本科生毕业论文《股权激励机制应用及有效性研究》.docVIP

PAGE PAGE 18 河南财经学院本科生毕业论文 股权激励机制的应用及有效性研究 姓　　名 学　　号 专　　业 会计学 指导教师 讲师 2009 摘要 股权激励被认为是能够减轻委托代理成本，从而提高公司绩效的好方法，被誉为上市公司经营者的“金手铐”，但是2008年的金融危机及全球经济动荡使股市身陷重围、徘徊不前，加上近期企业高管天价薪酬引起的普遍热议，股权激励机制再次成为焦点。 中国各地实施的股权激励实质上是期股激励，并对期股的出售和获得资格等作了较为严格的规定，各地在股权激励的尝试方面态度比较谨慎。但是，由于各种条件的制约，一些地方的期股激励并不顺利，近日北京市一些企业退出期股激励试点，经营者宁拿年薪不要期股，实际上也说明股权激励并不是一厢情愿就能实施的事情，这种激励方式必须根据企业状况、环境和业务特点等具体而定。 股权激励是具有两面性的“金手铐”，要恰如其分地去应用它。 政府方面有义务通过法律法规、管理制度等形式为各项机制的形成和强化提供政策支持，创造良好的政策环境，不合适的政策将妨碍各种机制发挥作用。另外要注意股权激励的适用是有条件的，应该把股权激励作为引导经理人行为的手段来使用。 关键词：股权激励；期股激励；期权激励；辞职套现?MACROBUTTON NoMacro [Click and type abstract text here.] Abstract Equity incentives considered can reduce principal-agent cost, so as to improve the performance of the company. Known as the golden listed operators in 2008, but the handcuffs of financial crisis and the global economic turmoil in siege, stock, plus recently purchased executives of hot debate generally salary incentive mechanism, equity again into focus. The implementation of equity incentive around China is essentially QiGu incentive, and QiGu to qualify the sale and the relatively strict rules on the stock ownership incentive to all aspects of the very cautious attitude. However, due to various restrictions, some local QiGu motivation is not smooth, some enterprises in Beijing recently QiGu exit, operators and incentive pilot temple, in fact, also do not QiGu salary that the stock ownership incentive not wishful thinking can be implemented, the incentive mode according to enterprise, business environment and specific characteristics. The stock ownership incentive is coin has its two sides golden handcuffs, we want to apply it properly. The government has obligation by laws and regulations, management system so as to form the mechanism for the formation and strengthening policy support and create good policy environment, inappropriate policy will interfere with various mechanisms. In addition to note the stock ownership incentive is the suitable condition, should put the st