翻译:securities regulatory comm**sion **sued the l**ted company equity incentive management approach, more and more companies launch equity incentive program. th** ** uses event study methodology, empirical research on the 75 a-share l**ted company, calculate the excess returns around the d**closure of the equity incentive plan, find out the trends and to test its significant to measure the announcement equity incentive plan of the incident the company volatility in short-term impact, and the similarities and differences between the announcement effect of subdiv**ion from the incentive point of view of the subject matter. the results show that the a-share market on the announcement of the equity incentive plan to make a significant positive response options for the subject matter of the announcement effect of equity incentives than larger stock of the subject matter, the a-share market ** yet to meet half the efficient market standards and there are more serious insider trading.the conclusions of th** study for the investors want an objective understanding of the a shares l**ted on the announcement effect of equity incentive has a good reference for future equity incentive researchers also provided a certain reference value 20210311
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