The internal mechanism of equity incentives affecting the firm’s market capitalization: based on the mediating effect test model

Wenqiang Pan; Xiangrong Wang

doi:10.1117/12.2672758

28 March 2023 The internal mechanism of equity incentives affecting the firm’s market capitalization: based on the mediating effect test model

Wenqiang Pan, Xiangrong Wang

Author Affiliations +

Proceedings Volume 12597, Second International Conference on Statistics, Applied Mathematics, and Computing Science (CSAMCS 2022); 125972T (2023) https://doi.org/10.1117/12.2672758
Event: Second International Conference on Statistics, Applied Mathematics, and Computing Science (CSAMCS 2022), 2022, Nanjing, China

Abstract

Taking the data of A-share listed companies in Shanghai and Shenzhen from 2008 to 2021 as the sample, this paper uses the mediating effect test model and takes total factor productivity as the mediating variable to deeply study and analyze the impact of equity incentive on the market capitalization of listed companies in China and its internal mechanism. The study concludes the following: 1) Implementing an equity incentive plan will increase the firm's market capitalization; 2) Equity incentive has a positive effect on total factor productivity; 3) Total factor productivity is a mediating variable between equity incentive and a firm's market capitalization, and there is a transmission mechanism of equity incentive-TFP- firm's market capitalization in the firm.

Citation Download Citation

Wenqiang Pan and Xiangrong Wang "The internal mechanism of equity incentives affecting the firm’s market capitalization: based on the mediating effect test model", Proc. SPIE 12597, Second International Conference on Statistics, Applied Mathematics, and Computing Science (CSAMCS 2022), 125972T (28 March 2023); https://doi.org/10.1117/12.2672758

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