By selecting index system which reflects the listed companies’ performance and managers’ endeavor degree, a linear regression model was constructed. The correlativity between the listed companies’ performance and managers’ rewards was analyzed through software SPSS15.0. The results show that there is no significant relativity between managers’ reward and the listed companies’ performance, and between the companies’ size and managers’ share proportion. While the managers’ annual reward or share proportion tends to be low, the incentive mechanism will suffer a lot from it.

Based on the sample of 51 listed enterprises which finished split share reform, the effect on the top manager’s incentive and performance of listed enterprises was investigated, which utilizes factor analysis method to synthesize ROE，ROA，EPS，IPOS，IROE as performance of listed enterprises' scores and uses regression analysis to verify the relationship between the top manager’s incentive and performance of listed enterprises by SPSS15.0 statistics analysis software. The results show that the reform of split share structure improves the structure of company, the top manager's incentive mechanism takes active effect and improves performance of listed enterprises. The effect of share incentive is better than salary incentive.