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巿场经济的发展和国有企业改革的深入,使得中国传统薪酬制度的弊端日益显露。一方面所有者缺位、内部人控制的现象层出不穷,另一方面一批优秀的企业家鞠躬尽瘁却无回报,虽然为了激励和约束经营者,改革开放20年来,我国在收入分配制度方面进行了一系列的探索,但是从承包责任制、资产经营责任制到租赁制、委托代理制乃至1994年开始实行的年薪制,都没能够把经营者和企业所有者的利益紧紧结合起来,都没有取得预期的效果。时势所趋,以股票期权为代表、在西方发达国家风靡多年的持股激励制度开始叩响中国大门,历经经济学家的理论论证,部分企业的实践探索,各地不同政府部门的政策支持,具有中国特色的期股激励机制终于初具雏形。本文试着通过对武汉国经、绍兴百大、天津泰达和福建三木这四个比较典型的实行期股激励的公司比较研究,分析不同区域的期股政策,以期有利于今后我国企业激励制度这方面进一步的探索和实践。
The development of the market economy and the deepening of the reform of state-owned enterprises make the drawbacks of the traditional Chinese pay system increasingly apparent. On the one hand, the lack of owners, the phenomenon of insiders control after another, on the other hand, a group of outstanding entrepreneurs spared no effort in return, although in order to motivate and restrict operators, 20 years of reform and opening up, China's income distribution system carried out a Series of exploration, but from the contract responsibility system, the asset management responsibility system to the rental system, the principal-agent system and even the annual salary system started in 1994 failed to combine the interests of managers and business owners, have not made Expected results. The trend of the times, the stock options as the representative, in the western developed countries swept the years of the stock incentive system began knocking on China's door, after economists theory, some enterprises to explore the practice of different government departments around the policy support, with China's stock option incentive mechanism has finally begun to take shape. This article tries to analyze the different period of the stock option policy in order to benefit the future enterprise incentive system in our country through the comparative study of four typical companies such as Guoguang, Shaoxing Baida, Tianjin TEDA and Fujian Miki. Further exploration and practice.