The basic idea of equity incentives is that through letting the operators hold shares of the corporation,it makes the operators’ interests consistent with the owners,so as to urge the operators to exert their efforts and maximize their own interests.But under current market environment in China,it has no definite answer to how the implementation effect of equity incentives is and whether equity incentives can improve the performance of the company.Based on the purpose to explore the implementation effect of equity incentive,this paper takes the data of the listed company in China from 2008 to 2010 as an example and makes an empirical study of the relationship between equity incentives and performances of listed company.The study shows that in the long run,the equity incentives of the listed company in China can improve enterprise performances.