高管股票期权激励对企业绩效影响的实证研究——基于我国A股上市公司的实证检验

Executive Stock Option Incentive Empirical Study of the Impact of Enterprise Performance

通过国内外文献对高管股权激励与企业业绩关系研究的回顾,以股权分置改革后2008-2015年我国A股上市公司中实行股票期权激励的企业为样本,考虑企业规模、地区、行业等因素,首先采用因子分析方法构造了企业业绩的综合得分函数,运用描述性方法分析高管股权激励发展现状,然后建立回归模型,通过线性回归的方法实证检验高管股票期权激励对企业绩效的影响,进而分析高管激励的有效性,最后从政府和企业两个层面提出对高管实施激励制度的合理建议。

On the review of domestic and foreign executive equity incentive and corporate performance ： An Empirical Study Based on, in 2006 Equity Division Reform after China＇s A-share listed companies implement stock option incentive companies as the sample, this thesis considers the size of the different enterprise, region, industry, by factor analysis method to get the comprehensive score of corporate performance, and then uses descriptive statis-tics analysis of executive equity incentive status, and then uses linear regression model to test the relationship be-tween executive stock option incentive and corporate performance, to study the top management personnel incentive effectiveness of and from the two levels of government and enterprises, and puts forward executive stock option in-centive reasonable suggestions.