Research On The Current Situation And Influence Of The Equity Incentive Of The GEM Listed Companies

Equity incentives can effectively promote employees' enthusiasm for work and are an effective method for corporate governance.With regard to the implementation effect of equity incentives,different domestic and foreign scholars have different research results.China's GEM began to implement equity incentive plans in 2009.As equity incentive policies continue to improve,more and more high-tech and high-growth companies are listed on the GEM.With the continuous development of the company,the company attracts talents through equity incentives,thereby improving the company's operating performance.The GEM listed companies have continuously announced the equity incentive plan in light of their own development characteristics.Under such circumstances,how the listed companies of China's GEM companies implement equity incentives based on their own characteristics and whether the company's performance after the implementation of equity incentives has increased is worth focusing on.This article first discusses the related research results of equity incentives both at home and abroad from the theoretical and empirical aspects,and elaborates the model of equity incentives and related research theories,and the evaluation method of equity incentives,which further reveals the motivation of listed companies to implement equity incentives.Then,it analyzes the overall situation of equity incentives for companies listed on China's GEM,summarizes the regional distribution and industry distribution of equity incentives,and further explores the implementation of equity incentives from the perspective of program elements.Afterwards,a case study focused on the changes in the company's performance after the implementation of equity incentives by Handex,and the changes in the company's stock price after the implementation of equity.In order to be able to fully analyze the changes in the performance of the company after the implementation of the equity incentive plan by Handex,the paper compares and analyzes both vertical and horizontal aspects.From a vertical perspective,the company uses the financial index method to analyze the performance of the Hande Information Company.From a horizontal perspective,it adopts the economic value added method to analyze the implementation effect of the Hande Information and the equity incentives of the reference companies in the same industry.It is concluded that after the implementation of equity incentives by Handex,the company's performance has been improved,and equity incentives have played an active role in promoting the company's development.Secondly,the short-term stock price and long-term stock price after the implementation of equity incentive are analyzed,which further analyzes the market reaction of equity incentive.Finally,it evaluates the Hander Information Equity Incentive Scheme and puts forward some reasonable suggestions for improvement.Through the case study of the equity incentive plan of Hande Information Corporation,this paper concludes that the implementation of equity incentives can improve the company's operating performance,and the implementation of Hande Information Equity Incentives also brings some experience and inspiration to other companies that will implement equity incentives.