| Equity incentive,as a long-term incentive mechanism to effectively solve the problem of enterprise entrustment and agency,was born in the United States in the middle of last century,which triggered a great response in the Western market.At the end of 2005,China Securities Regulatory Commission issued "Listed Companies Equity Incentive Plan Management Measures(Trial)",and Chinese enterprises began to pay more attention to the effect of equity incentive system in practical application.In 2016,with the official announcement of the Management Measures for Equity Incentive of Listed Companies,the implementation of equity incentive in Chinese enterprises has created more space for development.A good equity incentive system is conducive to the improvement of the company’s performance,but also can improve the company’s attraction to talents,enhance the company’s core competitiveness and innovation ability.For now,equity incentive is the larger issues facing the traditional financial performance evaluation has far cannot satisfy the need of diversification of development of listed companies,the shareholders of a company can only through the financial data comprehensive evaluation on the results to motivate employees to work,motivated employees work value cannot fully embodied from the financial performance,How to scientifically evaluate employees’ work performance and implement a reasonable equity incentive system is the key problem faced by many shareholders,and also the concern of many listed companies that have not applied the equity incentive system at present.The market is in urgent need of more scientific and reasonable performance evaluation methods to promote the rational distribution of equity incentive and promote the development of the company.Therefore,it is of great practical significance to study the performance evaluation of equity incentive by other methods.X Technology Company has set up relevant share incentive system and specific incentive measures since the second year of its establishment,and has rich experience in the establishment and implementation of equity incentive plans.As a result,the equity incentive plan issued by the company after its IPO has been widely concerned by the market.The company adopts a flexible equity structure with the same share and different rights after its IPO,which is representative and unique among listed companies.In this article,we will according to company’s equity incentive plan as a starting point,using the method of literature investigation,case analysis and research methods such as analytic hierarchy process(ahp)to embed the four dimensions of the balanced scorecard,to evaluate the equity incentive effects of the X company,focus on the company IPO after the effects of equity incentive system for the company,It is hoped that the general law can be summarized from this study,which can provide reference experience for enterprises to implement equity incentive plan after listing in the future.Through research,this paper concludes that X Company’s implementation of equity incentive plan after listing has a positive impact on the company’s development after listing.However,some problems in the implementation process were also found in the research,and the article also gained more enlightenment for X Company in the implementation process of equity incentive,hoping to improve the efficiency of X company in the future implementation of equity incentive,and help Chinese companies to apply equity incentive. |
