股权投资和企业股权激励机制-产业经济学专业论文.docxVIP

暨南大学硕士学位论文 暨南大学硕士学位论文 Abstract As for the equity investment, investing is only the beginning of the relationship with the enterprise, management business after the investing is the most important. Supervisory control is one of the two elements of the management business, which include the design of incentives mechanism. As for the enterprise, short-term incentives and long-term incentives make up the incentives mechanism; the former cannot encourage the incentive target to face the companys future. Therefore, the long-term incentive equity incentive mechanism design becomes particularly important. Based on the above, this paper studies whether the equity investment bring new features to design of long-term incentive - equity incentive mechanism of the portfolio companies involved. Through theoretical analysis and empirical regression analysis, we draw the following conclusions: firstly, equity investment enterprises involved tend to layout the higher the intensity of equity incentives , the number of equity incentive objects were significantly higher than the number of non-equity investment enterprises involved; secondly, equity incentive and corporate performance intensity showed a significant positive correlation, the more the number of objects the better incentive business performance . Conclusions indeed prove the involvement of equity investment bringing new features to the enterprise equity incentive mechanism design, and this new feature can effectively promote enterprise performance improvement. The conclusion can provide theoretical guidance for the practice of the management business. Through empirical research we get some new conclusions and a little progress, but because of the difficult in collecting and collating data, the data used may be not mature enough, this is the future research direction for improvement. Key Words：Equity Investment; Equity Incentive; Micro perspective III PAGE PAGE 1 1 绪论 1.1 选题背景与意义 股权投资的概念界定，并无定论，广泛意义上，将股权投资理解为：以非公开方式募 集，