| In today’s era of increasingly fierce market competition,for high-tech enterprises,innovation plays a vital role in the core competitiveness of companies.As one of the available ways to solve problems in corporate governance,more and more listed companies began to use equity incentive.A regulation related was issued in 2006 which marks the beginning of China’s equity incentive system.However,different equity incentive schemes may have distinct effects on enterprises in diverse development stages or characteristics.As a high-tech enterprise in the medical device industry,Jafron company was listed on the gem in 2016.Jafron company,which is in the period of rapid development,issued five equity incentive schemes in the six years from 2016 to 2021,which has the characteristic of continuous equity incentive.On the base of the actual situation of Jafron company,this paper analyzes the motivation for company to implement the special plan.At the same time,using comparative analysis method,this paper explains the financial and non-financial performances of Jafron company before and after equity incentive by introducing indicators such as EVA and efficacy coefficient method.It is concluded that the continuous equity incentive scheme implemented by Jafron company can strengthen the effect of equity incentive compared with the single equity incentive scheme.In addition,it is concluded that the implementation of equity incentive should fit the development stage of the enterprise.After finding the characteristics of continuous equity incentive effect,it also puts forward further improvement suggestions for the equity incentive scheme of Jafron company,including assessment index and incentive mode.Through the above analysis process,this paper attempts to summarize the advantages and disadvantages of Jafron company during equity incentive implementation,and give some suggestions,in order to provide some reference for other companies in the same industry or at the same stage of development. |
