A Performance Study Of Equity Incentives For Listed Companies In The Semiconductor Equipment Manufacturing Industry

This article analyzes the case analysis of the impact of North China's equity incentive plan on corporate performance after the release of the equity incentive plan in March 2018.It is mainly divided into short-term market performance analysis,midto long-term financial performance analysis,and innovation capability analysis.This article sorts out the theories and literature related to equity incentives and operating performance,and then introduces the operating conditions,incentive goals and plans of Northern China.Then use the event research method to analyze the short-term market performance of Northern Huachuang,use the entropy method and combine with Northern Huachuang's financial indicators to analyze its financial performance,and use the DEA model and the DEA-Malmquist index method to innovate on Northern Huachuang.Analyze the capabilities,and then analyze the impact of North China's equity incentive plan before and after its release on its operating conditions and innovation and R&D capabilities based on the empirical results,summarize the overall impact of North China's equity incentives on its development,and give event inspiration and research conclusion.Through the research of this article,the following conclusions and enlightenment are drawn: The conclusion is that the equity incentive plan of Northern Huachuang has a positive impact on its stock price in the short term,indicating that the market recognizes Northern Huachuang's equity incentive plan for core technical personnel;the use of entropy According to the analysis of the mid-tolong-term financial performance of North Huachuang by the law of equity,from 2018 to 2020 after the issuance of equity incentives,the comprehensive financial performance score of North Huachuang has been greatly improved compared with 2016 and 2017,reflecting the The equity incentive of the company has a positive effect on its financial performance;the results of the analysis using the DEA index method show that the TFP value and technological progress index of the comparable company in the industry are greater than 1 and higher than the industry average,indicating that the equity incentive After the release of the plan,Northern Huachuang has made greater technological progress and production efficiency has also improved.