山西汾酒股权激励实施效果研究

Research on the Implementation Effect of Equity Incentive in Fenjiu, Shanxi

由于委托代理关系的出现,企业面临着许多新的困难和挑战。作为一种长效的激励方式可以有效解决委托代理关系所带来的问题,因此已经被越来越多的公司引入和应用。股权激励通过将管理层和核心职工的薪酬与公司的业绩挂钩,让员工可以和公司形成紧密的联系,提高员工积极性。本文利用杜邦分析法,对山西汾酒2018年发布的股权激励计划实施效果进行评价,发现其在实施过程中存在的不足并提出相对应的改进建议,为我国其他酒企设计股权激励方案提供一定的参考。

Due to the emergence of principal-agent relationships, enterprises are facing many new difficulties and challenges. Equity incentives, as a long-term incentive method, can effectively solve the problems caused by principal-agent relationships. Therefore it has been introduced and applied by more and more companies. Equity incentives link the salaries of management and core employees to the company’s performance, allowing employees to form a close connection with the company and improve employee motivation. This paper uses DuPont analysis to evaluate the implementation effect of the equity incentive plan issued by Shanxi Fenjiu in 2018, finds the shortcomings in the implementation process and puts forward corresponding suggestions for improvement, which provides some reference for other Chinese liquor enterprises to design equity incentive plans.