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1、摘要摘要?jiǎng)?chuàng)新能力方面的競(jìng)爭(zhēng)是當(dāng)今時(shí)代國(guó)家之間、企業(yè)之間競(jìng)相角逐的集中表現(xiàn)。黨在十八大中給出了實(shí)行創(chuàng)新驅(qū)動(dòng)的發(fā)展戰(zhàn)略具體建議,以推動(dòng)我國(guó)創(chuàng)新型國(guó)家建設(shè)。相對(duì)于傳統(tǒng)企業(yè),創(chuàng)新型企業(yè)具有自主創(chuàng)新和持續(xù)創(chuàng)新的優(yōu)勢(shì),不斷成為企業(yè)創(chuàng)新的主體,成為推動(dòng)我國(guó)經(jīng)濟(jì)發(fā)展技術(shù)的重要力量。高管人員作為創(chuàng)新型企業(yè)的領(lǐng)導(dǎo)者,所做出的一些決策對(duì)公司的發(fā)展具有重要意義,不僅會(huì)影響其當(dāng)前的經(jīng)營(yíng)業(yè)績(jī),并且對(duì)其長(zhǎng)期命運(yùn)也具有決定性作用。所以,如何有效地激勵(lì)創(chuàng)新型企業(yè)高管人員,成為其發(fā)展的一個(gè)重要問(wèn)題。股權(quán)激勵(lì)作為一種創(chuàng)新激勵(lì)機(jī)制,對(duì)降低代理成本、提高公司績(jī)效等方面具有長(zhǎng)期的激
2、勵(lì)效果,同時(shí)也能為企業(yè)吸引和留住有用之才,充分發(fā)揮公司高管的創(chuàng)造性。但股權(quán)激勵(lì)同時(shí)是一把雙刃劍,它也會(huì)產(chǎn)生一些負(fù)面影響,使高管人員做出損害公司利益的自利行為。因此,股權(quán)激勵(lì)在我國(guó)是否能真正發(fā)揮激勵(lì)作用,尤其是在我國(guó)進(jìn)行創(chuàng)新型國(guó)家建設(shè)的背景下,股權(quán)激勵(lì)能否在創(chuàng)新型企業(yè)中發(fā)揮激勵(lì)作用還有待研究。本文首先分別從代理成本和企業(yè)績(jī)效兩個(gè)角度梳理了股權(quán)激勵(lì)效應(yīng)現(xiàn)有研究成果,再對(duì)創(chuàng)新型企業(yè)高管股權(quán)激勵(lì)的相關(guān)概念及理論基礎(chǔ)進(jìn)行了闡述,并對(duì)我國(guó)創(chuàng)業(yè)板上市公司實(shí)施股權(quán)激勵(lì)的概況進(jìn)行統(tǒng)計(jì)分析,找出其存在的問(wèn)題。最后,選擇創(chuàng)業(yè)板上市公司作為研究樣本,運(yùn)用實(shí)證分析
3、方法驗(yàn)證創(chuàng)新型上市公司股權(quán)激勵(lì)對(duì)高管的激勵(lì)效應(yīng),并以實(shí)證分析結(jié)果為依據(jù)得到本文的結(jié)論:(1)股權(quán)激勵(lì)行為能夠有效減輕代理問(wèn)題,降低代理成本;(2)股權(quán)激勵(lì)行為能夠有效激勵(lì)高管人員,提高企業(yè)績(jī)效;(3)股權(quán)激勵(lì)存在區(qū)間效應(yīng),在一定區(qū)間內(nèi)適度提高股權(quán)激勵(lì)水平,有助于股權(quán)激勵(lì)效應(yīng)的充分發(fā)揮;(4)現(xiàn)階段,我國(guó)創(chuàng)新型企業(yè)股權(quán)激勵(lì)水平偏低,適當(dāng)?shù)卦鰪?qiáng)對(duì)高管人員的激勵(lì)水平,可以降低代理成本,提升公司績(jī)效。綜上所述,股權(quán)激勵(lì)在我國(guó)創(chuàng)新型企業(yè)中發(fā)揮了激勵(lì)作用,有助于推動(dòng)創(chuàng)新型企業(yè)實(shí)現(xiàn)可持續(xù)發(fā)展。關(guān)鍵詞:創(chuàng)新型企業(yè),高管人員,股權(quán)激勵(lì),代理成本,企業(yè)績(jī)效I
4、AbstractAbstractInnovationabilityistheconcentratedexpressionofthecompetitionbetweennationsandtheenterprisesinthetoday’sera.The18thCPCNationalCongressputforwardtheimplementationofthestrategyofinnovationdrivendevelopment,inordertopromotetheconstructionofinnovationorientedco
5、untry.Comparedwithtraditionalenterprises,innovativeenterpriseshaveindependentinnovationandtheadvantagesofcontinuousinnovation,constantlyasthemainbodyofenterpriseinnovation,becometheimportantforcetopromotetheeconomicdevelopmentofourcountrytechnology.Executivesasaleaderinin
6、novativeenterprises,somedecisionisofgreatsignificancetothedevelopmentofthecompany,willnotonlyaffectthecurrentoperatingperformance,andalsohasakeyroletoitslong-termfate.So,howtoeffectivelymotivateinnovativeenterpriseexecutives,becomeanimportantissueinthedevelopmentofits.Asa
7、ninnovativeincentivemechanism,equityincentivehasalong-termincentiveeffectonreducingtheagencycostsandimprovingthecompanyperformance,butalsoforenterprisestoattractandretainthetalent,givefullplaytothecompanyexecutivecreative.Buttheequityincentiveisadouble-edgedsword,italsopr
8、oducessomenegativeinfluence,allowingexecutivestomakeself-interestbehaviorofdamagetheinterestsoft