Research On Equity Incentive Of GEM S Internet Financial Information Service Company

The principal-agent problem caused by the separation of ownership and management of modern companies has always been the focus of corporate governance.The traditional employee incentive model is mainly composed of basic salary and performance bonus.This model cannot motivate employees and restrain them at the same time,and it is easy to cause short-term behavior of managers.In order to improve the limitations of the traditional incentive model,equity incentive is born.Equity incentive is different from the traditional way of pay,it must by to the company managers,will be their "bundling" effectively with the interests of the company,the company professional manager has become the company's "master",enhance their sense of belonging in the enterprise,in the incentives can effectively give constraints,while for the company's long-term development.2009 entrepreneurial officially on board in our country,has attracted many high technology center type enterprise,the enterprise scale is not large,and are dependent on knowledge and intelligence drives the development of emerging enterprises,so for the core technology talented person's demand degree is very high,therefore also has all kinds of the gem listed company equity incentive.However,due to the relatively late introduction of equity incentive in China,the gem market in China has just started,and the market is not stable.Many companies have problems in the implementation of equity incentive.S company was successfully listed in the initial stage of gem,and its industry is Internet financial information service industry,which is an emerging industry derived from the rapid development of China's Internet.As the "leader" of the comprehensive strength in the same industry,in terms of talent incentive,the company has also launched two periods of equity incentive to become the "pioneer" of the implementation of equity incentive in the sa me name.This paper selects S company as the research object,hoping to find out the problems existing in the implementation of equity incentive in chinext through the case analysis of S company's equity incentive,and to find out what special difficulties will be encountered in the implementation of equity incentive in such a new industry as Internet financial information service.The content of this paper is divided into five parts.The first part is the introduction,which summarizes the research conclusions of domestic and foreign scholars,and roughly introduces the research ideas and methods of this paper.The second part describes the definition and characteristics of Internet financial information service industry where gem and S companies are located,and at the same time,parameters of relevant concepts and theoretical basis of equity incentive are carried out.Then the third part begins to introduce the company profile of S Internet financial service companies which are representative of gem and the implementation of specific equity incentive cases.Then the fourth part analyzes the implementation effect of S company's equity incentive from multiple perspectives,including the company's financial effect,the company's stock price and the situation of employees,so as to find out the problems in the implementation process of S company's equity incentive.Finally,combining the industry characteristics of S company,this paper proposes optimization Suggestions for the specific problems of S company.It is hoped that the case study of S company can be helpful to improve the equity incentive mechanism of gem and provide reference for companies in the same industry that plan to implement equity incentive.