美的集团股权激励实施效果研究

Research on the effect of Midea Group's equity incentive

股权激励是企业为了吸引和保留人才而采取的一项措施,近年来在我国企业中迅速推广开来,实施股权激励制度的企业数量增长迅速,但从企业实践结果上看,并不是所有企业实施股权激励都有效果。基于此,本文以家电行业领军企业:美的集团为例,从可行权条件完成情况、财务能力指标和非财务能力指标三个视角,对其2010年-2018年实施股权激励前后的年报数据进行横向比较分析。研究发现,实施股权激励对美的集团的财务绩效有积极的影响,随着美的集团股权激励的不断实施,离职率呈下降趋势,增强了员工对企业的归宿感。2014年首期股权激励的实施促进了企业的发展,而2015年股权激励计划并没有取得理想效果,2018年股权激励效果没有2017年股权激励效果好,这些情况表明股权激励实施效果与行业整体环境以及企业自身发展计划都密切相关。

Equity incentive is a measure taken by enterprises in order to attract and retain talents.In recent years,it has been popularized rapidly in China's enterprises,and the number of enterprises implementing the equity incentive system has increased rapidly,but from the result of practice,not all enterprises have the effect of equity incentive.Based on this,this paper takes Midea Group as an example,and makes a horizontal comparative analysis of its annual report data before and after the implementation of equity incentive in 2010-2018 from three perspectives:the completion of vesting conditions,financial ability index and non-financial ability index.This study finds that the implementation of equity incentive has a positive impact on the financial performance of Midea Group;with the continuous implementation of equity incentive,the turnover rate of Midea Group has a downward trend,which can retain core employees;the implementation of the first phase of equity incentive in 2014 has promoted the development of enterprises,while the 2015 equity incentive plan has not achieved ideal results,and the 2018 equity incentive is not as effective as the 2017 equity incentive,which shows that the implementation effect of equity incentive is related to the overall environment of the industry and the development plan of the enterprise itself.