Evaluation And Countermeasures On The Effectiveness Of Equity Incentive Based On EVA-BSC Haier Zhijia

With the development of the market economy and the gradual expansion of the company’s scale,the separation of ownership and management has led to the creation of a principal-agent conflict between the owner and the manager.In order to alleviate the contradiction and conflict between the two parties,companies gradually adopt equity incentive policies in the course of operation to align their interests and achieve a win-win situation.Since the 1990 s,more than a thousand companies have implemented equity incentives,but the implementation of equity incentives in some companies has had a positive and beneficial effect,while in others it has had a counterproductive effect.Therefore,it is of great practical significance to analyse and evaluate the effect of equity incentives in enterprises.Based on relevant academic results at home and abroad,this paper continues the core theory of equity incentive,combines literature research method and comparative analysis method,takes Haier Zhijia as the research object,analyses the reasons for implementing equity incentive in its current period,and introduces the specific situation of each period of equity incentive.At the same time,the EVA-BSC evaluation system was constructed by combining the Balanced Scorecard(BSC)and Economic Value Added(EVA),and 20 indicators were selected to analyse and evaluate the data of Haier Zhijia from the financial dimension,the customer dimension,the internal process dimension and the learning and growth dimension,respectively.A cross-sectional comparison study was conducted with GREE and Hisense Appliances and their industry averages to objectively evaluate the effect of the implementation of equity incentives by Haier Zhijia.The financial dimension of the study focused on profitability,solvency,operational capacity,growth capacity and shareholder value creation;the customer dimension focused on market share and customer evaluation;the internal process dimension focused on management process and sales process;and the learning and growth dimension focused on human resources and R&D capacity.The case study found that equity incentives can,to a certain extent,alleviate principal-agent conflicts,promote talent stability,enhance company performance and promote company innovation and development.However,the analysis and evaluation also found that Haier Zhijia’s equity incentive scheme is not reasonable enough and the setting of exercise conditions is not scientific enough.This paper also proposes targeted improvement measures such as reasonable selection of incentive methods and scientific setting of exercise conditions,in order to implement Haier Zhijia’s equity incentive scheme in a better and more efficient way,and to provide some reference value and useful reference for the equity incentive scheme in the home appliance industry.In the meantime,it will provide some reference value and useful reference for the equity incentive behavior of the home appliance industry,thus promoting the positive development of China’s capital market.