文档介绍：上市公司股权激励问题研究
摘要
从理论上讲,股权激励是一种很完美的激励管理方式。然而,在我国上市公司中目前已有超过30家企业宣布停止股权激励计划。究其原因,是国家处于对股权激励机制负面效应的考虑:股价与企业价值分离、经理人市场弱有效性、税法不完善等。本文从股权激励的概况入手,对股权激励利弊及正负效应进行了分析,并通过介绍中国如何借鉴美国的做法,以加快完善资本市场,有效设计合理的股权激励方案;实现经理人竞争上岗;分类制定税收政策;将股权激励划分为激励型和非激励型,对股权激励实行更为优惠的税收政策等。要补充文章的结构,没有补呀
[关键词] 上市公司股权激励正负效应
An Analysis Of Efficiency On Incentive Mechanism Of China's Stock Option
Abstract
According to the theory, stock option is a perfect incentive management mode. However, more than 30 enterprises in Chinese panies have declared to cease stock option incentive plan due to its negative effects: separation between share price and enterprise value, weak efficiency of manager market, and imperfection of tax law, etc. Through analyzing advantages and disadvantages of stock option incentive, and its positive and negative effects, according to American experience, China should improve capital market quickly to design rational stock option incentive plan, realize managers' job bidding, make tax policy respectively, divide stoke market into incentive and non- incentive, and take more preferential tax policy for incentive stoke option.
Key words: Stock Option Incentive Mechanism Negative And Positive Effects Efficiency Analysis
目录
引言-----------------------------------------------------------------1
一、股权激励概述-----------------------------------------------------1
(一)股权激励的内涵----------------------------------------------1
(二)股权激励产生的主要原因--------------------------------------2
(三)股权激励的方式及选择的影响因素------------------------------2
我国股权激励实施的现实状况及存在的问题---------------------------4
(一)我国上市公司股权激励的实施现状-------------------------------4
(二)我国企业股权激励制度存在的问题------------------------------5
我国上市公司股权激励的利弊---------------------------------------8
(一)股权激励的负效应--------------------------------------------8
(二)股权激励的重要作用------------------------------------------10
国外股权激励的经验借鉴及对我国的启发-----------------------------11
(一)美国股权激励的实践及经验借鉴--------------------------------11
(二)美国股权激励的实践对我国的几点启示---------