Research On The Effect Of Equity Incentive In Electric Power Enterprises Under The Background Of Carbon Peak And Carbon Neutrality

As one of the most commonly used ways to motivate employees in listed companies,equity incentive can closely combine the interests of enterprises with the interests of employees,stimulate the enthusiasm of management and core talents,attract external talents and reduce principal-agent costs,promoting the sustainable development of the enterprise.Therefore,in order to adapt to the increasingly fierce market competition environment,the number of enterprises implementing equity incentives is increasing.At the same time,the long-term goal of 2035 has put forward clear requirements for carbon peak.The central government has repeatedly stressed that promoting carbon peak carbon neutralization is a realistic measure to implement the new development concept,and adhere to the green and low-carbon model in the fields of production and life.Therefore,as the largest carbon emission industry in China,"double carbon" and"double control" is an important task for the development of electric power industry in the future.Under the background of the development of low-carbon economy marked by the realization of the goal of Carbon Peak and Carbon Neutrality,electric power enterprises are facing new challenges and opportunities,and there is an urgent need to give full play to the role of equity incentives and promote employees to make joint efforts to achieve long-term strategic goals and promote their own low-carbon transformation.Based on the background of Carbon Peak and Carbon Neutrality and taking electric power enterprise A as an example,this paper makes an in-depth study on the implementation effect of equity incentive in electric power enterprises.First of all,using the method of literature research,this paper summarizes the relevant literature in detail to determine the research ideas of this paper from the perspective of implementation motivation,scheme design,implementation effect,evaluation methods of implementation effect and its influencing factors.Then,it analyzes the specific motivation of the enterprise’s implementation of equity incentive,and introduces the specific situation of its equity incentive scheme design.After that,based on the ESG concept and Triple Bottom Line,this paper comprehensively uses the entropy method and analytic hierarchy process to construct the performance evaluation system of equity incentive of electric power enterprises from the perspective of Carbon Peak and Carbon Neutrality,and collects the original data of enterprise A.Taking 10 enterprises in the same industry with the same main business as the control,this paper analyzes the performance of enterprise A during the implementation of equity incentive from the horizontal and vertical point of view,and then evaluates the implementation effect of equity incentive.And further it makes an in-depth analysis of the factors affecting the implementation effect of equity incentives.Finally,the paper puts forward practical suggestions for the implementation of equity incentive in electric power enterprises under the background of Carbon Peak and Carbon Neutrality.Through the case study,this paper finds that enterprise A actively promote the low-carbon transformation of enterprises under the promotion of equity incentives,which on the whole significantly improve their own social performance,environmental performance and comprehensive performance.But at the same time,although the performance of economic performance is better than that of enterprises in the same industry,due to the influence of the deterioration of the industry environment,the economic performance in the second evaluation period is poor.So it failed to exercise power.It reflects the influence of the external industry environment on the implementation effect of equity incentive and the problems existing in the design of equity incentive scheme of enterprise A.On the basis of in-depth research on the implementation effect of equity incentive of enterprise A and its influencing factors,this paper puts forward some suggestions,such as treating equity incentive rationally,enriching equity incentive assessment index,reasonably setting equity incentive exercise conditions and incentive objects,and so on.It is hoped that it can provide a reference for electric power enterprises facing low-carbon transformation to implement equity incentives in the future.