ZX High-Tech Enterprises’ Equity Incentive Empowering Innovation Performance Research

In the era of rapid development of the knowledge economy,the role of technological development in promoting economic growth is increasingly strengthening.Technological innovation is a core factor that affects competitiveness and is gradually receiving attention from enterprises.However,technological innovation relies on key human factors.Due to the widespread existence of agency issues,in the absence of interest driven situations,employees have a low willingness to actively engage in high-risk and high-investment innovation activities in the enterprise.Therefore,it is very important to research and design reasonable governance measures to enhance the innovation ability of enterprises,and implementing equity incentive is one of the effective measures.Equity incentives always play an important role in corporate governance and incentive mechanisms.Equity incentives can build and improve talent incentive mechanisms,complement and improve other corporate governance functions,attract and retain outstanding talents,effectively avoid agency risks,improve the company’s internal control level,and adjust conflicts of interest between managers and shareholders.Currently,they have been adopted by more and more enterprises,And achieved good practical results.Compared with Western countries,the development speed of equity incentive in China is relatively slow.However,with the continuous improvement of relevant systems and regulations by the government,its development has become increasingly mature,and more and more listed companies have begun to implement equity incentive.ZX Enterprise is an established enterprise in the communication equipment manufacturing industry among domestic high-tech enterprises,and it is also the first batch of domestic enterprises to carry out equity incentives.Since 2007,four equity incentive plans have been launched,attracting much attention.Based on relevant theoretical foundations and consulting relevant literature,this article first analyzes the influencing factors and internal mechanisms of equity incentive enabling innovation performance,providing theoretical support for subsequent development.Then,it understands the research background,specific content,and comparison of four equity incentive plans for ZX enterprises.Using case analysis method,it starts with four equity incentive plans for ZX,and based on the innovation investment stage In the innovation transformation stage and innovation achievement stage,innovation performance evaluation indicators are selected to analyze the trend of innovation performance changes after equity incentives are implemented in ZX high-tech enterprises,consider the effect of equity incentives on innovative performance,and propose relevant suggestions for improving innovation performance through equity incentives in ZX enterprises.The final research results show that equity incentives in ZX high-tech enterprises enable innovative performance to bring positive incentive effects,but equity incentives have a short incentive period for innovative performance and the effectiveness of restricted stock incentives in equity incentives is better than stock options.The research conclusionsof this article provide some reference for improving the incentive effect of equity incentives on innovation performance in high-tech enterprises and designing equity incentive schemes for high-tech enterprises.