Research On Implementation Effect Of Equity Incentive Of Zoomlion Under The Background Of Mixed Reform Of State-owned Enterprises

The report of the 20th National Congress of the Communist Party of China pointed out that we should "deepen the reform of state assets and state-owned enterprises and promote state-owned capital and state-owned enterprises to become stronger,better,and bigger".State-owned enterprises,as the backbone of the development of our national economy,have played different functions in different historical periods.In recent years,problems such as low management efficiency,ineffective supervision and incentive mechanisms,and insufficient enterprise vitality have seriously restricted the realization of high-quality development in state-owned enterprises.Deepening the reform of state-owned enterprises has become the main direction to promote the healthy and sustainable development of state-owned enterprises.As an important means to deepen the reform of state-owned enterprises,equity incentives and mixed reform of state-owned enterprises have always gone hand in hand.Exploring the long-term incentive and restraint mechanisms,improving corporate governance,and stimulating the vitality of enterprises have always been key issues in the reform of state-owned enterprises.This paper uses Zoomlion as the research object.Firstly,the existing literature is combed and summarized,and relevant theories are introduced to provide theoretical support for the subsequent analysis of the implementation effect of equity incentives.Secondly,it introduces the process of Zoomlion’s mixed reform and equity incentive and uses the two-party evolutionary game model to analyze the feasibility of implementing equity incentive against the background of mixed reform.Thirdly,the efficiency coefficient method is used to analyze the changes in Zoomlion’s overall performance and industry status before and after the implementation of the equity incentive,and the longitudinal comparison is used to analyze the financial and non-financial changes.Finally,it summarizes the implementation effect of equity incentives in Zoomlion against the background of mixed reform and puts forward the experience of enlightenment.Using the case study method,the research shows that the implementation of equity incentives in Zoomlion against the background of mixed reform has a significant positive impact on both the financial and non-financial results of the enterprise.This paper is conducive to enriching the relevant research on the implementation effect of equity incentives,providing theoretical and case guidance for the implementation of equity incentives in state-owned enterprises against the background of mixed reform,and providing a reference for further deepening the reform of state-owned enterprises.