| Since the start of the construction of a safe city in 2005,the security industry with the government as its main market has developed rapidly,driven by the construction of national public security,and has become an important part of the development of the national economy.In recent years,the support of the government market has gradually weakened,which has caused the growth rate of the security industry to decline.Security companies urgently need to use new products and services to develop the industry and civilian markets and find new growth points.At the same time,as new technologies such as artificial intelligence and the Internet of Things empower the security industry and broaden the security boundary,competition in the field of smart security is complex.For security companies,it is very important for security companies to improve their technological innovation capabilities to adapt to the new competitive environment.Enterprise technology innovation requires a large amount of early investment,and agency problems will cause security enterprise executives to treat it negatively.Therefore,how to motivate executives to increase R&D investment and promote enterprise technological innovation has become a problem that must be solved.At the same time,enterprise technological innovation is inseparable from the support of talents.The security industry is talent-intensive.How to retain its own talents,attract new technical talents,and improve the innovation efficiency of technical talents is another problem that needs to be solved urgently.Equity incentives are a long-term incentive mechanism that can be used to solve these two problems.As one of the mainstream equity incentive models,restricted stock incentives are favored by security companies in practice.Therefore,this paper raises the following questions and launches related research:(1)Can restricted stock incentives have a positive impact on the technological innovation of security companies?(2)How should the restricted stock incentive plan of security companies be designed to better promote technological innovation?Based on theoretical and literature research,this paper first sorts out the influence path of restricted stock incentives on enterprise technological innovation.Secondly,from the perspective of the development characteristics of the security industry,it analyzes the necessity of using equity incentives to encourage innovation,and combines the characteristics and deficiencies of existing equity incentives,and puts forward the design ideas of restricted stock incentive schemes for security enterprises.Then,using the singlecase study method,taking the security leader Dahua Co.,Ltd.as an example,it systematically analyzes the motivation of its restricted stock incentives,plan design,and the influence path of restricted stock incentives on its technological innovation.On the basis of excluding other incentive models,and based on whether restricted stock incentives are implemented,the security companies are divided into incentive groups and non-incentive groups to compare the effects of industry innovation horizontally,as well as the innovation before and after Dahua shares incentives and between the two incentives.Vertical comparison of effects to explore whether restricted stock incentives have a positive effect on the technological innovation of security companies.Finally,the evaluation of the impact of the two-phase program design on Dahua’s innovation effect was carried out to summarize the program design experience.This paper found that:(1)Restricted stock incentives can alleviate agency problems,reduce agency costs,retain and attract talents,and motivate employees to improve innovation efficiency,which in turn has a positive impact on the input,output and economic transformation of security companies’ technological innovation.(2)In order to better promote technological innovation,the security company’s restricted stock incentive plan needs to be designed reasonably:the timing of the incentive should consider the security industry trends and strategic goals;the incentive period can be medium to short-term,and rolling incentives should be considered according to the actual situation of the company.Achieve long-term incentives;incentive objects should include executives and core employees,and focus on core employees;the incentive ratio can be appropriately increased and tilted toward core employees;the financial assessment of unlocking conditions should emphasize income and focus on innovation index assessment. |
