创业板股权激励研究.doc

摘要 新经济时代是一个创新时代，其发展的根本动力在于如何让人的创新能力得到发挥，如何将知识转化为资本人力资本。股权激励给我们提供了一条十分有效的途径。Abstract The new economic era is an innovation era, its development is the fundamental power to make innovation ability of the person get play, how be knowledge into capital human capital . equity incentive drive provides us with a very effective way. Since December 30, 2009 Chinas capital market since the introduction of the GEM, the GEM rapid increase in the number of listed companies, and currently has as many as 210. Pre-IPO equity incentive can be seen in the GEM is already a common phenomenon, which are vastly different from the board and small plates. To maintain the performance of sustained high growth, equity incentive seems to be generally good. However, the equity incentive is double-edged sword, it can also lead to a widening wealth gap or accounting fraud. We should adopt the policies and measures to improve the internal operation of the Chinese equity incentives and the external environment. This article will focus on the growth enterprise market, the status of listed companies and equity incentive reasons specific empirical research and the establishment of proposed equity incentive model for further selection and program design and to enhance and improve our company listed on GEM equity incentive policies recommendations. Key word: GEM; Equity Incentive; Mode Selection; Value; Stock price; Exercise price 目录 一、绪论 1 （一）写作背景 1 （二）文献综述 2 1、国外研究综述 2 2、国内学术研究 3 （三）研究思路 4 二、我国创业板上市公司及其股权激励的形成和发展 6 （一）我国创业板的发展历程 6 1、创业板市场的形成 6 2、创业板上市公司的基本情况 7 (二) 我国创业板股权激励的形成和发展 9 1、我国股权激励的形成和相关理论 9 2、创业板市场上市公司的股权激励 11 三、我国创业板上市公司股权激励的相关分析 15 (一)股权激励对我国创业板上市公司价值的影响 15 (二)股权激励对我国创业板上市公司股价的影响 17 四、我国创业板上市公司股权激励案例分析 20 (一)碧水源公司股票期权激励方案 20 (二)碧水源股权激励方案对其股价的影响 23 五、我国创业板上市公司股权激励的进一步讨论 25 （一）创业板上市公司实施股权激励的诸多问题 25 （二）创业板上市公司股权激励的进一步完善 25 六、研究结论与政策建议 28 （一）研究结论 28 （二）政策建议 28 致谢 32 参考文献 33 附录 35 Abstract 1 introduction 1 1.1 writing background 1 1.2 Literature Revi