关于公司股权激励有效性与企业代际传承研究——基于中国民营上市公司的数据  

Research on the Effectiveness of Corporate Equity Incentive and the Intergenerational Succession of Enterprises--Based on Data of Chinese Private Enterprises

作　　者：叶秋彤 熊泽胥 YE Qiu-tong;XIONG Ze-xu(Intermnational Business School,Jinan University,519000,Zhuhai,Guangdong,China)

机构地区：[1]暨南大学国际商学院,广东珠海5190001

出　　处：《特区经济》2020年第4期126-130,共5页Special Zone Economy

摘　　要：本文以2013-2017年间的509家沪深A股民营企业为研究对象,运用多元回归模型探究企业代际传承与民营上市企业股权激励有效性的关系。实证研究结果显示,企业创始人管理的企业中股权激励水平与公司的相对业绩存在显著的正相关关系,而代际传承后的上市民营企业里,股权激励近乎无效。Taking 509 A-share private enterprises from 2013 to 2017 as the research object,this paper uses multiple regression model to explore the relationship between the intergenerational succession of enterpris-es and the effectiveness of equity incentive in private listed enterprises.The empirical results show that there is a significant positive correlation between the level of equity incentive and the company’s relative performance in the enterprises managed by the founders,while the equity incentive is nearly ineffective in the listed private enterprises after the intergenerational succession.

关 键 词：民营企业 股权激励有效性 相对绩效评价 企业代际 

分 类 号：F272.92[经济管理—企业管理] F276.5[经济管理—国民经济]