中国上市公司股权激励效果分析-analysis of equity incentive effect of chinese listed companies.docxVIP

II II Research on equity incentive effect of Chinas listed companies Abstract The management equity incentive has long been considered an effective way to solve the commissioned - agent relationship, so the stock ownership incentive in our country in recent years has caused a boom. Especially in 2006, the China securities regulatory commission promulgated the equity of listed companies incentive management approach (trial) , since the stock ownership incentive in our country began to regulate, and continuous equity incentive of listed companies promulgated laws and regulations in China, more and more strict to the requirement of equity incentive, equity incentive effect is obvious in our country has changed. 2010 is the gold window of equity incentive, implementation of equity incentive of listed companies flourished, in 2011 and 2012 showed a surge in the situation. So for the further study of equity incentive is necessary. This article comprehensive reviewed in domestic and foreign research results related to equity incentive, elaborates the related theory of equity incentive, then do empirical research on the equity incentive. this article mainly analyses the equity incentive effect from two aspects , one is vertical line description statistical analysis, the sample is divided into general descriptive statistical analysis and descriptive statistical analysis, the overall level of the equity incentive effect and industry level are studied, the second is to gather the section data of multivariate linear regression analysis, this article selects two indicators return on equity and earnings per share to measure company performance, management equity percentage as equity incentive level, in order to better analyze the effect of equity incentive, this article selects a number of control variables, ruled out the interference factors of equity incentive effect. Research conclusion: equity incentive can improve corporate performance, is a positive correlation between them