Research On The Motivation And Implementation Effect Of Supor Equity Incentive

In today’s increasingly fierce market competition,survival of the fittest,in order to better survive and develop in the industry competition in the industry competition,enterprises will improve their own strength through various means,so in this context,equity incentive will be adopted by more and more enterprises.However,many listed companies do not achieve the expected equity incentive,and even bring negative impact on the development of enterprises.This is mainly because the equity incentive plan of enterprises is unreasonable.Therefore,how to design the equity incentive plan according to the actual situation of enterprises and the industry,so as to improve the performance level of enterprises,and finally achieve the purpose of increasing the market value of enterprises has become the core problem of equity incentive research.Research of this thesis choose the Supor reason is that in 2006 the introduction of strategic investors SEB international investment,the great changes in ownership structure in the process of four equity incentive,and during the uninterrupted,becomes the main equity incentive of enterprises of our country,to say the equity incentive throughout the enterprise the important stage of development.The motivation of the implementation,the plan of implementation and the effect of the implementation of the four equity incentive plans vary at different levels.This thesis first introduces the specific situation of Supor’s fourth equity incentive plan,compares the difference of the fourth equity incentive plan,analyzes the motivation of equity incentive,and then analyzes the implementation effect of equity incentive,which can be divided into short-term effect and long-term effect.The short-term effect is mainly reflected by stock price changes and market reaction before and after the announcement of equity incentive plan.Long-term effects can be divided into financial effects and non-financial effects.Financial effects analyze the changes of profitability,debt paying,operation and development ability of enterprises before and after the implementation of equity incentive by comparing horizontally comparable companies,industries and vertical financial indicators,and summarize the financial impact of equity incentive on enterprises.The non-financial effect mainly starts from the motivation,analyzes the influence of equity incentive on the change of ownership structure,the influence on employees,the improvement of enterprise innovation ability and the influence on enterprise agency cost.Finally,summarize the successful experience of Supor and existing problems in the implementation of incitement to justice,submit relevant proposals and make conclusions: in terms of financial impact,Supor equity incentive to the enterprise profit ability promotion effect is more obvious,and the debt paying ability,operation ability and the ability of the development effect is not significant,and whether the enterprise is in control of the transition phase,can affect the equity incentive plan of the enterprise towards welfare nature or incentive properties,as well as the equity incentive effect to the promotion of corporate performance.The significance of this thesis is to combine case study to study the process,motivation and effect of Supor’s equity incentive implementation,study the advantages and problems of equity incentive scheme,so as to supplement the research on equity incentive of listed companies,and summarize the successful experience and existing problems of Supor’s equity incentive.It is greatly important to take measures to promote equality for companies that have the right to participate in the same industry or even in all sectors.