非上市中小民营企业股权激励机制探析

发布时间：2018-04-05 06:54

本文选题：股权激励　切入点：非上市　出处：《华中师范大学》2016年硕士论文

【摘要】：随着我国经济的不断发展,市场经济环境的不断完善,我国企业的发展迎来了很多机遇,但与此同时也面临着严峻的挑战。如何在充满竞争的市场环境中,确保企业核心员工团结一致、齐心协力抓住机遇迎接挑战,成为了众多企业考虑的核心问题。在传统的工资奖金核算中,在特定时间内完成特定目标是考核经理人并核对其收入的重要组成部分。此种方式更关注的是企业在短期内的业绩发展,顾及不到企业的长期发展,也就意味着经理人存在放弃企业的长远利益而完成个人的短期业绩的可能性。但企业股东,尤其是快速发展中的企业,相比较于短期利益,更加关心企业的长期价值。要想达到经理人和企业股东一样关注企业长远价值发展的效果,需要将经理人的利益与企业股东的利益紧密地联系在一起。股权激励正好能够实现这一点。股权激励是一种长效机制,它能够促使经营管理者和公司股东具有高度统一的价值追求,从而长期有效地激励经营管理者为企业的长远发展积极努力。不管是管理层、技术核心还是业务骨干都需要关注企业长期的利益进而实现个人的利益,相应地,他们也必须在某种程度上以某种特定的方式承担风险。然而并非只有大型上市公司面临着此类问题,众多非上市企业尤其是中小民营企业同样需要凝聚核心人才与企业共发展。但是目前对于非上市中小民营企业而言,由于股权激励实施环境存疑、相关法律制度不够健全,股票定价变现难度大,存在诸多困难,实施难度较大。本文立足于解决诸多非上市中小型民营企业所面临的人才流失、管理激励不够的问题,站在这类企业的角度,对股权激励机制进行探析。本文还以FT能源有限公司为例,通过调查统计分析,结合其现状初步设计了股权激励实施方案,旨在为国内诸多非上市中小民营企业提供相关参考。
[Abstract]:With the continuous development of our economy and the continuous improvement of the market economy environment, the development of Chinese enterprises ushered in a lot of opportunities, but at the same time, it is also facing severe challenges.In the competitive market environment, how to ensure the unity of the core employees and seize the opportunities to meet the challenges has become the core issue considered by many enterprises.In the traditional salary and bonus accounting, it is an important part of checking the manager's income to complete the specific goal in a certain time.This kind of way pays more attention to the enterprise's performance development in the short term, does not take into account the enterprise's long-term development, also means that the manager has the possibility to give up the long-term interests of the enterprise and complete the individual's short-term performance.But shareholders, especially those in rapid development, are more concerned about the long-term value than the short-term benefits.In order to achieve the effect that managers and shareholders pay attention to the development of long-term value of enterprises, it is necessary to closely link the interests of managers with those of shareholders.Equity incentives do just that.Equity incentive is a kind of long-term mechanism, which can urge managers and shareholders to pursue the value of a high degree of unity, thus effectively motivating managers to make positive efforts for the long-term development of enterprises.Both the management, the technical core and the business backbone need to pay attention to the long-term interests of the enterprise and realize the individual interests. Accordingly, they must take the risks in a certain way to a certain extent.However, there are not only large listed companies facing such problems, many non-listed enterprises, especially small and medium-sized private enterprises, also need to pool core talents and enterprises to develop together.However, for the non-listed small and medium-sized private enterprises, due to the doubt of the implementation environment of equity incentive, the relevant legal system is not perfect, the stock pricing is difficult to realize, there are many difficulties, and the implementation is difficult.This paper is based on solving the problem of brain drain and insufficient management incentive faced by many non-listed small and medium-sized private enterprises. From the angle of this kind of enterprises, this paper analyzes the equity incentive mechanism.This paper also takes FT Energy Co., Ltd as an example, through investigation and statistical analysis, combined with its current situation, the preliminary design of the implementation of equity incentives, aiming to provide a number of non-listed small and medium-sized private enterprises in China to provide relevant reference.
【学位授予单位】：华中师范大学
【学位级别】：硕士
【学位授予年份】：2016
【分类号】：F276.5;F272.92

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