Study on the Relationship between the Top Management’s Power, Equity Compensation Gaps and the Enterprise Performance----Based on the Panel Data after the implementation of China’s Administrative Measures of Stock Option Incentives of Listed Companies
Jiwa An

Abstract
This paper chooses the A-share companies from China’s manufacturing industry that has implemented the stock ownership incentives as the sample, attempts to check the relation between the shareholding ratio of the management and the enterprise performance, and further analyzes the influence of the industry involved to the relation between the ownership concentration and the performance. This study finds that the implementation of the stock incentive plan has a certain excitation effect on the business performance of the sample companies; the shareholding ratio of the management has significant positive correlation to the enterprise performance; the implementation effect of the restricted ballot pattern is better than that of the stock option pattern.

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