【作者】 宋伟；

【导师】 薛明皋；

【作者基本信息】 华中科技大学 ， 工商管理（专业学位）， 2024， 硕士

【摘要】 近年来,汽车行业发展竞争激励。国内原有的大型国有传统燃油车制造企业及一些合资企业,在新能源汽车领域并未实现领先,反而面临业务升级和转型的压力;新势力造车公司的大量涌现及新能源汽车的快速发展正在推动汽车产业的变革和行业结构的调整。新势力汽车公司通过高薪酬与高激励从行业招聘团队,从而对传统企业形成了巨大冲击。其中,实施股权激励已成为企业吸引与留住人才、提高研发与创新等能力的重要方法。本文首先对股权激励相关理论和概念进行了阐述,指出了股权激励的不同模式及其适用范围与特点。其次以国有上市公司—GX汽车零部件公司的实际案例为研究对象,对其实施股权激励的原因进行了深入分析,从建立“资本所有者—经营者”利益捆绑机制、降低经营成本、优化管理架构、实现整体战略目标、提高市场竞争力五个方面归纳出其实施股权激励的动因。再次,通过净资产收益率、市场净利润、研发投入等指标,分析股权激励实施前后的运行效果及分析激励目标的实现状况。针对其预设定的指标,结合公司运行的实际情况以及同行业企业数据的对比分析,发现GX公司实施的股权激励方案存在宏观经济环境影响过大、选取的业绩考核指标不够多样化、业绩考核设定的指标较高、业绩考核的标准弹性不足等问题。最后,提出了具体的改进措施,即结合公司内外发展的环境,应择取合适的实施时间、设置适合的行权条件、设置合理的行权价格、选择合理的股权激励模式,以使股权激励能够不断完善,并发挥其应有的效力。本文希望通过对GX公司股权激励及实施效果的分析,能够对GX公司后续实施股权激励提供指导,同时为中国市场其他同类国有汽车零部件上市公司实施股权激励提供参考和借鉴。更多还原

【Abstract】 In the past few years,The automobile industry is characterized by intense competition in its development.The original large state-owned traditional fuel vehicle manufacturing enterprises and some joint ventures in China have not achieved leadership in the field of new energy vehicles,but are facing the pressure of business upgrading and transformation;The emergence of a large number of new power car manufacturing companies and the rapid development of new energy vehicles are promoting the change of the automobile industry and the adjustment of industry structure.New force Auto companies recruit teams from the industry through high salaries and incentives,thus forming a huge impact on traditional enterprises.Among them,The implementation of equity incentive has become an important method for enterprises to attract and retain talents and improve the ability of research and development and innovation.Firstly,this dissertation expounds the relevant theories and concepts of equity incentive,points out the different models of equity incentive and their applicable scope and characteristics.Secondly,the actual case of GX Auto Parts Company,a state-owned listed company,is taken as the research object,and the reasons for implementing equity incentive are deeply analyzed.The motivation of implementing equity incentive is summarized from five aspects:establishing"capital owner-operator"benefit binding mechanism,reducing operating cost,optimizing management structure,realizing overall strategic goal and improving market competitiveness.Thirdly,through the return on equity assets,market net profit,research and development investment and other indicators,Assess the operational impact of equity incentives pre-and post-implementation,and evaluate the attainment of incentive objectives.According to the pre-set indicators,combined with the actual situation of the company’s operation and the comparative analysis of the data of enterprises in the same industry,it is found that the equity incentive plan implemented by GX company has some problems,such as excessive influence of macroeconomic environment,insufficient diversification of performance assessment indicators selected,high performance assessment indicators set,and insufficient flexibility of performance assessment standards.Finally,Specific improvement measures are put forward,that is,according to the internal and external development environment of the company,appropriate implementation time,appropriate exercise conditions,reasonable exercise prices,and reasonable equity incentive mode should be selected to make the equity incentive improve constantly and play its due effect.By analyzing the equity incentive and its implementation impact on GX Company,this study aims to offer guidance for future equity incentive programs at GX Company,while also providing insights for similar state-owned auto parts listed companies in the Chinese market."更多还原