华宇软件股权激励及实施效果研究

AbstractEquity incentive is a long-term incentive mechanism implemented by enterprises in orderto motivate and retain core talents.It is one of the most commonly used and most effectivemethods to motivate employees up to now.Equity incentives first originated in the UnitedStates,and have since developed rapidly in Western countries.After the promulgation of the"Measures for the Administration of Equity Incentives for Listed Companies(Trial)",China'sequity incentive mechanism has improved the legal system environment in China,and moreand more enterprises have begun to implement equity incentive mechanisms.Although equityincentives have become one of the main ways for many listed companies to motivateemployees,because the equity incentive mechanism has been implemented in China for ashort period of time,and some companies have not achieved the expected results due to theirrational design of equity incentive programs,therefore,for the above background,It is ofgreat theoretical and practical significance to conduct case studies on companies that haveimplemented equity incentivesThe paper selects the equity incentives of Beijing Huayu Software Co.,Ltd.as the casestudy object,and focuses on the implementation process and effect of the two equity incentiveschemes of Huayu Software.It uses principal-agent theory,human capital theory,andtwo-factor theory,and uses theories and cases Combined research methods,supported byfinancial data from 2010 to 2017,deeply analyze the motivation and characteristics ofprogram design for the implementation of two equity incentives of Huayu Software,analyzethe impact of the implementation of equity incentives on corporate performance,and evaluatethe effectiveness of incentives.Finally,make analysis and suggestions on the shortcomings ofthe design of equity incentive plans.The thesis includes the following seven parts on the basisof reference to existing literature at home and abroad.The first part is the introduction,whichmainly introduces the research background and significance,the research results of relatedliterature at home and abroad,the research content and methods;The relevant theoretical