with the equity incentive core,under the relevant law and principles.Firstly,on the basis of explaining the background and importance of the topic,this paper studies the main attitude in-land and over-seas,understands the current research trends and shortcomings of equity incentives,and then establishes the content and research methods of this paper according to the basic situation of QHDP.Secondly,by expounding the relevant theoretical basis of equity incentive,we find that the core of realizing the value of equity incentive lies in eliminating the "moral hazard" between shareholders and managers in the principal-agent system.With the help of property rights theory,human capital theory and incomplete contract theory,we establish the idea of binding the interests of the two parties to play a role.The idea of maximizing the utility of human capital,and then through the management incentive theory to establish the incentive scheme in the design of performance conditions.Thirdly,Find the reasons for the defects of the company's current compensation incentive effect,through the analysis and study of the status quo and expectation of share-based compensation incentive in QHDP.Using equity to bind the interests between the owner and the operator of the enterprise to strengthen the incentive role for employees.This paper mainly adopts the form of questionnaire and interview,combining theory with practice,and establishes a complete set of equity incentive scheme from the aspects of incentive mode,incentive object scope,stock nature,stock source,stock quantity,distribution principle and exercise conditionsFinally,by straightening out the organizational structure and responsibilities,formulate a sound management and assessment mechanism,smooth communication channels and professional training,etc.to ensure the equity incentive plan is guaranteed.The design of equity incentive scheme is of guiding significance to QHDP,which is conducive to the improvement of incentive mechanism,the promotion of company performance and the realization of long-term stable development of the company.