Research On Implementation Effect Of Equity Incentive Scheme In Muyuan Company

Equity incentive started late in China,the main role is to solve the agency problem caused by the different interests of enterprise owners and operators through equity incentive,at the same time to stimulate the work potential of managers,enhance creativity,and then attract and stabilize talents,and enhance the market competitiveness of enterprises.In terms of animal husbandry industry,is a traditional enterprise in our country,and as livestock province in Henan province,has occupied the top three position of national output value,Muyuan Food Co.,Ltd.is a local enterprise in Henan province,but also a leading enterprise in the industry.in 2019 for the first time announced the announcement of restricted stock equity incentive plan,followed by the second announcement in 2022,this article because 2019 equity incentive plan has been completed all unlock the implementation,so this paper mainly analyzes the incentive in 2019.This paper selects Muyuan shares as the research object of the case,introduces the main content of the equity incentive plan,and points out the motivation of its equity incentive plan.Select the financial data from 2014-2021,From the implementation effect of equity incentive from the aspect of financial performance,Through longitudinal comparative analysis of the effect of financial indicators,At the same time,select two companies in the same industry that implement equity incentive and Lihua shares without equity incentive to compare the changes of financial indicators horizontally;In terms of non-financial performance,Through the analysis of the nonfinancial performance before and after the implementation of r & D innovation,talent incentive and the company’s development strategy;Comprehensively analyze the effect of market changes before and after the implementation of the company’s market value,capital market and EVA;Finally,summarize the problems of the original share incentive scheme and put forward targeted suggestions.Through the in-depth study of the incentive case,Found that it has a positive impact on the profit status,development prospects and market value of Muyuan shares,At the same time,it has improved its research and development capabilities,The purpose of reducing the agency costs and improving the work vitality of the employees,But the impact on the capital markets is not obvious,Thus,it is found that the assessment index and incentive mode are too single,the incentive validity period and the incentive scope are short,In view of these problems,this paper puts forward the reasonable incentive mode and assessment indicators and the corresponding implementation measures,In order to provide theoretical support and experience reference for other enterprises implementing equity incentive and implementing equity incentive in animal husbandry.