Research On The Implementation Effect Of Chinanetcenter Equity Incentive Scheme

Since 2000,the scale of high-tech private enterprises has been increasing,so it is very important to create a good market environment for these enterprises.As one of the leading industries in the domestic CDN industry,the pursuit of high-tech is particularly urgent.To this end,core technical personnel,scientific research input,patent level,market share and so on become its winning weapon.To maximize the ability and level of its employees,the company has been implementing equity incentives a year after it went public in 2009.Because equity incentives are seen to be able to retain talent and attract talent To reduce the principal-agent cost by promoting the convergence of the interests of employees and owners,so that the managers of the company can avoid making profit and thus harm the long-term interests of the company.Although it has been practiced for many years,there are still many problems in the implementation of equity incentive.Therefore,it is of great practical significance to study the problems related to the equity incentive of net-lodging technology.Through the study of domestic and foreign literature and related theoretical basis,this paper studies the effect of the implementation of the equity incentive of NetSci-tech.First of all,from the background of the implementation of equity incentive in high-tech enterprises,this paper draws a conclusion that it is imperative to carry out equity incentive in NST,and makes an analysis and research on the specific exercise scheme of the company.Then through the induction and summary of each period of equity incentive scheme,this paper analyzes and compares the influence of each period equity incentive on different aspects of net-house science and technology,which are: operating effect,human capital,R & D investment,agency cost and market reaction.Through the analysis,it can be seen that the first and second phase stocks of NetHugh Technology The effect of power incentive is remarkable,but the effect of equity incentive in the third and fourth periods is weaker than that in the previous two periods,and it does not play a long-term incentive effect.For example,the implementation of equity incentive in the previous two periods mainly in the profitability,growth ability,R & D input and R & D output than before the implementation of equity incentives have significantly improved,the cost of human resources,management costs and so on.Compared with the previous two periods,the implementation effect of the last two periods has been weakened,mainly manifested in the slowing down of growth and profitability,the decrease of R & D input and output,the increase of manpower cost,the increase of management cost,and so on.The reason isthat Because the performance appraisal condition is loose,the appraisal index is single,the incentive period is too short and so on,aiming at these problems,this paper puts forward some suggestions on the optimization of the equity incentive scheme: optimize the choice of the stock incentive object,optimize the incentive intensity to the senior executives,and so on.Perfect the exercise conditions of the equity incentive,and extend the period of validity of the incentive.