【作者】 唐莹；

【导师】 俞雪华；

【作者基本信息】 苏州大学 ， 会计硕士（专业学位）， 2020， 硕士

【摘要】 随着“大智移云”时代的到来,技术创新成为最热门的话题,高新技术企业在新时代面临着更广阔的发展前景。高新技术企业是一个国家创新能力的重要体现,我国高新技术企业发展迅速,但员工流失率高与创新投入风险大成为发展过程中的难题,股权激励作为一种长效激励机制,其有效实施能起到留住并吸引优秀人才、激励管理层制定高风险研发策略的作用。然而,我国股权激励发展与西方发达国家相比尚未成熟,目前高新技术企业的股权激励方案设计存在局限性,股权激励难以发挥应有的激励效果。此外,高新技术企业作为一类高投入、高增长、高风险的企业,发展变化远远不同于传统类型企业,其不同生命周期呈现明显不同的特点,“一刀切”式的方案设计难以满足不同生命周期的发展需要,因此本文引入生命周期视角来探究高新技术企业股权激励方案设计,研究不同生命周期的股权激励方案,有助于高新技术企业进行股权激励要素的动态设计,适应企业不同阶段发展需要,提高企业的创新能力及核心竞争力,从而提升我国的科技发展水平,因此,本文的研究具有一定意义与价值。本文首先全面剖析我国高新技术企业股权激励方案设计的现状,分析其激励方案设计中存在的问题,提出基于生命周期设计激励方案的必要性。接下来,梳理高新技术企业方案设计的原则及要求,合理划分企业生命周期,结合不同生命周期的特征、目标及人力资本需求就股权激励的核心要素提出了合理的方案设计思路。然后选取中兴通讯进行案例分析,研究其分别处于不同生命周期的两期股权激励的方案设计及实施效果,探讨其方案设计的合理性与不足之处,针对性地提出改进意见并得出本文的结论。更多还原

【Abstract】 With the advent of the era of "big data,intelligence,mobile internet and cloud computing",technological innovation has become the hottest topic,and high-tech enterprises are facing broader development prospects in the new era.High-tech enterprises are an important reflection of a country’s innovation capabilities.China’s high-tech enterprises have developed rapidly,but high staff turnover and innovation investment risks have become difficult problems in the development process.As a long-term incentive mechanism,it plays a significant role in retaining and attracting outstanding talents and inspiring management to formulate high-risk R&D strategies.However,the development of equity incentives in China has not yet matured compared with developed western countries.At present,the design of equity incentive schemes for high-tech enterprises has limitations,and equity incentives are difficult to exert their due incentive effects.In addition,high-tech enterprises,as a type of high-input,high-growth,and high-risk enterprises,have far different development and changes from traditional types of enterprises,and have different characteristics in different life cycles.The "one-size-fits-all"solution design is difficult to meet different Life cycle development needs,so this article introduces the life cycle perspective to explore the design of equity incentive schemes for high-tech companies,and studies the equity incentive schemes of different life cycles,which helps high-tech enterprises to dynamically design equity incentive elements and adapt to the development of different stages of the enterprise It is necessary to improve the innovation ability and core competitiveness of enterprises,so as to enhance the level of scientific and technological development in China.Therefore,the research in this paper has certain significance and value.This article first analyzes the status of the design of equity incentive schemes for high-tech enterprises in China,analyzes the problems in the design of incentive schemes,and proposes the necessity of designing incentive schemes based on the life cycle.Next,sort out the principles and requirements of high-tech enterprise scheme design,reasonably divide the enterprise life cycle,and propose reasonable scheme design ideas for the core elements of equity incentive based on the characteristics,goals and human capital requirements of different life cycles.Then select ZTE for case analysis,study the design and implementation effects of the two-phase equity incentive plan in different life cycles,explore the rationality and deficiencies of its design,and put forward suggestions for improvement and draw conclusions.更多还原