Effect Of Stock Incentive Plan In High-tech Enterprises Study On The Analysis And Evaluation Of Implementation

Equity incentive is regarded as one of the effective ways to alleviate the principal-agent contradiction,prevent the short-sighted behavior of managers,and motivate managers and other employees at the same time.Similarly,when new and high technology enterprises are exploring the use of equity incentive,it is also found that it is worth further research and use in stimulating new and high technology enterprises to carry out R&D innovation and improve enterprise performance.This paper describes and analyzes the overall situation of high-tech listed companies implementing equity incentive plans,and the paper makes an in-depth study and analysis of the specific process,characteristics and implementation effect of the equity incentive plan implemented by Narada supply.On the one hand,the author hopes to analyze,evaluate and optimize the effect of equity incentive in Narada supply,On the other hand,it can combine the characteristics of high-tech enterprises to have a certain reference for the equity incentive of such enterprises.Through the analysis,after the implementation of equity incentive,Narada has a good impact on the company’s innovation ability,stability and talent team,it has played a positive role in financial performance to some extent,and however,due to the single set of exercise indicators and the short incentive period,the positive effect is relatively short and weak.This paper analyzes theThis paper firstly describes and analyzes the overall situation of China’s high-tech enterprises from 2009 to 2018 and some characteristics of China’s high-tech enterprises implementing the equity incentive plan.Furthermore,the case study of Narada supply is the research focus and center of this paper,takes four times of equity incentive of Narada supply as a case study.Firstly,the main contents and characteristics of the four equity incentive schemes are analyzed and compared in depth,and the implementation effect of equity incentive in Narada is evaluated from three dimensions of financial performance,innovation performance and short-term market response.According to the characteristics of equity incentive in the whole high-tech industry and the inspiration of Narada supply,the paper puts forward the advantages worth learning and the areas to be improved in its equity incentive plan,and then puts forward the applicable implementation Suggestions for high-tech enterprises.The innovation of this paper lies in the continuous tracking of the four equity incentive plans that have been implemented by Narada and are being implemented as of the writing date of this paper,in the part of financial performance analysis,EVA index is introduced to measure the enterprise’s value creation ability and evaluate the implementation effect of equity incentive from multiple aspects.short-term market reaction during the four equity incentive events of Narada,and finds that the market has a strong and sensitive reaction to the event at the beginning of the equity incentive,however,as Narada failed to reach the exercise index for many times,the market reaction gradually lost confidence.Based on the above summary of the characteristics of the incentive scheme for high-tech enterprises and the case study of Narada supply,the Suggestions for improvement are given.And based on the above research,some suggestions and inspirations for high and new technology enterprises to use equity incentive method are extracted...