Research On Implementation Effect Evaluation And Optimization Of Equity Incentive Scheme In GAC Group

At first,enterprises used equity incentive as a reasonable means of tax avoidance.After its implementation,many enterprises found that equity incentive can effectively improve employees’ work enthusiasm,so equity incentive has been favored by a large number of companies.China first adopted equity incentive in the1990 s,but due to the lack of relevant implementation experience and perfect policy guidance,it is difficult to achieve the expected effect in the implementation process.Until the issuance of relevant management measures for equity incentive in 2006,domestic listed companies gradually paid attention to this incentive means.In the following ten years,the relevant laws and policies of equity incentive have been continuously improved,and more and more listed companies are keen to implement equity incentive.How to effectively motivate employees and improve performance has become the focus of equity incentive in enterprises and the focus of discussion with scholars.This paper studies the two equity incentives of GAC group by using the methods of literature analysis and case analysis.Firstly,it combs the existing research literature of scholars at home and abroad,introduces and summarizes the motivation,scheme design and implementation effect of equity incentive,and determines the direction and method of evaluating the implementation effect of equity incentive scheme.Secondly,it summarizes the enterprise background and the implementation background of equity incentive scheme of GAC group.GAC group has a high industry and market position.In recent years,the environment of China’s automobile manufacturing industry is complex and full of opportunities and challenges,which leads to the motivation of GAC group to implement equity incentive.Thirdly,this paper introduces and compares the two equity incentive schemes of GAC group,selects the relevant data of GAC group and automobile manufacturing industry from 2013 to 2020,analyzes the financial performance,non-financial performance and market response before and after the implementation of the scheme,and evaluates the implementation effect of equity incentive.The study found that on the whole,the equity incentive scheme of GAC group has achieved good implementation results in many aspects;During the overlapping period of the two equity incentive schemes,the implementation effect of the scheme is the best;The implementation effect of the first equity incentive is better than that of the second equity incentive.Finally,this paper summarizes the advantages and disadvantages in the design and implementation of equity incentive scheme of GAC group,and puts forward relevant optimization suggestions.It is hoped that the research of this paper can provide experience for enterprises in automobile manufacturing industry and bring reference for other enterprises who want to implement equity incentive plan.