中国建设银行总行股权激励若干问题研究.docVIP

中国建设银行总行股权激励若干问题研究 北京理工大学工商管理硕士(MBA)学位论文 摘要 对经营者的激励问题来源于现代企业的所有权和经营权分离,为了解决两权 分离带来的代理成本问题,需要探讨将代理人与委托人的利益结合在一起的机 制。股权激励制度始于 20 世纪 50 年代,在美国等西方发达国家得到广泛应用, 促进了经营者和所有者利益的一致性,减少了经营者的机会主义行为和所有者对 其进行监督的成本。 近年来,我国上市公司逐渐地在其经营改革中探索实施股权激励,取得了一 定成效,但我国现有的政策与环境阻碍了股权激励制度的建立及其作用的充分发 挥。笔者通过调研,对中国建设银行总行提出的期股、期权激励方案进行了分 析。首先,简要的阐述了国内外股权激励相关理论和实践研究;然后,在调研的 基础上,对建设银行总行股权激励方案的基本情况进行了概括描述;接下来,针 对实施股权激励存在的重点问题和影响因素进行了分析;昀后,以建设银行经营 者作为实施对象,进行了股权激励机制的整体方案设计。 关键词 建设银行;股权激励;激励机制;期股;期权 II 北京理工大学工商管理硕士(MBA)学位论文 Abstract The problem on the executive’s incentive plan is derived from the division of the rights of the ownership and operationIn order to solve such problem, it is necessary to design a mechanism to connect the benefits of the principals and agents tightly The modern stock incentive plans have been introduced extensively since 1950’s, which reaches the consistency between the stockholders and managers, as well as reduces the opportunism behavior and the supervision costsRecently, many Chinese companies adopted the stock incentive plans in operation reformHowever, the current policy and environment block the build-up of the stock incentive plan as a whole. The author proposed to the headquarters of china construction bank corporation head drove that the plan makes the preliminary introduction and the further discussion. First, brief elaboration domestic and foreign stockholders rights drive correlation theories and practice research; Then, in the investigation and study foundation, to the china construction bank corporation general headquarters stockholders rights drove that the plan the basic situation has carried on the summary description; Then, in view of the implementation stockholders rights drove that the existence the key question and the influencing factor have carried on the analysis; Finally, the china construction bank corporation operator takes the implementation object, has carried on the stockholders rights incentive mechanism