Aier Ophthalmology Diversified Equity Incentive Case Study

With the development of modern enterprises,the conflict of interest caused by the separation of ownership and management rights has become an urgent issue for corporate governance.With the advent of the information age and the expansion of the market size,human capital has also become the core of corporate competitiveness.Talent is also crucial to the development of the company,and the emergence of equity incentives effectively avoids the short-sighted behavior of executives,properly reduces the shortcomings of the principal-agent model,improves the company’s governance structure,and at the same time,the employees’ target benefits Agreeing with the interests of the company mobilized the enthusiasm of employees and attracted talents through incentive and restraint mechanisms.China’s equity incentive system started relatively late,both in the external environment and internal management,and it is still in the exploration stage.After long-term practice in Western countries,it has mature market mechanisms,and the relevant theories and experience are relatively rich.With the reform of separation,China’s equity incentive system has only entered a period of continuous development.However,the problems in the implementation process are endless.Different industries are different in the nature of their industries and governance structures.Therefore,to study the effect of the implementation of equity incentives in listed companies in China,It helps to improve the current equity incentive system and enrich its theoretical research.This article selects Aier Ophthalmology,which has good growth on the GEM,as the case study object.Aier Ophthalmology is the first medical institution to be listed on the domestic IPO.Since its listing,it has implemented four equity incentive plans.Based on the analysis of the implementation process of equity incentives,based on relevant theories and literatures,the implementation content and process of equity incentive plans are discussed in detail,and the characteristics of their incentives are summarized.Then,a variety of equity incentive models are adopted from Aier Ophthalmology.Starting from the horizontal and vertical financial performance,market response,non-financial performance and other aspects,the implementation effect is evaluated,and the successful experience and shortcomings of the implementation plan are analyzed.Finally,some suggestions are made for companies that implement diversified equity incentives in the future.Research inspiration.Based on the case analysis of Aier Ophthalmology,this article draws the followingconclusions: First,the differentiated equity incentive plan meets the needs of enterprises at different development stages.The second is the stage.The innovation of the partner plan is in line with its strategic planning and business model,which accelerates the industrial layout;the third is that the implementation of a continuous equity incentive plan helps to enhance the effectiveness of incentives.The plans of each phase are interlocked and promoted layer by layer to improve the company’s performance;the fourth is that the implementation of equity incentives effectively protects human capital and improves Scientific research capabilities,while expanding market share,and improving corporate competitiveness.Finally,combined with the advantages and disadvantages of Aier’s ophthalmology case,the following enlightenment is obtained: First,when implementing listed companies’ equity incentives,they must first fully consider the development stage,industry nature and strategic planning of the company,and understand the characteristics of different incentive tools,Choose the appropriate incentive model,and formulate a plan based on its own characteristics;the second is to use different measures to establish a combination of short,medium and long-term incentive mechanisms for enterprises to provide comprehensive and multi-level incentives for corporate talent;the third is to introduce dynamic equity Incentive mode to avoid the disadvantages of traditional schemes and make them more flexible excellent.