State-owned Mixed-reform Enterprises' Equity Incentive Plan And Its Implementation Effect Analysis

In 2020,the Chinese SASAC promulgated the “Guidelines on the Implementation of Equity Incentive for Listed Companies Controlled by Central Enterprises” and encouraged the state-owned listed companies to do a good job in the implementation of equity incentive plan.Different from the foreign social system,there is a special background in China–mixed ownership reform.At the same time,in the "Government Work Report" in 2021,the government departments once again stressed the necessity of deepening the mixed ownership reform of state-owned enterprises.Therefore,based on the special background of Chinese mixed ownership reform,this thesis innovatively uses case analysis as the research approach to explore the impact of equity incentive plan on state-owned mixed ownership reform enterprises.In 2018,the China Great Wall Technology Group Co.,Ltd.was included in the list of "double hundred actions of state-owned enterprises reform".Meanwhile,the corporation has implemented two equity incentive plans in 2017 and 2020.Therefore,from the perspective of the impact of equity incentive plan on state-owned mixed ownership reform enterprises,the corporation has a certain research representativeness.Therefore,this thesis chooses the China Great Wall Technology Group Co.,Ltd.as the research object.Combined with the relevant theories,like equity incentive theory and human capital theory,by making a detailed analysis of the two equity incentive plans implemented by the China Great Wall corporation and making a comparative study on the performance indicators between the China Great Wall corporation and its benchmarking enterprises with the help of the balanced scorecard,this thesis comprehensively explores the impact of equity incentive plans on state-owned mixed ownership reform enterprises.This paper finds that the equity incentive plan is conducive to improving the performance indicators of the China Great Wall Technology Group Co.,Ltd.,but it does not significantly reduce the gap between the corporation and the benchmarking corporation.This paper provides a constructive reference for state-owned enterprises to set up equity incentive plan.