股权激励对企业绩效的影响研究  

Research on the Effect of Equity Incentive on Corporate Performance

作　　者：谷文林[1] 李爽[1] 尹雨萱 

机构地区：[1]河海大学商学院,江苏南京211100

出　　处：《武汉理工大学学报（信息与管理工程版）》2017年第6期733-737,共5页Journal of Wuhan University of Technology：Information & Management Engineering

基　　金：国家重大社科基金项目(11ZD168);江苏省社科基金青年项目(11GLC011)

摘　　要：以中小板制造业上市公司2013—2015年的数据作为研究样本,投资效率为中介变量,建立回归模型,探究股权激励对企业绩效的影响。结果表明,我国中小板制造业普遍投资不足,并对企业绩效产生显著的负向影响;而股权激励能够有效抑制非效率投资,提高公司的投资效率,有效提升公司业绩,投资效率在其中起到部分中介作用。Based on the data of manufacturing listed companies on small and medium-sized board,this paper establishes the regression model to study the effect of the equity incentive on the enterprise performance by using the investment efficiency as the mediator variable.The results show that China's small and medium-sized plate manufacturing industry generally lack of investment,and corporate performance have a significant negative impact.Equity incentive can effectively curb inefficient investment,improve the company' s investment efficiency,effectively enhance the company' s performance,investment efficiency in which play a part of the intermediary role.

关 键 词：股权激励 企业绩效 投资效率 

分 类 号：F275.5[经济管理—企业管理]