企业高管激励约束机制的动态分析

The Dynamic Analysing on the Incentive Constraint Mechanism of the Enterprises' Executives

企业在其生命周期不同阶段的发展特点、战略目标以及高级管理者的需要是不一样的。为了驱使企业高管能在适当的阶段根据环境的不同产生不同的行为、降低由于道德风险和逆向选择的存在可能带来的损失,企业需要在不同发展阶段采用不同的激励约束机制,随企业发展需要而有针对性、动态地对高管实施激励约束,最大化高管的激励约束效用。

According to life cycle theory of enterprises, the developing process of enterprises can be divided into four phases： creating, growing, mature and declining. In different phase, the enterprises face different environment and require different strategies which are adopted by enterprises＇ executivws who have specific needs in certain stage. In order to prompt the executives produce the expected reasonable action to meet the dynamic strategic requirements, different incentive constraint should adopted.