上市公司实施股权激励存在的风险及对策研究--以海大集团为例

Study on the Risks and Countermeasures of Equity Incentive in Listed Companies--Take Haida Group as an Example

股权激励的诞生被认为是有效缓解委托代理问题的工具之一,它通过促使经营者以“主人翁”身份积极参与企业管理,使企业获得可持续发展机会。已有文献重点关注股权激励效果,鲜有文献讨论股权激励实施可能存在的风险及对策。本文以上市公司海大集团为例,探讨其股权激励实施中可能存在的风险并提出控制风险的对策。研究结论有助于上市公司在实施股权激励过程中有效规避风险,更好地实现企业股东价值最大化和企业价值最大化。

The birth of equity incentive is considered to be one of the effective tools to alleviate the principal-agent problem.It enables enterprises to obtain sustainable development opportunities by encouraging the managers to actively participate in the operation and management of enterprises as“masters”.The existing research focuses on the effect of equity incentive,rarely discusses the possible risks and Countermeasures of equity incentive implementation.Taking Haida group,this paper discusses the possible risks in the implementation of equity incentive and puts forward the countermeasures to control the risks.The conclusion is helpful for listed companies to effectively avoid risks in the process of implementing equity incentive,and better realize the maximization of shareholder value and enterprise value.