本文關鍵詞： 夢潔家紡 股權激勵 事件研究法 杜邦分析　出處：《深圳大學》2017年碩士論文　論文類型：學位論文

【摘要】：20世紀以來,隨著世界經濟快速增長,企業(yè)的規(guī)模也越來越大,為應對日趨復雜的企業(yè)管理活動,職業(yè)經理人制度應運而生。經理人制度的產生,提高了企業(yè)管理的專業(yè)性,但也帶來了職業(yè)經理人與企業(yè)所有者目標偏離等種種代理問題。在此背景下,為有效激勵經理人,減少企業(yè)所有者與職業(yè)經理人之間的代理成本,股權激勵制度誕生了。我國自20世紀90年代引入股權激勵制度,隨著實行股權激勵的經濟環(huán)境、法律環(huán)境日趨完善,近年上市公司紛紛推出股權激勵方案。由此,股權激勵實施對上市公司的財務影響及激勵效果問題,也就成為當前財務理論界研究的熱點問題。本文以夢潔家紡股權激勵案例為研究對象,擬對上述問題進行深入研究,為上市公司實施股權激勵提供參考。本文通過運用事件研究法、EVA模型、杜邦分析等研究方法,以夢潔家紡股權激勵案例為研究對象,深入分析了夢潔家紡股權激勵財務效果、對經營績效影響及股權激勵事件的市場反應等問題。本文主要分為六個部分:第一部分緒論。主要介紹研究背景、意義、內容及方法;第二部分股權激勵基礎理論與文獻綜述。簡要介紹了股權激勵的相關基礎理論及國內外研究現狀;第三部分夢潔公司股權激勵案例簡介與動因分析。主要介紹股權激勵案例簡要情況,并以SWOT分析方法為框架對股權激勵的實施動因進行了分析;第四部分夢潔公司股權激勵實施效果分析。深入分析了股權激勵實施對公司財務活動、財務狀況、綜合績效EVA的影響及激勵事件的市場反應;第五部分股權激勵力度分析與效果分析。深入股權激勵實施對激勵對象的作用與效果;第六部分結論與建議�？偨Y研究結論并提出建議。通過上述研究,本文得出如下結論:(一)股權激勵實施對公司財務活動產生了積極影響;(二)股權激勵實施對公司財務狀況產生了積極正面的影響;(三)股權激勵實施對公司經營績效的提高助益顯著;(四)股權激勵實施的市場反應良好;(五)股權激勵實施對公司高管激勵效果顯著。
[Abstract]:Since 20th century, with the rapid growth of the world economy, the scale of enterprises has become larger and larger. In order to cope with the increasingly complex enterprise management activities, the professional manager system has emerged. However, it also brings all kinds of agency problems, such as the deviation of the target between the professional manager and the enterprise owner. In this context, in order to effectively motivate the manager and reduce the agency cost between the enterprise owner and the professional manager, The equity incentive system was born in China since 1990s. With the economic environment of equity incentive, the legal environment is becoming more and more perfect, and in recent years, listed companies have introduced equity incentive schemes. The financial impact and incentive effect of the implementation of equity incentive on listed companies has become a hot issue in the field of financial theory. This paper takes the case of Mengjie Home Textiles equity incentive as the research object, and intends to conduct a thorough study on the above issues. Through the methods of EVA model, DuPont analysis and so on, taking the case of Mengjie home textile stock incentive as the research object, this paper deeply analyzes the financial effect of the equity incentive of Mengjie Home Textiles. This paper is divided into six parts: the first part is introduction. It mainly introduces the research background, significance, content and methods; The second part is the basic theory and literature review of equity incentive. The third part introduces the case and motivation of equity incentive of Mengjie Company. It mainly introduces the case of equity incentive, and analyzes the motivation of equity incentive based on SWOT analysis method. 4th part of Mengjie Company equity incentive effect analysis. Deeply analyzed the impact of equity incentive implementation on the company's financial activities, financial situation, comprehensive performance of EVA and the market response of incentive events; 5th part of equity incentive strength analysis and effect analysis. Deep implementation of equity incentive on the role and effect of incentive objects; 6th part of the conclusions and recommendations. Summary of the conclusions and recommendations. Through the above research, This paper draws the following conclusions: (1) the implementation of equity incentive has a positive impact on the financial activities of the company. (2) the implementation of equity incentive has a positive and positive impact on the financial situation of the company (3) the implementation of equity incentive has a positive impact on the company's financial activities. (4) the market response of equity incentive is good and (5) the effect of equity incentive is remarkable.
【學位授予單位】：深圳大學
【學位級別】：碩士
【學位授予年份】：2017
【分類號】：F426.81;F272.92

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