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Case Study: the Virtual Equity Schemes of Guangdong CTS

Author: FuHaiJian
Tutor: ChenChunHua
School: South China University of Technology
Course: Business Administration
Keywords: Non-listed companies Virtual Option Implementation of the program
CLC: F592.6
Type: Master's thesis
Year: 2011
Downloads: 281
Quote: 0
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Abstract

Equity incentive is a way to motivate employees by enterprises in the modern society, are long-term incentives, its core purpose: the enterprise employees through the change of property rights, access to capital property, so as to the identity of the owner to participate in the operation of the business management process, and to the interests of employees with the long-term interests of the enterprise firmly tied to inspire employees to maximize labor enthusiasm, enabling enterprises to maximize the benefits. These officers, managers of listed companies and the core business personnel principal - agent problem to resolve, to attract and long-term incentive equity incentives as an effective incentive mechanism has to be a wide range of applications in Western countries. There are more defects due to the non-listed company itself and combined with the harsh external economic environment, led to a lot of business difficulties. Can attract, stimulate high-quality talent through the implementation of virtual equity incentive labor enthusiasm, thus promoting enterprises to enhance their competitiveness, and to change the over-reliance on low earnings, and the extensive development of the backward situation, and eventually out of the woods, the road to healthy development. In this paper, the case study method, Guangdong Province, China Travel Service Co., Ltd. as the research object. The company had a poor operating conditions of business dispersed, the lack of competitiveness of enterprises, but, after the implementation of a virtual stock option incentive mechanism, and ultimately become the leading domestic tourism enterprises. This paper analyzes the background of China Travel Service Co., Ltd. of Guangdong Province, the implementation of virtual stock option incentive mechanism, process, content and effects, ultimately summed up the advantages and disadvantages of the virtual stock option incentive mechanism of the China Travel Service Co., Ltd. of Guangdong Province, and improvement program . In the case of body part, begin by reviewing the course of development of the Guangdongzhonglv, operating status, and the challenges facing the loss of market and business backbone. Recalling its predicament faced before the implementation of the virtual equity incentive based on the theory of stock options analyzed virtual stock options is suitable Guangdongzhonglv incentive system. Then, detailed description the implementation Guangdongzhonglv virtual stock options program. Finally, three years after the implementation of a year ago and embodiment in virtual stock option program is the comparison of financial data to evaluate the effectiveness of program implementation, proved Guangdongzhonglv virtual stock option program implementation has achieved significant results . Case Study part first Guangdongzhonglv the virtual stock option incentive motivation analysis, pointed out that their main motivation is that the travel industry, the market demand continued to grow increasingly competitive, and Guangdongzhonglv internal resources and lack of motivation; Second, it Guangdongzhonglv problems that have arisen in the implementation process of the virtual stock option program, the details of the arrangement and analysis of the strengths and weaknesses of the program, from the number and structure of incentive logic payment risk, equity and non-listed companies in the stock incentive that virtual stock option program's advantages; granted to the target range, the calculation of the incentive fund exercise and payment date price pointed out that the virtual stock option program's shortcomings; Finally, in combination before the text of discourse and the Current Situation of the current implementation of virtual equity incentives Based on the analysis, summarize the virtual stock option design suitable for China's non-listed companies.

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CLC: > Economic > Tourism economy > China 's tourism industry > Organization and management of tourism enterprises
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