股权激励与经营者行为选择论

从理论分析的角度分析了股权激励对企业经营者行为选择的影响,而经营者的这种行为选择最终会体现在企业的业绩上面。然后选取了中国上市公司作为样本,对中国企业实施股权激励对于经营者的行为选择并且该选择的结果即企业业绩的相关性进行了实证研究,研究结果发现:对于上市公司,经营者持股在一定的持股比例范围内会选择“努力工作”行为,与企业的业绩正相关。

Equity Incentives and Behavior Choice of the Proprietors

This paper,form a perspective of theoretic analysis,analyzes the effects of equity incentives on the behavior choice of the enterprises proprietors,which in turn is reflected in the achievements of the enterprises.Then,with the listed companies of China as samples,this paper makes an empirical research into the correlation between equity incentives and the behavior choice of the enterprise proprietors as well as that between such a choice and the achievements of the enterprises.The findings indicate that for those listed companies,the proprietors who hold a certain percentage of shares will choose to work hard and will contribute positively to the achievements of the enterprises.