股权激励计划

股权激励计划的实施具有正反两方面的效果。

There will be positive and negative effects with the implementation of equity incentive plan .

股权激励计划在中国上市企业中仍然仅仅相当于一种变相的短期经济激励。

Equity incentive plan in Chinese listed companies are still only amount to a disguised form of short-term economic incentive .

目前，文中30家DAX指数公司使用的股权激励计划及其提供的信息无法合适或充分的被投资者所用。

Currently , the information offered and the stock-based compensation plans used by the 30 DAX companies cannot be described as appropriate and sufficient for investors .

股权激励计划市场择机及效应的实证研究

The Empirical Research on Timing and Effects of the Equity Incentive Plans

自从股权激励计划由美国律师凯尔索于20世纪60年代首次提出以来，到目前为止，已为企业界广泛采用。

A lawyer in America first put up stock ownership incentive plan at 1960s .

我国上市公司首次披露股权激励计划的市场反应分析

The Market Reaction to Listed Companies ' Initial Disclosure of Stock Option Incentive Plan in China

传统的股权激励计划采用股票价格作为评估高管的标准；

The original stock option incentive uses stock price as the standard to evaluate the senior executive .

本部分以股权激励计划的理论背景为依据，介绍了信息不对称理论和代理理论。

Based on the equity incentive theory , this part states the information asymmetry and agency theory .

样本公司偏少，股权激励计划实施后的时间较短，这两个问题制约了本文研究所需的数据不足。

The sample seems a little small , and the time of complementing equity incentive is a little short .

股权激励计划有两种不同的形式：股票激励计划和股票期权激励计划。

The plan falls into two forms : the Restricted Stock Incentive Plan and the Stock Options Incentive Plan .

股权激励计划公告前的盈余管理&来自中国上市公司的经验证据

Earnings Management prior to the Public Disclosure of an Equity Incentive Plan : Empirical Evidence from Listed Companies in China

星巴克的股权激励计划出台之际，中国企业对股票期权计划也产生了浓厚的兴趣。

The Starbucks plan comes at a time when there is strong interest among Chinese companies in stock option plans .

现有的研究将企业作为一个整体，静态的研究影响股权激励计划的因素。

The existing researches about the factors of the impact of equity incentive plan take enterprise as whole and static ones .

近年来在西方发达国家所推行的股权激励计划就是降低代理成本的有效方法。

In recent years , the Equity-based Incentive Plan facilitated in the western countries is an effective method of reducing agency costs .

然而，批评人士已警告称，中国企业的股权激励计划必须加以仔细监管，以防止出现滥用的情况。

However , critics have warned that the incentive plans at Chinese companies will have to be carefully monitored to prevent abuse .

第三，经理人操纵股权激励计划披露时间和压低计划披露前股价的机会主义行为确实存在。

Third , the managers have the opportunistic behavior of timing the equity-based incentive plans disclosure to depress the grant or exercise prices .

从研究结果来看，股权激励计划具有深刻的理论基础，能够弥补现代企业管理当中的关键性激励问题。

Results from the study , equity incentive plan has profound theoretical basis , can make up for a key motivation of modern enterprise management .

在证券市场巨幅波动的情况下，很多公司都暂停甚至取消了原定即将实施的股权激励计划，然而仍有不少上市公司仍然继续执行已推出的股票期权计划并陆续开始行权。

However , there are still many listed companies continuing to implement stock option plans which have been introduced , and gradually starting to exercise .

本研究首先介绍了该公司2006年前后长期激励计划变革的原因、过程和现行股权激励计划的特点。

The article firstly introduces the reasons why ABC Company managed to change previous long term incentive plan , the whole restructure process and features of current plan .

本文的上述研究结论，能在一定程度上帮助投资者理解股票市场对股权激励计划的反应，并为其投资决策提供参考。

This article on the conclusions , to a certain extent , helps investors understand the stock market reaction to the equity incentive plan and provide a reference for investment decisions .

最后本文还就如何提高我国上市公司股权激励计划的有效性并继而提高企业的盈余质量提出了政策建议。

Finally , we propose how to improve the validity of Incentive stock option Plan of listed companies and give some policy recommendations to increase the effectiveness of the quality of corporate earnings .

以至于到目前为止，估计有58家上市公司，停止了管理层股权激励计划。在这种情况下难免会有人对管理层股权激励的有效性产生怀疑。

By now , about 58 listed companies stop the management equity incentive plan , in which case , it is no wonder that people will doubt the validity of the management equity incentive .

本文选取了推出股权激励计划的上市公司为研究样本，利用股权激励方案中高管激励股权的比例作为自变量进行实证分析，使实证结果更加准确，更具有说服力。

This essay selects the listed companies which implement equity incentive as a sample , selects incentive rate as an independent variable . This makes the empirical results have more accuracy and more persuasive .

本模型的研究结果可为在我国资本市场有效性不强，且监控机制尚待完善的情况下，实施股权激励计划的上市公司提供理论参考。

The conclusions of this model would provide a theoretical reference for the listed companies which implement equity incentive when the capital market is not efficiency enough and the regulation mechanism needs to be improved .

同时在研究了条件更为严格的第二次股权激励计划的方案后对上海家化公司即将实施的第二次股权激励计划提出了一些建议。

While conditions have been studying more stringent second equity incentive plan of Shanghai Jahwa United Company is going after the implementation of the programme of the second equity incentive plan makes a number of recommendations .

制动机制在股权激励计划不宜或无法继续推行的特定情形出现时生效，以最大限度的降低可能出现的风险及损失。

Brake mechanism turns to be effective when the particular incident occurs that the stock incentive is unsuitable or unable for continuation and so to reduce the possible risks and potential losses to the maximum extent .

连动机制贯穿股权激励计划的整个运作过程，通过动态绩效考核对股权激励进行全程的跟进、监控和优化、调整，并通过股权文化建设保证激励计划的顺利、有序实施。

Gear mechanism passes through the whole process of the incentive implementation . It is mainly for the optimization and adjustment of the incentive plan through dynamic performance appraisal and cultural development which ensure the smooth and orderly implementation .

国有和民营上市公司通常对高管采用薪酬与业绩挂钩、年终考核制度、年薪制或者股权激励计划等激励方式来调动高管的工作积极性以提高公司业绩。

Executives of private enterprises often use performance-related pay , year-end performance appraisal system , the annual salary system , or equity incentive plans and other incentives to mobilize the enthusiasm of the working executives to improve company performance .

基于激励综合理论设计的问卷调查，发现了员工对股权激励计划本身、对企业的忠诚度、和对绩效管理、目标管理以及职业发展等方面的反馈意见。

Through the questionnaire designed based on compressed theory of incentive , it collected the feedbacks from employees about the program itself , their loyalty attitude to company , and inputs to performance management , objective management and career development perspectives .

其中启动机制完成对股权激励计划中激励对象、激励工具、股权数量、股权来源、激励时机、股权管理等各关键要素的系统性、连贯性设计，促成股权激励从设想到实施的实质性突破。

Start mechanisms includes the coherent design of incentive target , incentive tools , the number of shares , stock sources , incentive opportunity , stock management and other key elements , so to promote stock incentive from the tentative plan to substantive breakthrough .