Study On The Effect And Influencing Factors Of Equity Incentive

Equity incentive is a kind of long-term incentive mechanism to solve the principal-agent problem of the enterprise,this measure has been recognized in the motherboard market,the market is also in the new board of the implementation of equity incentive system is more and more listed companies.So,whether the equity incentive system in the new three board market should have the incentive effect,listed companies choose equity incentive depends on what factors,which remains to be tested.In this context,this paper studies the effectiveness of the new three board listed companies to implement equity incentive and influencing factors,to test the effectiveness of equity incentive in the new three board market.In this paper,the new board in the implementation of equity incentive of listed companies as the research object,through correlation analysis,factor analysis,simultaneous equations and logit regression analysis,probit regression analysis to test the implementation of equity incentive effect.The research ideas are as follows: 1.Firstly,it describes the research background and research significance of the implementation of equity incentive in the new three-board market,and establishes an empirical model suitable for the characteristics of listed enterprises under the premise of clear background and significance.2.This paper reviews the classical literature of the relationship between equity incentive and corporate performance and the influencing factors of equity incentive,and analyzes the advantages and disadvantages of its research method,which lays the foundation for studying the implementation effect and influencing factors of the three-board equity incentive.3.The relevant theories of equity incentive are described in detail,and the understanding of equity incentive is deepened.4.This paper introduces the development of the new three-board market,analyzes the present situation of the equity incentive and the performance and change of the enterprise after the implementation of the equity incentive.Through the statistical analysis,it is found that the equity incentive system has played an important role in the new three-board market.The development of the new three-board market also provides a lot of possibilities for the equity incentivesystem.At the same time,also found that the implementation of equity incentive system after the enterprise's performance had a positive impact.5.The empirical study on the effect of equity incentive of listed companies is carried out.Based on the analysis of listed companies' sample data,it is concluded that there is a positive correlation between equity incentive and corporate performance,and the effect of equity incentive level on corporate performance under different equity incentive modes The performance level of the company,the concentration of ownership and the nature of the largest shareholder are significant in relation to whether or not the equity incentive is exercised.6.Summarize the research results,and how to further regulate the governance structure of listed companies put forward countermeasures and suggestions.This paper argues that the equity incentive system has played a positive role in the new three-board market,and encourages and guides the listed enterprises to implement the equity incentive system.Mainly through the improvement of relevant laws and regulations,to increase the proportion of equity incentive and improve the governance structure and other measures to play a more important role in equity incentives.