上市公司股权激励与综合绩效关系的实证研究.docVIP

PAGE PAGE 22 上市公司股权激励与综合绩效关系的实证研究 摘要：我国的资本市场当前正处于制度建设时期，上市公司的股权激励制度，成为最关键的长期激励机制已经被提上日程，是推动我国公司治理结构的改善，促进我国资本市场同国民经济不断健康发展的重要机制之一。本文以我国在2010年至2013年期间实施股权激励的175家上市公司作为研究样本，使用因子分析法对上市公司综合绩效进行评价，剖析上市公司股权激励与综合绩效的关系，建立模型并进行实证分析，从而为改进公司的治理结构，提升企业的业绩提出方法和建议。 关键词：股权激励；综合绩效；因子分析 The Empirical Research on the Relationship between Stockholders’ Rights Inspiring and Their Synthetical Performance Abstract: Now Chinas capital market is in a period of the system construction. The stock incentive system of the listed companies, as the most critical long-term incentive mechanism, has been put on the agenda as one of important mechanisms that promotes Chinas corporate governance structure, improves Chinas capital market with the healthy development of the national economy as one of important mechanisms. This text aims to select 175 national HYPERLINK app:ds:listed \t listed companies which carry out equity incentive during the period of 2010 and 2013 with data as samples,to use the factor analysis method to evaluate the synthetical performance,to analyse HYPERLINK app:addword:analyse \o 添加到单词本 the relations between equity incentive and synthetical performance of the listed companies and to build a model and make a empirical research. As a result HYPERLINK app:addword:consequently \o 添加到单词本 ,I put forward countermeasures and suggestions to improve the corporate governance structure and enterprise performance. Key words: equity incentive;synthetical performance;the factor analysis 目 录 TOC \o 1-3 \h \z \u HYPERLINK \l _Toc25115 1 引 言 PAGEREF _Toc25115 1 HYPERLINK \l _Toc27533 2 国内外研究现状 PAGEREF _Toc27533 1 HYPERLINK \l _Toc27872 2.1 国外研究现状 PAGEREF _Toc27872 1 HYPERLINK \l _Toc24991 2.1.1 无显著相关关系 PAGEREF _Toc24991 2 HYPERLINK \l _Toc25648 2.1.2 显著正相关关系 PAGEREF _Toc25648 2 HYPERLINK \l _Toc6466 2.1.3 显著负相关性 PAGEREF _Toc6466 2 HYPERLINK \l _Toc26155 2.1.4 非单调线性关系 PAGEREF _Toc26155 2 HYPERLINK \l _Toc5060 2.2 国内研究现状 PAGEREF _Toc5060 3 HYPERLINK \l _Toc100