h电气公司股权激励方案设计分析-design and analysis of equity incentive scheme for h electric company.docx

AbstractIn recent years, as the core competitiveness of enterprises, the value of human capital is generally preferred in modern enterprises. The competitions is no longer the one among enterprises, but is essentially showing competition of talents. How to strengthen human capital investment and establish an effective equity incentive mechanism is become an important competition advantage for enterprise’s survival and development.Dispersed equity and complexity of decision-making and management in modern enterprise causing highly quality professional manager has become one of the indispensable factors of enterprise development. In order to effectively inspirit the management supervisors and renovate the incentive system, the equity incentive mechanism is adopted by most of world top 500 companies. Equity incentive, as a kind of restricted incentive mechanism, can unify the both benefits of owners and managers, and also can solve a series of problems that may result in a relationship between principal and agent, so it is very helpful to reduce management cost largely and improve the overall revenue of enterprise. And it can not only highly incentive the enterprise’s original talents, but also attract more outstanding people to join the company by carrying out the plan of equity incentive. In addition, the abundant human capital will be formed eventually.As the imported product, the history of equity incentive is not really a long time, and the accumulation of development experience are also very limited in China. This is reflected not only in flaws of the design of enterprise’s equity incentive, but also in immature and imperfect macro environment. For most of listed companies, it will result in failure of equity incentive eventually because the program is difficult to successfully implement and the long term benefits are ignored. Therefore, there is still a long way to explore the equity incentive in China.Taking the H Company as the research object, this paper will