Baosteel Stock Right Incentive Scheme And Its Implementation Effect Evaluation

In the context of knowledge economy,the company attaches more and more importance to the role of talents for enterprises,hoping to maximize the effectiveness of human resources and create more value for the company.Equity incentive is a modern management mode,which can effectively motivate talents,and has been widely used in enterprises.Restricted by policy,the progress of state-owned enterprises' equity incentive is relatively slow.The continuous improvement of the current system and the further deepening of the reform of state-owned enterprises have promoted the state-owned enterprises to choose equity incentive to establish an effective incentive and restraint mechanism.Baosteel stock is one of the representatives.The stock incentive of Baosteel has been developed to the second stage,and its experience can be used for reference by state-owned enterprises.This paper combs the literature and basic theories about equity incentive,and analyzes the equity incentive theory.On this basis,the basic situation of Baosteel stock,the scheme design of two stages of equity incentive,and the progress of implementation of equity incentive are introduced.Then,the motivation of the company to implement equity incentive is analyzed from the internal and external perspective,and then the rationality of the two phase equity incentive scheme is analyzed and the evaluation is made.Then,the paper studies the effect of equity incentive,and studies it from the market and enterprise perspective.The market perspective analyzes the investor's response to the company's equity incentive,and the enterprise analyzes the impact of equity incentive on personnel retention,technological innovation,cost control and financial performance,and finally draws conclusions,inspiration and future research directions.The research finds that the two phase plan design of the company is in line with the strategic positioning and reasonable,especially the selection of performance indicators is creative,but both phases of the scheme can be improved.The market has made positive response to both stages of equity incentive;The first stage of equity incentive does not play a role in stabilizing the incentive object,while the second stage plays a corresponding role;During the two-stage equity incentive period,the company's technological innovation ability is enhanced,the cost control is improved,and the profitability of the company has improved,but the growth ability is not outstanding in the second incentive.Overall,during the equity incentive,the enterprise creates value for shareholders.