RELATIONSHIP BETWEEN EQUITY INCENTIVE AND CORPORATE PERFORMANCE IN LISTED COMPANIES FROM THE EMPIRICAL POINT OF VIEW

摘要

Equity incentive is an effective long-term incentive system to solve the principal-agent problems appeared in the middle of the twentieth Century, making manager-sable to participate in corporate decision-making with the identity of shareholders, share the profits and risks. Equity incentive promote the effective growth of enterprise performance. With the revolution of equity division of china, many listed companies were putting equity incentive on the agenda, and the internal governance situation and external market environment of public companies were greatly improved, which objectively promoted the fast development of stock ownership incentive mechanism. But the implementation of the equity incentive plan is different, the implementation effect of each are not identical. This paper studies to improve the understanding of equity incentive, improve the listing Corporation's equity incentive program, which helps to improve the efficiency of management of listing Corporation. This study attempts to implement equity incentive to domestic company as the research object, using the Shanghai and Shenzhen City listing Corporation data, by using the method of comparative analysis, case analysis, regression analysis, analysis of the relationship between equity incentive and corporate performance from the empirical point of view.