Research On Equity Incentive Design Of X State-owned Holding Comprehensive Energy Listed Company

Equity incentive as an important means to promote the development of enterprises and enhance the vitality of enterprises has been widely used in the world,equity incentive measures are gradually mature,showing a diversified development pattern.From the policy in 2006 to June 30,2019,only 5.81% of the 1,790 equity incentive schemes in the two cities involved state-owned holding listed companies,which showed an unusually slow development.To rectify the causes,the main constraints are on the balance between incentive intention and the protection of state-owned assets.Then,in terms of the design of the equity incentive plan itself,how to demonstrate the effectiveness of the equity incentive plan to the enterprise is much greater than the benefits enjoyed by the incentive object through the demonstration and establishment of various elements,which has become a big breakthrough for the proposal from the bottom up.X state-owned holding comprehensive energy listed company(hereinafter referred to as "X company")has been listed on the main board for more than 15 years since 2004.However,through analysis of its publicly disclosed economic data,it can be seen that its development is quite slow.Equity incentive,as an important management measure to reduce agency cost and enhance enterprise vitality,has naturally become one of the effective means to solve the development dilemma of X company.This paper first analyzes the motivation and conditions for X company to implement equity incentive,and establishes the current situation of X company and subsequent supplementary measures.Then the paper X company equity incentive plan design construction and related elements,respectively from the selection,incentive mode choice of object,incentive stock sources involved,incentives granted to determine price,design of incentive stock quantity,incentive restrictive conditions were determined,incentive cost involved and the X company equity incentive scheme utility measurement is discussed in detail,such as in combination with the practical situation of X company,summed up the X company equity incentive plan,also for the subsequent other enterprise equity incentive plan design provides referential.