Research On The Influence Of Equity Incentive On Enterprise Performance Of Science And Technology Innovation Board Company

Equity incentive system is considered as one of the effective long-term incentive mechanisms,which has played a certain role in attracting talents for enterprises.For most science and technology innovation enterprises,a large number of high-tech talents can help them improve their R&D and innovation capabilities.Therefore,for science and technology innovation enterprises,it is particularly important to implement equity incentive plans to help enterprises attract and retain talents.With the progress of the times,the independent innovation ability of enterprises has become an important factor to promote the progress of the entire industry and society.In order to speed up the process of independent innovation,it is necessary to reform the equity incentive to achieve more targeted incentives and more significant incentive effects.When the Science and Technology Innovation Board was established in 2019,the relevant system of equity incentive was reformed.From the incentive object to the performance evaluation standard,it is different from the main board.As one of the leading enterprises in the industry,Jingfeng Mingyuan has implemented equity incentive plans for many times after its listing.Jingfeng Mingyuan is representative of the research on the impact of equity incentive on enterprise performance of science and technology innovation board companies.This paper adopts the method of case study,taking the impact of equity incentive on enterprise performance of the Science and Technology Innovation Board Company as the research theme,and taking Jingfeng Mingyuan Company as the case study object,to carry out the exploration and research of this paper.The theory of principal-agent,human capital and incentive is the theoretical basis of this study.First,it discusses the difference between the current situation of equity incentive implemented by the Science and Technology Innovation Board and the main board,and discusses the innovation of equity incentive system implemented by the Science and Technology Innovation Board;And from the two aspects of agency cost and innovation,the paper analyzes the mechanism of the impact of equity incentive on enterprise performance.Secondly,it introduces the development process of Jingfeng Mingyuan,and deeply analyzes the plan and implementation of equity incentive of Jingfeng Mingyuan.Finally,the impact of equity incentive on Jingfeng Mingyuan’s financial performance is analyzed by selecting relevant indicators such as solvency,operating capacity,profitability and development capacity,and the impact of equity incentive on Jingfeng Mingyuan’s non-financial performance is analyzed by selecting indicators related to personnel situation and innovation ability,and the impact of the equity incentive on the company’s stock price is analyzed by using the event study method,It draws the conclusion that equity incentive has a positive impact on enterprise performance,and on this basis,it puts forward relevant suggestions for other science and technology innovation board enterprises.Through the above related research,the following conclusions are drawn: First,the implementation of equity incentive is conducive to the sustainable development of Jingfeng Mingyuan.The specific performance is that the short-term market reaction is better when the equity incentive announcement is issued.The implementation of equity incentive has retained core talents,improved enterprise performance,improved innovation ability and promoted long-term development.Second,the implementation of equity incentive in science and technology innovation board enterprises is more conducive to enterprise development.Compared with the A-share main board listed company Beifang Huachuang,all indicators of Jingfeng Mingyuan perform better when equity incentive is also implemented,and compared with the science and technology innovation board listed company Chipai Technology,all indicators of Jingfeng Mingyuan perform better when equity incentive is not used.Therefore,it is concluded that the implementation of equity incentive by science and technology innovation board enterprises is more conducive to enterprise development.This paper chooses the listed companies on the Science and Technology Innovation Board to conduct research on the impact of equity incentive on corporate performance,which can enrich the relevant research of domestic literature in this sector,and also provide valuable experience basis for the development of equity incentive plans for the Science and Technology Innovation Board companies.