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我国中小企业板上市公司因其自身及其管理特点,管理层持股比例明显高于其他上市公司。本文着重研究管理层持股与公司绩效的关系,对完善我国上市公司管理层持股制度提供理论支持和政策建议。一、股权与股权激励1、股权与股权激励的概念股权是指股东由于其出资而在企业中享有的权利的集合。股权激励是指广义的股权激励,即在对企业经营者及技术骨干实行的契约化管理和落实资产责任的基础上,采取多种形式,给予企业经营者及技术骨干以产权激励,使其在取得约定业绩的前提下,实现或潜在地享有本企业的部分产权,并使其权益兑现中长期化的一种产权制度安排。包括现股激励、期股激励和期权激励。本文此处所述的
Because of their own and their management characteristics, SME-listed companies in our country have a significantly higher proportion of shares held by the management than other listed companies. This paper focuses on the relationship between management’s shareholding and corporate performance, and provides theoretical support and policy suggestions on how to perfect the management shareholding system of listed companies in our country. I. Equity and Equity Incentives 1. The Concept of Equity and Equity Incentive Equity refers to the collection of rights enjoyed by shareholders in an enterprise due to their contributions. Equity incentive refers to a broad sense of equity incentive, that is, on the basis of the contractual management of the business operators and the technical backbone and the implementation of the asset liability, various forms are adopted to give the business operators and the technical backbone incentives to property rights Under the precondition of obtaining agreed performance, realize or potentially enjoy part of the property rights of the enterprise and realize the rights and interests of medium and long term institutional arrangements of property rights. Including the stock incentive, stock incentive and option incentive. This article describes here