我国上市公司股票增值权的博弈分析

Game analysis of the stock appreciation rights of the listed companies in China

股票增值权的激励模式在我国上市公司已实施数十年,然而,实施的过程中仍有许多不足。从股票增值权激励的对象入手,对股票增值权利益相关对象的博弈进行了研究,得到股票增值权计划的条款不能使得双方利益均衡时,依然难以有效激励员工、增加股东利益。

The incentive pattern of stock appreciation rights in listed companies in China have been implemented for decades, however, still left much to be desired in the implementation process. Starting with objects from incentive stock appreciation rights, studied the stock appreciation rights related objects of interest game, get stock appreciation rights plan in terms not so that when the balance of mutual interest, remains hard to effectively motivate employees, increase shareholder value.