zghc股权激励方案及实施效果研究工商管理专业论文.docxVIP

Title：Study Title：Study on the Effect of the Implementation of Equity Incentive Plan and ZGHC Type：Master of Professional Accounting Applicant：Litao Wang Supervisor：Professor Suling Wang ABSTRACT Equity incentive as a long-term incentive system，has been widely used in westem developed countries，and there is a rich base oftheory and practice．In theory,principal—agent theory,property fights theory,human capital theory,incentive theory as the base．In equity incentive the kinds of models，there are many,in recent years the practice of other counties， restricted stock and stock options，virtual stock options，stock appreciation rights，employee stock ownership plans a variety of equity incentive model．These models not only consider the dual functions of incentive and restraint，but also take into account the cost，tax，cash flow and management issues and external internal regulatory environment，and other comprehensive factors．Show a certain degree of adaptability under certain conditions，and had a positive effect for the development of enterprises．And in research and practice，foreign the equity incentive theory research earlier,practice model is also more mature，to the enterprise incentive effect is more ideal，especially large high—tech companies，equity incentive has become a necessary means，and plays an important role in retain core talent． In the study of equity incentive，whether domestic foreign，most scholars hold such view：equity incentive for corporate performance to the positive role，is conducive to enhancing the competitiveness of enterprises，promote the stable development of the enterprise．It should be explained that this research is based this viewpoint． As in recent years，China’S state—owned enterprise reform prologue opening,the reform of ownership structure has increasingly become the priority of the reform of state—owned enterprises．This is not only related to the state-owned enterprise performance，but also related to the value of China’S state-owned assets and th