Research On The Influence Of Equity Incentive Of Yonyou Network On Corporate Performance

The separation of ownership and management is an important problem faced by modern enterprises.Due to the inconsistency of interests between controlling shareholders and managers,the principal-agent problem arises.Therefore,the principal-agent problem has always been an important concern of enterprises.Thus,the equity incentive mechanism comes into being,which is an important way to solve the principal-agent problem.The equity incentive mechanism makes the interests of the controlling shareholders and the business operators tend to be consistent,and makes the business managers think about how to maximize the enterprise value from the perspective of the controlling shareholders.Therefore,how to establish a sound and effective equity incentive mechanism has become an important issue for modern enterprises to explore.In this paper,yonyou network,which has implemented four equity incentive plans from 2006 to 2017,is selected as the research object.First of all,this paper introduces the main body yonyou network from the general situation of the enterprise and analyzes the reasons for its use of equity incentive.Then the contrast the uf network four times in the equity incentive plan,incentive object,number of incentives,incentives,exercise conditions,such as equity incentive factors,then the implementation of equity incentive of ufida networks to analyze the influence of corporate performance,with its 2006 to 2017 financial data for the tool,from the aspects of financial performance to analyze the friend network four equity incentive on the impact of the financial performance;At the same time,it analyzes the influence of stock price on market data,explores the influence of equity incentive of yonyou network on non-financial performance from the aspects of personnel mobility and corporate governance structure,and puts forward some Suggestions.This paper analyzes from six aspects in total.Firstly,it introduces the research background,significance,content and methods of this paper,summarizes the domestic and foreign references,and then introduces the innovation points of this paper.Chapter two mainly introduces the concept and theoretical basis of equity incentive.The third chapter takes "yonyou network" as an example to introduce the company’s general situation,the motivation of the implementation of equity incentive and the comparison of four equity incentive schemes.The fourth chapter introduces the influence mechanism of equity incentive on corporate performance.The fifth chapter analyzes and evaluates the performance of yonyou network after implementing equity incentive from financial and non-financial indicators.The last chapter is research conclusion and enlightenment.