上市公司的股权激励政策对公司绩效的影响
关键词 ： 股权激励 公司绩效 盈利能力 发展能力
毕业论文外文摘要
Title An empirical study on the effects of equity incentive
of the listed corporations in China
Abstract
In recent years，more and more listed companies take to stock option incentive to manager . One hand the owner of the company think that through this equity incentive methods to combine management and shareholder interests，to make the enthusiasm of company senior management to operate，and to reduce shareholder agency costs；on the other hand，the stock option plan use less cash，that can reduce the company's cash flow pressure，and company can put funds into research and development to adapt the rapid developing society. But in our country ，the impact of equity incentive to listed company performance is not obvious. In this paper，we research on series of problems， the effect of whether take to stock options and incentive proportion， and which type of stock option can promote the growth of enterprise performance. It is great significance to promote equity incentive mechanism of our country listed company.
Keywords：The proportion of equity incentive； The proportion of equity incentive；
Profit ability；Developing ability
目 录
1 绪论 1
1.1 研究背景及意义 1
1.2 研究方法 1
1.3 研究思路 2
1.4 研究创新 2
2 文献综述与相关理论基础 4
2.1 文献综述 4
2.2 相关概念和理论阐述 6
3 我国上市公司实施股权激励的制度演进和现状分析 9
3.1 我国上市公司股权激励的制度演进 9
3.2 我国上市公司实施股权激励的现状 9
4 实证研究设计 14
4.1 研究假设 14
4.2 样本选择与数据来源 14
4.3 变量界定 14
4.4 回归模型建立 16
5 上市公司股权激励对公司绩效影响的实证检验 17
5.1 描述性统计分析 17
5.2 因子分析 19
5.3 回归分析 23
6 研究结论与政策建议 25
6.1 研究结论 25
6.2 完善我国股权激励制度的相关建议 25
结 论 28
致 谢 29