高新技术企业股权激励对公司绩效的影响高新技术企业股权激励对公司绩效的影响一以中兴通讯为例摘要：股权激励是最适合企业未来长期发展的激励制度，也是行之有效的激励模式。这种模式通过给予激励对象公司股票或者与股票相关收益的权利，达到使公司长久发展的目的。股权激励一方面令激励对象追求自身利益最大化，提高效率，使公司价值增值；另一方面可以对高管人员进行行权约束，符合公司实际情况的行权条件可以更好的促进公司的长久发展。高智能、高投入、高风险是所有信息技术上市公司固有的特点，该类公司的基本结构问题在理论和实务界有着广泛的关注。我国实行股权分置改草之后，此行业也在积极实施股权激励，并且在实施股权激励的各类行业中居首，这是由其内在特性决定的。高科技企业以人力资本、知识资本为核心，更适合推行股权激励制度。股权激励制度使股权激励者与企业在某种程度上成为一个整体，风险共担、利益与共。我国对股权激励制度研究相对较晚，在我国现阶段的现实环境下，结合企业实施此制度的试，点情况，本论文试图通过中兴通讯股权激励与公司绩效的关系分析，来为我国高新技术奇特企业实施此制度的发展方向提出：构想与建议，从而更好的完善企业治理结构，增强企业竞争力。关键词：上市公司：盈利能力；评价指标：层次分析法高新技术企业股权激励对公司绩效的影响Tech enterprises equity incentive effect on company performance-ZTE CaseAbstract:Equity incentive is the most suitable for the company's future long-term incentivesystem development,but also an effective incentive model.This model by giving incentivetarget company's shares or rights associated with stock returns,the purpose of thecompany's long-term development.Equity incentive incentive target on the one hand tomake the pursuit of maximizing their own interests,improve efficiency,the company's valueadded;on the other hand can be executives exercise restraint in line with the actual situationof vesting conditions can better promote the company's long-term development.High intelligence,high investment,high risk is an inherent feature of all listed companiesin information technology,the basic structural problems of such companies in the theory andpractice has extensive attention.China's implementation of equity division reforms,thisindustry is also active implementation of equity incentive,and topped in a variety ofindustries in the implementation of equity incentive,which is determined by the inherentcharacteristics of the decision.Tech enterprises in human capital,knowledge capital as thecore,is more suitable for the implementation of equity incentive system.Equity incentive equity incentive system so that those who in some way with theenterprise as a whole,risks and benefits the community.Our study of the equity incentivesystem relatively late in China's current reality,combined with the implementation of pilotbusiness case of this system,this paper attempts relationship ZTE equity incentive andcorporate performance analysis to enterprises of China's high-tech peculiar implementationof the development direction of this system with the idea put forward proposals to betterimprove the corporate governance structure,enhance the competitiveness of enterprises.Key words:Equity Incentive;Corporate Performance;High-tech enterprises高新技术企业股权激励对公司绩效的影响目录1.引言11.1研究背景与意义…1.2国内外研究现状及文献综述11.2.1国外文献综述…1.2.2国内文献综述1.2.3研究评述与启发21.3研究方法21.4研究目的…22.理论基础22.1股权激励的概念和类型22.1.1股权激励的概念…2.1.2股权激励的类型…2.2股权微励理论42.3公司绩效评定方法.52.4关于股权激励与公司绩效关系的研究理论.53.股权激励方案介绍63.1高新技术行业概况.63.2公司概况..83.4实施股权激励的可行性分析…3.6公司股权激励的特点4.公司绩效分析104.1公司绩效纵向分析.104.2公司绩效横向分析…114.2.1与同行业内未实施股权激励的企业对比.114.2.2与同行业内已实施股权激励的企业对比.114.3公司股权激励与绩效的关系结论.115.股权激励成功的原因和适用性分析…5.1股权激励成功的原因.125.2股权激励的适用性分析….126.1本文结论.126.2对高新技术企业应用股权激励的建议.…13