摘要
股票增值权作为公司长效激励的工具,在我国境内外上市公司中得到了一定的运用。本文通过分析我国上市公司股票增值权计划中各参数的选取,重点研究了股票增值权对公司绩效的影响。研究表明,在我国上市公司的实际运用中,股票增值权确实能长期有效激励高管人员,但是短期激励作用更明显。目前的股票增值权计划还存在一定缺陷,尚不能完全有效满足上市公司的激励需求,需要进一步完善。
As a tool of long-term incentive in companies,stock appreciation right has been used in listed companies in China and abroad.Through the analysis of the content and the various parameters of the stock appreciation right plans,we study the impact of the performance of stock appreciation right in corporates.This research shows that stock appreciation right can motivate executives in the practice of Chinese listed companies,but it has fewer effects in the long-term than in the short-term.With some defects,stock appreciation right plan can not effectively meet the needs of listed companies.
出处
《系统工程》
CSSCI
CSCD
北大核心
2012年第3期92-98,共7页
Systems Engineering
关键词
股票增值权
上市公司
绩效
Stock Appreciation Right
Listed Companies
Performance
