我国民营企业股权激励机制的研究

摘要借助于现代企业治理理论与西方治理实践得出，股权激励可以更好地处理代理人激励的问题，给予其长期激励。与我国的资本市场的发展相对应的我国股权激励机制的发展阶段，先后经历4次高潮，实施主体逐渐由国有企业转向民营企业。近几年，随着我国创业板、“新三板”的发展，股权激励机制的发展势头更加迅猛。但东西方各个方面的差异巨大，中国近几年对股权激励机制的研究大多还是照搬西方，这样一成不变的拿来就用必然存在适用性的问题。股权激励机制的发展一直没有取得理想的效果让人产生了很多思考：为什么我国的国有企业在推行股权激励机制的过程中却一直困难重重？股权激励机制在企业中发挥作用的机理究竟如何？基于中国的国情，要在我国的企业中间实施股权激励机制需要作出哪些调整？这一系列问题的解决都非常重要。30526
本文在分析相关理论所奠定的基础之上，对股权激励机制的相关机制与要素进行深入剖析，进而对其实施的内外部环境与结构进行探析。最后以华为公司的股权激励为案例，分析其过去几年快速发展基于的股权激励机制的成功因素，分析其目前存在的问题，总结提出改善股权激励机制的建议。
关键词股权激励契约结构公司治理外部环境华为公司
毕业论文外文摘要
Title Research on the incentive mechanism of private equity in China-- in Huawei's case
Abstract
Research and practice of western corporate governance and the modern enterprise theory has proved that, the equity incentive is an important means of corporate governance, can solve the problem effectively incentive, long-term incentive of occupation managers. The development of equity incentive mechanism in China is related to the development of capital market in China, and has experienced 4 heats, the main body gradually from the state-owned enterprise to the private enterprise. In recent years, with the gem, the new three board development, the momentum of development is more rapid. But the equity incentive was based on the western countries' political and economic environment and developed capital market , there is a great difference in history, culture, politics and economy etc.. Research on the incentive mechanism of stock ownership in China in recent years, mostly bring such rigid, with the applicability of the problem. The previous equity incentive practices fail to produce a lot of confusion: why China's state-owned enterprises in the implementation of equity incentive can’t achieve the desired effect? What is the internal logic of equity incentive? Which rules to comply with of implementation of equity incentive in the actual circumstances in China? Therefore, based on the reality of China's national conditions, the study of Chinese enterprise equity incentive mechanism and its implementation is very necessary.
This paper makes a deep analysis of equity incentive mechanism, the implementation elements; Analyzing the contract structure design of the implementation of equity incentive, at the same time, the internal corporate governance and external system environment will be talked. The paper analyze a case of Huawei's equity incentive for factors of success over the past few years, then to analyze of the existing problems, put forward how to improve the equity incentive mechanism, and put forward the contemporary enterprises' enterprise characteristics, internal governance, external governance structure problems.
Keywords equity incentive contract structure corporate governance external environment Huawei 我国民营企业股权激励机制的研究:http://www.751com.cn/kuaiji/lunwen_26268.html