發(fā)布時間：2018-05-31 16:12

  本文選題：宇通客車 + 股權(quán)激勵��； 參考：《河南工業(yè)大學(xué)》2017年碩士論文

【摘要】：近年來,越來越多的上市公司運用股權(quán)激勵這種制度來提升公司的業(yè)績和在市場上的競爭力�，F(xiàn)在距離中國首次頒布股權(quán)激勵方面的相關(guān)法律法規(guī)已十年有余,股權(quán)激勵制度在中國得到了廣泛運用實施。在這過程中,中國不斷試探摸索,尋求出了一套適合中國國情的股權(quán)激勵管理辦法�？蛙囆袠I(yè)的龍頭企業(yè)宇通客車就是在這樣的背景下實施并完成了其股權(quán)激勵計劃。2012年,宇通遭遇生產(chǎn)基地極限和產(chǎn)能瓶頸問題,為了鞏固公司行業(yè)龍頭地位,進一步提高市場占有率,宇通客車推出了股權(quán)激勵計劃,并于2015年完成了該計劃。論文綜合運用案例分析法、財務(wù)分析法、事件研究法、回歸分析法等多種方法,對宇通客車實施股權(quán)激勵整個計劃的前因后果進行了分析和總結(jié)。本文研究的主要內(nèi)容如下:第一部分:緒論。主要介紹本文的研究背景和意義,概述國內(nèi)外研究現(xiàn)狀。第二部分:企業(yè)股權(quán)激勵相關(guān)理論。主要對股權(quán)激勵進行梳理,介紹股權(quán)激勵概念、股權(quán)激勵的主要類型,闡述股權(quán)激勵實施背景。第三部分:宇通客車股權(quán)激勵案例介紹。主要對宇通客車的基本情況、股權(quán)激勵方案的主要內(nèi)容以及實施情況進行介紹。第四部分:宇通客車股權(quán)激勵案例分析。本部分是對單個股權(quán)激勵案例的多維度分析,對宇通客車制定股權(quán)激勵政策的動因、內(nèi)容、影響和效果進行分析。第五部分:宇通客車股權(quán)激勵改進建議。對宇通客車股權(quán)激勵方案的研究結(jié)果進行總結(jié)和歸納,從股權(quán)激勵計劃、公司內(nèi)部治理和外部經(jīng)營環(huán)境三方面提出改進建議和解決措施。第六部分:結(jié)論及展望。主要回顧全文的研究內(nèi)容,在本文理論及描述性分析的基礎(chǔ)上,歸納我國上市公司股權(quán)激勵的合理化建議,指出文章不足,提出下一步研究的方向。經(jīng)過本文的研究,得出如下結(jié)論:一:宇通客車的股權(quán)激勵方案相對來說是科學(xué)合理的,其行為給我國資本市場帶來了新的契機,為客車行業(yè)其它企業(yè)實施股權(quán)激勵起了一個很好的領(lǐng)頭示范作用,對新能源客車的發(fā)展也起到了一定促進作用。二:設(shè)置合理的、適用于公司自身的股權(quán)激勵計劃非常重要。激勵模式的、激勵對象、授予數(shù)量、解鎖期限等因素的綜合作用,是使一個計劃得以完整實施的關(guān)鍵。如果其制度設(shè)置合理,那么被激勵的對象的利益和公司的長期利益將趨于一致,能夠促進公司的長期發(fā)展。三:在股權(quán)激勵的道路上,我國還要繼續(xù)探索前進,有一些企業(yè)運用股權(quán)激勵的時候并未完整實施,發(fā)展遇到了阻礙,這對上市公司是一個挑戰(zhàn)。我國需要借鑒其他國家和地區(qū)的成功典范,并結(jié)合我國實際情況,為股權(quán)激勵計劃的實施創(chuàng)造一個更好的環(huán)境,從而促進上市公司的良性發(fā)展。
[Abstract]:In recent years, more and more listed companies use equity incentive system to improve their performance and competitiveness in the market. It is now more than ten years since China first promulgated the relevant laws and regulations on equity incentive, and the equity incentive system has been widely applied in China. In this process, China has been exploring and groping for a suit of equity incentive management method suitable for China's national conditions. It is against this background that Yutong bus, the leading company in the bus industry, has implemented and completed its equity incentive plan. In 2012, Yutong encountered problems of limit of production base and bottleneck of production capacity, in order to consolidate its leading position in the industry. To further increase market share, Yutong bus launched the equity incentive plan, and completed the plan in 2015. This paper analyzes and summarizes the causes and consequences of the whole plan of equity incentive of Yutong bus by using the methods of case analysis, financial analysis, event research, regression analysis and so on. The main contents of this paper are as follows: the first part: introduction. This paper mainly introduces the research background and significance, and summarizes the current research situation at home and abroad. The second part: the related theory of enterprise equity incentive. This paper introduces the concept of equity incentive, the main types of equity incentive and the background of equity incentive. The third part: Yutong bus equity incentive case. This paper mainly introduces the basic situation of Yutong bus, the main contents of equity incentive scheme and its implementation. The fourth part: Yutong bus equity incentive case analysis. This part is a multi-dimensional analysis of a single case of equity incentive, and analyzes the motivation, content, impact and effect of the development of equity incentive policy on Yutong bus. The fifth part: Yutong bus stock right incentive improvement suggestion. This paper summarizes and summarizes the research results of Yutong bus's equity incentive scheme, and puts forward some suggestions and solutions from three aspects: equity incentive plan, company's internal governance and external operating environment. The sixth part: conclusion and prospect. On the basis of theoretical and descriptive analysis, this paper summarizes the rational suggestions of equity incentive of listed companies in China, points out the deficiency of the article, and puts forward the direction of further research. The conclusions are as follows: first, the equity incentive scheme of Yutong bus is relatively scientific and reasonable, and its behavior brings a new opportunity to the capital market of our country. It plays a leading role in promoting the development of new energy passenger cars. Second: set reasonable, applicable to the company's own equity incentive plan is very important. The combined effect of incentive mode, incentive object, quantity of award, unlocking period and so on is the key to complete implementation of a plan. If the system is reasonable, the interests of the motivated object will be consistent with the long-term interests of the company, which can promote the long-term development of the company. Third, on the road of equity incentive, our country should continue to explore and advance, some enterprises have not been fully implemented when applying equity incentive, and the development has encountered obstacles, which is a challenge to listed companies. China needs to draw lessons from the successful models of other countries and regions and combine the actual situation of our country to create a better environment for the implementation of equity incentive plan so as to promote the benign development of listed companies.
【學(xué)位授予單位】：河南工業(yè)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2017
【分類號】：F426.471;F272.92;F406.7

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