| With the rapid development of the market economy,in order to adapt to the development of the society and itself,enterprises will hire professional managers for management.This phenomenon has exacerbated the agency problem between owners and managers.In order to solve this problem,the equity incentive system emerged.This system allows owners and managers to share risks and benefits,so many companies have begun to implement equity incentives.Haier Smart Home is a leading enterprise in my country’s home appliance industry.Since its establishment,it has adjusted its strategic layout by grasping the characteristics of each era.Now it has become a leader in the global home appliance industry and a leader in global smart home solutions.Therefore,this article selects Haier Smart As a case company,we will study the effect of implementing dynamic equity incentives.This article mainly uses case analysis to study the equity incentives of Haier smart home.During 2009-2017,Haier smart home implemented a total of three phases of stock equity and one phase of mixed equity incentive plans,and established senior management and core employees in the company.Equity structure and incentives and constraints with the same interests of employees and all shareholders.This article divides the research content into five parts: the first chapter is the introduction chapter.First,it introduces the relevant research background of this topic;secondly,it elaborates on the theory and concept of equity incentive;and then introduces the general situation of Haier smart home Enterprise.It also summarizes the reasons and operation process of the company’s implementation of equity incentives;the next part is the main part of this article,from the perspectives of financial performance and non-financial performance,and using the event research method to study the effectiveness of Haier smart home’s implementation of equity incentives.,The fifth part is the conclusion and enlightenment.After research in this article,it is found that Haier smart home ’ s four-phase dynamic equity incentive has selected the appropriate time point,reasonable incentive objects and scope,and set a reasonable validity period.However,there are still incomplete performance evaluation index systems and excessive incentive methods in the implementation.There are problems such as singleness and excessive performance indicators.Therefore,Haier smart home should improve the performance evaluation indicator system,adopt diversified incentive methods and set reasonable performance indicators,and adjust the equity incentive plan regularly in accordance with the actual situation.Through the research of this article,it is concluded that Haier smart home has the advantages and disadvantages of the four consecutive dynamic equity incentives.Based on the above analysis,it puts forward targeted suggestions to provide references for enterprises in the same industry. |
