| In recent years,the information technology industry has received various support in policy,capital investment and so on.While the external environment of enterprises plays a role in promoting,information technology enterprises should also pay attention to internal management.Because the industry has the characteristic of relying on talents,the talent resources of the company are very important.As an effective way to attract and retain talents,equity incentive develops rapidly in China.But behind the rapid increase of companies implementing equity incentives,there are many problems such as companies not deeply analyzing their own situation and not designing scientific equity incentive schemes,which not only lead to the failure to achieve the expected incentive effect,but also affect the normal development of the company.This paper first integrates the theoretical basis of equity incentive and related concepts to determine the research basis,and then classifies the literature on the impact of equity incentive elements on enterprise performance and equity incentive on enterprise performance elements,and determines the research ideas and methods of this paper.Most of the companies that implement equity incentive in China in recent years belong to manufacturing industry,followed by software and information technology service industry.This paper analyzes the basic characteristics of software and information technology service industry in China,collates the relevant data of equity incentive published by the industry from 2010 to 2019,analyzes the current situation of equity incentive in the industry,and makes up for the gap of the analysis of the development process of the overall equity incentive in the industry.As an important part of China’s capital market,GEM,its information technology companies implement equity incentive coverage of 70%,so this paper selected companies listed on the gem hope to provide more companies with experience.This paper analyzes the financial performance and non-financial performance from three aspects: vertical analysis of the financial performance before and after the implementation of the equity incentive by the case company,horizontal analysis of the financial performance and non-financial performance of similar enterprises and industries,summarizes the impact of the equity incentive implemented by the case company on the performance of the enterprise,and puts forward some suggestions.In this paper,we use financial index analysis method,comparative analysis method and event research method to analyze the enterprise performance index through the rich sample data of ten years before and after the implementation of equity incentive.In order to reduce the impact of the big environment,this paper not only analyzes the difference of financial index before and after implementation,but also combines the similar companies that have not implemented equity incentive in the horizontal industry and implemented similar equity incentive,and makes a comprehensive comparative analysis of the average level of the industry to better analyze the impact of equity incentive.Financial indicators through the analysis of four major capabilities,non-financial indicators through the shareholding ratio,employee composition,R&D status and market response to establish a more comprehensive and scientific analysis system,so as to sum up the implementation of equity incentives on the impact of the company.According to this paper,the equity incentive of G company has obvious positive influence on the financial performance of profit,debt service,development and operation,but the incentive effect is effective in the short term.Equity incentive plays the role of attracting,retaining talents and promoting R&D in non-financial performance,and brings short-term positive market effect.At the same time,this paper puts forward some suggestions to G company,such as perfect performance appraisal system and diversified equity incentive mode,according to the difference of equity incentive scheme and the effect of implementation.This paper provides a reference for the industry or other similar companies in order to design a more conducive equity incentive plan for the development of the company. |
