Tracking Research On Incentive Performance Of Restricted Stock In Gem BIM Industry

Gem is an important supplement to the main board,which covers high-tech small and medium-sized enterprises and entrepreneurial enterprises.Construction industry is the industry that needs information technology and big data most in China.The combination of Internet and BIM Technology is the trend of the construction industry in the future.Therefore,the construction industry can be divided into traditional construction industry and BIM industry.The listed companies in gem industry are basically innovative enterprises in the later stage of growth.Implementing equity incentive plan and binding employees’ interests with the company can fully stimulate the creativity and enthusiasm of employees,thus promoting the rapid development of enterprises.In 2019,the equity incentive degree of gem was the second,with 119 announcements,accounting for 35.31%of the total number of announcements.In the same year,the industry with the largest number of announcement numbers of equity incentive plans of Listed Companies in A-share market was still manufacturing industry,but information transmission,software and information technology services were second only to manufacturing industry,and 31 equity incentive announcements were issued,accounting for 9.20%,which is the second largest business to promote equity incentive business.From the perspective of the form of equity incentive,the restricted stock incentive in A-share market in 2019 is 58.75%,the stock option is 26.11%,and the composite incentive tool is 15.13%,and the restricted stock incentive ranks first.The target company of this paper belongs to the building information technology service industry of GEM COMPANY(hereinafter referred to as BIM industry),which has a high degree of overlap with the software service industry.Equity incentive is popular in this industry,but because the growth period is short,many companies can not grasp the law of equity incentive,and they are in urgent need of retaining talents and improving performance through equity incentive.Therefore,on the basis of the predecessors,this paper compares the implementation of restricted stock incentive between Yinxin technology and K Company by looking for two control groups,one is a similar scale company in the same industry-Beijing Yinxin long term Technology Co.,Ltd.(hereinafter referred to as Yinxin Technology),the other is a leading company in the same industry-Guang Lianda Technology Co.,Ltd.(hereinafter referred to as Guanglianda)This paper analyzes whether equity incentive can improve the company’s performance.If the incentive effect is not the same,why is there such a difference? Because the industry environment and scale characteristics of K Company and Yinxin technology are very similar,we can use Yinxin technology to implement equity incentive twice to establish a linear regression model to predict the next performance of K company,and then learn from Yinxin technology to find out the shortcomings of K Company in the equity incentive scheme.However,the conclusion drawn from this comparison is: whether the equity incentive scheme can improve the company’s performance,if not,why it can not achieve the expected effect,and how to design,etc.are not comprehensive.Obviously,the two companies are generally operated,the scale is general,and the equity incentive effect is not prominent.Moreover,the performance of K Company is very poor,and the comparison is lack of research It will lose the significance of this study,that is,it is difficult to provide reference for the restricted stock incentive of similar companies in gem.Therefore,the author compares the equity incentive scheme of Guanglianda again,analyzes its impact on the company’s performance,and then tries to study the whole process from the motivation before the implementation of the restricted stock incentive scheme to the long-term effect after the implementation,to study whether the timing of equity incentive is appropriate,whether the content of the incentive scheme is lack,and how to learn from the advantages of the leading enterprise scheme.BIM industry,the industry studied in this paper,has a good development prospect.In the era of big data,the transformation and upgrading of the construction industry is imminent.It also conforms to the trend.The leading enterprise Guanglianda is leading the transformation and upgrading of the construction industry.Small and medium-sized enterprises K Company and Yinxin technology are also actively carrying out strategic transformation to cater to the "14th five year plan".Restrictive stock incentive is an important way to retain human resources Therefore,it is particularly important to study the impact of restricted stock incentive on the performance of enterprises,whether they are implementing the incentive scheme,or have completed or started the second or multiple incentive.This paper mainly studies the first equity incentive of the target company,because the first issuing right incentive plan can better reflect the market reaction of equity incentive and highlight the performance effect,so as to draw a conclusion: the restricted stock incentive can indeed improve the performance of GEM companies,and the design of the restricted stock incentive scheme should consider the class of shares besides the company’s own situation Similar to the design scheme of the company and the leading company,they are comparable and typical.In addition,the company should also pay attention to the timing of the implementation of restricted stock incentive,not necessarily when the company is developing well,but also when the profitability is uncertain relative to the long-term growth prospects and the stability of core talents needs to be maintained,in the pursuit of relevant diversification strategy of the company.