摘要
以2006至2009年A股上市公司为样本,实证检验了我国上市公司选择期权激励的主要影响因素。结果表明,当公司成长机会多、机构投资者持股比例高时,上市公司选择期权激励的概率就越高;当公司规模大、风险高、股权集中、现金流充沛及监管严格时,上市公司选择期权激励的概率就越低。
Selecting A-share listed companies from 2006 to 2009 as samples,this paper empirically examines the primary determinations of China＇s listed companies to choose stock option motivation.The results show that firms with more growth opportunities and higher institutional investors holding have more probabilities to choose stock option motivation;firms with bigger size,higher risk,higher equity concentration,abundant cash flow and rigorous regulation have lower probability to choose stock option motivation.
出处
《软科学》
CSSCI
北大核心
2010年第10期87-92,共6页
Soft Science
关键词
期权激励
影响因素
LOGIT回归
stock option motvation
impact factors
Logit regression
