论文部分内容阅读
股权激励因其有助于驱使企业高管选择和执行有利于提高股东利益的管理方案,激励员工努力工作、降低代理成本,在现代企业中得以广泛运用。同时,根据现代企业生命周期理论,公司发展走过孕育期、婴儿期、学步期、青春期、盛年期和老化、死亡期。结合公司发展各阶段的特点,股权激励采用的方案会有不同。高新技术有限责任公司同样适用企业生命周期理论,并具有高投入性、高技术人才密集性、高创新性、高增长性、高收益性、高风险性、人合性、封闭性等自身特征,故股权激励如要在高新技术类有限责任公司发挥其应有的作用,应顺应其各阶段的发展特性,结合公司自身特点进行因地制宜。本文分析了高新技术类有限责任公司发展各阶段的特性,并就其种子期、初创期、扩张期、成熟期、衰退期各阶段股权激励的动态运用进行了分析探讨。
Equity Incentives can encourage their executives to choose and implement management plans that are good for the interests of shareholders, motivate them to work hard and reduce their agency costs, which are widely used in modern enterprises. At the same time, according to the modern enterprise life cycle theory, the company has gone through incubation period, infancy period, toddler period, adolescence period, grandifcation period and aging and death period. Combined with the characteristics of the various stages of the company’s development, equity incentive programs used will be different. High-tech Co., Ltd. also applies the theory of enterprise life cycle and has the characteristics of high investment, high-tech talent-intensive, high innovation, high growth, high profitability, high risk, Therefore, if equity incentive should play its due role in high-tech limited liability companies, it should conform to the development characteristics of each stage and combine the characteristics of the company with its own conditions. This paper analyzes the characteristics of high and new technology limited liability companies in each stage of development and analyzes the dynamic application of stock incentive in each stage of seed, start-up, expansion, maturity and recession.