【作者】 王德武；

【导师】 宋力；

【作者基本信息】 沈阳工业大学 ， 会计学， 2003， 硕士

【摘要】 股权激励作为对公司经营者的长期激励与约束的重要手段越来越受到企业界和理论界的重视。原因在于它有利于改善公司治理结构，促使公司股权结构多元化，保障公司的可持续发展。本论文就是沈阳市科委基金项目—沈阳市员工持股方案研究的部分研究成果。 本文介绍了股权激励的现实意义，对世界上各国企业运用股权激励的现状及效果和我国企业股权运作的实践进行了对比分析。指出股权激励的理论基础是委托代理理论、人力资本理论和现代激励理论。 对企业经营者的股权激励方案的设计是本文的重要部分。首先，文章对企业股权激励模式的分类进行了详细汇总，并对不同企业应适合何种股权激励模式进行了具体划分；其次是对经营者股权激励方案进行了要素设计，从七个方面进行。论文重点讨论了股票来源要素中的国有股减持，分析指出如果以合适的分配率，在合适的时间，以法律的形式把国有股一分为二：一部分作为经营者的股权来源，一部分作为对员工的福利，并规定在若干年内锁定，这不仅解决了国有股一股独大的问题，还可使得企业股权多元化，也部分解决了员工的社会福利保障问题，可谓一举多得。在论述激励对象及其业绩评价问题时，文章从激励评价对象的行为导向和成果导向两方面考虑，重点分析设置了公司的董事长、总经理和财务副总经理的业绩评价指标体系，充分体现其实用价值和创新点。 论文最后对股权激励的成效进行分析，指出了股权激励的优势和弊端。更多还原

【Abstract】 As an important method to managers’ long-term incentive and control, stock options incentive is more concerned by business world and theory world. The main reason lies in that it can improve business management structure, make stock holding diversity and keep business gradually develop. The dissertation is a part of research results that comes from Shenyang city’s staff stock holding plan of scientific and technical committee fund project of Shenyang city.The dissertation introduces practical sense of stock options incentive, compares the position and effect when using stock options all over the world with those of our nation’s practice and points out theory basis of stock options incentive: entrust-agent relation\human resource theory and modern incentive theory.The most important part of it is to design key units of business operators’ or manager’s stock options incentive plan. First, it illustrates all kinds of stock options models in details and divides into different businesses concerned with special models; second, it designs key units of business operators’ stock options incentive plan from seven aspects. It mainly discusses decrease of state-owned stocks of stock resource unit and points out it will benefit many sides if state-owned stocks be divided into two parts: one as a kind of stock resource to managers, the other as welfare defend for staff under proper ratio, suitable time and proper law and be fixed in several years. Meanwhile, the thesis mainly analyzes and designs board chair, general manager and financial manager performance evaluating index system from behavior and result direction. It fully reflects its practical value and innovation.At last, the thesis analyzes advantage and false of stock options incentive.更多还原