Study on the Equity Incentive Effect in the Listed Companies:an Ultra-endogenous Perspective

Along with a series of equity incentive regulations,listed companies' equity incentive system is gradually on track,but the effect is yet to be tested.Equity incentive is derived from such governance environment as outer institutional environment and inner constraint mechanism,and its desired effect can only be expected in the appropriate governance environment.The research on the equity incentive effect from the ultra-endogenous perspective shows that corporate governance and institutional environment not only directly affect the performance of the enterprise,but also play a significant moderating role between the equity incentive execution and firm performance.