公司治理对股权激励方式选择的影响——基于中国资本市场的实证分析

从内部视角出发,利用代理成本、控制权等理论,研究公司治理对股权激励方式选择的影响,提出高管持股比例、董事会结构、终极控制人性质、股权集中程度、董事长和总经理的两职设置等变量对股权激励方式选择的影响途径及后果,并选择我国资本市场已实施股权激励的样本公司进行了实证研究。

The Effect of Corporate Governance on the Selection of the Equity Incentive Forms-Based on the Empirical Analysis of Chinese Capital Markets

This paper explores the effect of corporate governance on the selection of the equity incentive form using proxy theory and control right theory from an internal view.We suggest that corporate governance variables such as the percentage of managerial ownership,board structure,large shareholder,the CEO-chairman duality have a great effect on the selection of the equity incentive form and the economic consequence.Finally,we use the listed companies that have already carried out the equity incentive to test ou...