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1、ABSTRACTPrincipalagentproblemscausedbytheseparationofownershipandmanagementrightsoftheModernCorporationisthemajorproblemsfacedbythecorporategovernance.Intheprincipal-agentrelationship,theshareholdersofthecompanyispursuitingforthemaximizationofequityvalue.Becauseof"econ
2、omicman”,,Accordingto"theintroduction,literaturereview,theoreticalanalysisandassumptions,researchdesign:AnEmpiricalAnalysisofthemainconclusionsandrecommendations",titxispaparisdividedintosixparts.Thesixpartofthispaperisrespectivelyasfollows:Thefirstpartisintroduction,m
3、ainlyintroducestheresearchbackground,thesignificanceofthisstudy,andputsforwardtheresearchideasandinnovationpointsofthispaper.Thesecondpartistheliteraturereview.Basedonthedomesticandforeignresearchaboutequityincentiveandcompanyperformanceandtherelationshiopbetweenowners
4、hipstructureandcompanyperformance,howtheresearchsituationaboutthistopicinacademic,andpointoutitscontributionsandshortcomingsaftertheliteraturewasreviewed,.Thethirdpartistheoreticalanalysisandassumptions,thispartputforwardhypothesesbasedontheprincipal-agenttheory,humanc
5、apitaltheory,propertyrightstheoryandthetheoryofincentivecompatibilityandentrenchmenteffectsandbenefitsofsynergisticeffects.Atthesametixne,SampleFirmsandthedomesticdevelopmentstatusweredescribedonthehypothesisofthisresearch.Thispaperputforwardatotaloffivehypotheses.Thef
6、ourthpartistiieresearchdesign.First,constructanempiricalmodelandcorrespondinghypothesis,accordingtothehypothesisofthisstudy,withreferencetothepreviousstudies.Thispaperhavefiveregressionmodel.ThetwomodelsreciprocalareforrobustnesstestSecondly,themetiiodforselectionofsam
7、pledata,structureandcompanyperformance.Thesixthpartistheconclusionandsuggestions.Throughtheaboveregressionwecandrawconclusions.ThenputingforwardspecificsuggestionsaccordingtotheconclusionsofthelistedCompanies.Theempiricalconclusionofthispaperasfollows:(1)theequityincen
8、tiveispositivelyrelatedtoconpanyperformance.Itissaidthattheimplementationofequityincentivecanupgradetothecompanyperfo