互联网上市公司管理层激励与企业绩效实证研究

针对互联网这一新兴产业,分析了企业绩效与相关上市公司管理层激励之间的关系。研究结果表明,在互联网上市企业中,"报酬——契约"机制依旧有效,而为了促使企业更有效地应对市场竞争,应继续从其他行业借鉴引入科学的管理层薪酬激励方法,如改进管理层人员的薪酬结构、加强对管理层人员的监管力度等;而管理层股权激励的效果则还不够显著,这可能与互联网公司属于新兴行业不够稳定、短期内管理层不愿意持有较多公司股份有关。企业应积极完善股权激励机制,利用股票期权或可转换证券等多样的方法来避免股权激励措施过于单一。

This paper analyzes the relationship between enterprise performance and managerial incentives of the relevant listing Cor- poration in the Internet industry. Research results show that in the Internet listed companies, the reward contract mecha- nism is still effective, In order to encourage enterprises to respond more effectively to the market competition, the scientific management salary incentive method should be scientific. And the effect of management equity incentive is not significant, may be related to the Internet listing corporation is not stable enough, the short term management is not willing to hold more shares of the company, and management is not willing to hold more shares of the company in the short term. Enter- prises should improve the equity incentive mechanism actively, and avoiding the single of equity incentive measures by taking stock options and convertible securities.