我国创业板上市公司股权激励问题研究

发布时间：2018-05-03 05:06

本文选题：股权激励 + 创业板　；参考：《山东财经大学》2012年硕士论文

【摘要】：股权激励作为一种长期激励机制，能够有效解决现代公司制企业中的委托代理问题，在西方发达国家被广泛应用。我国由于资本市场起步较晚、发展不完善，股权激励进程相对缓慢。股权分置改革的进行与基本完成以及此后国家相关法规的不断出台，为我国上市公司实施股权激励提供了良好的制度环境。 2009年10月30日，我国创业板正式开市交易，表现活跃，备受关注。众多的具有一定创新能力和高成长性的中小民营企业纷纷在创业板上市。为了有效解决其委托代理问题，在激烈的市场竞争中留住人才资源，实现企业的长期稳定发展，越来越多的创业板上市公司开始实施股权激励。那么，我国创业板上市公司股权激励的实施现状如何，面临着怎样的问题，应如何完善我国创业板上市公司的股权激励机制？本文正是带着这些问题，对创业板上市公司的股权激励问题进行研究。本文首先对国内外学者对股权激励的研究进行了梳理，对相关概念进行界定，并从理论角度阐述了我国上市公司实施股权激励的必要性与重要性。然后结合我国创业板上市公司实施股权激励的制度环境与其自身实际情况，对创业板上市公司股权激励的发展历程和方案现状进行分析，从公司内外部环境和方案设计方面发现创业板上市公司在股权激励实施过程中面临的问题。接着，，有针对性地提出相应的建议，以期为完善我国创业板上市公司的股权激励发挥一定的作用。最后，以SZ公司的股权激励实施情况为例论证本文的研究。
[Abstract]:As a long-term incentive mechanism, equity incentive can effectively solve the principal-agent problem in modern corporate enterprises and is widely used in western developed countries. Because the capital market starts late, the development is not perfect, the equity incentive process is relatively slow. The implementation and completion of the reform of split share structure, as well as the continuous introduction of relevant national laws and regulations, provide a good institutional environment for the implementation of equity incentives for listed companies in China. On October 30, 2009, the gem of our country officially opened the market transaction, the performance is active, receives the attention. Many small and medium-sized private enterprises with certain innovation ability and high growth have been listed on the gem. In order to effectively solve the principal-agent problem, retain talent resources in the fierce market competition, and achieve the long-term stable development of enterprises, more and more gem listed companies began to implement equity incentives. So, what is the status quo of the implementation of equity incentive for gem listed companies in China, what kind of problems we are facing, and how to improve the equity incentive mechanism of listed companies in gem? With these problems, this paper studies the equity incentive of gem listed companies. In this paper, first of all, the domestic and foreign scholars on the research of equity incentive are combed, the related concepts are defined, and from the theoretical point of view, the necessity and importance of the implementation of equity incentive of listed companies in China are expounded. Then according to the institutional environment of implementing equity incentive of gem listed companies and its own actual situation, this paper analyzes the development course and current situation of equity incentive schemes of gem listed companies. From the aspects of internal and external environment and scheme design, the problems faced by gem listed companies in the process of equity incentive implementation are found. Then, the corresponding suggestions are put forward in order to play a certain role in perfecting the equity incentive of listed companies in gem. Finally, SZ company's stock right incentive implementation is taken as an example to demonstrate the research of this paper.
【学位授予单位】：山东财经大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F272.92;F832.51

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