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基于对中关村园区内企业的调查,本文对高新技术企业股权激励授予对象、激励形式、激励规模、业绩考核指标、行权价格等激励要素现状进行分析。研究发现:(1)企业对股权激励在提升公司业绩、促进企业增加创新投入、吸引与留住人才等方面有较高的满意度;(2)股权激励设计中存在业绩指标短期化、用足政策空间的问题;(3)政府的数量型监管与税收政策制约了企业股权激励实施。本文建议:完善信息披露,打击业绩操纵;转变数量型监管模式,简化股权激励审批流程;提升税收政策与股权激励的协调性。
Based on the survey of Zhongguancun enterprises in the park, this paper analyzes the status quo of the motivational elements such as the object of grant, incentive form, incentive scale, performance evaluation index and exercise price of high-tech enterprises. The findings are as follows: (1) The enterprises have higher satisfaction with the equity incentive in improving corporate performance, promoting enterprises to increase innovation input, attracting and retaining qualified personnel; (2) there are short-term performance indicators in equity incentive design, Policy space; (3) The government’s quantitative regulation and tax policies have restricted the implementation of the enterprise’s equity incentive. This paper suggests: improve information disclosure, combat performance manipulation; change the quantitative supervision mode, simplify the examination and approval process of equity incentive; enhance the coordination of tax policy and equity incentive.