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论文编号：	4853
作者编号：	2120102405
上传时间：	2012/12/12 16:21:25
中文题目：	中小企业股权动态调整的研究
英文题目：	Research on Stock Incentive Programs with Small and Medium-Sized Private Enterprises
指导老师：	李亚
中文关键字：	中小企业 核心员工 动态股权 经营股东
英文关键字：	small and medium-sized private enterprises, core staff, stock incentive plan, operating shareholders
中文摘要：	随着中国经济飞速发展，中小民营经济力量不断壮大，并逐渐占主导地位，目前，我国中小企业就业人数约占全国就业人数的80%左右，其创造的GDP占全国的60%，提供的税收占50%。要巩固和发展这一战略地位，需要不断提高企业可持续发展能力。面临激烈市场竞争，本文希望通过对中小企业的核心员工的和经营股东的设计不同动态股权调整方案，以留住关键人才，增强企业发展动力，提升企业竞争力。本文从中小企业竞争力现况分析入手，通过文献检索、资料查阅、企业访谈、案例分析、归纳总结等方法，对中小企业存在的问题进行归纳总结，并找出了以股权动态调整为主的提升中小企业可持续发展动力的方案。本文在回顾公司治理和股权激励相关理论的基础上，从中小企业的核心员工激励问题和股东贡献与股权不平衡的问题入手，提出以核心员工的业绩、能力、潜力三位一体的价值评价方法，根据其综合绩效，按照公司可分配利润的一定比例，取得一部分虚股。对于经营股东，按照其贡献度与股权比例的差别，以及本研究提出的动态股权调整方案和实施方法，进行实际股权动态调整。本文并对核心员工的评价制度、股权激励方法和流程进行了详细的阐述。对经营股东的动态调整方案设计，实施流程以及实施中注意的细节也进行了举例分析。本文最后以某中小企业为例，从核心员工和经营股东两个方面论证，，根据本文论证的动态股权调整体系，对其股权作出了相应调整，使其付出与回报得到了大大的平衡，并在该企业取得了较好的激励效果。希望也能够给其它中小企业的可持续发展起到一些借鉴作用。
英文摘要：	Small and medium-sized private enterprises have been fast-growing and play a leading role in China’s recent economic development. Currently, 80% of employed people work for small and medium-sized companies, which account for 60% of Gross Domestic Product (GDP) and generate 50 percent of the nation’s income tax. These smaller companies need to develop competitive strategies and continuously improve their sustainability capabilities. This article introduces and discusses different stock incentive programs available to operating shareholders and core staff, programs which are customized to small and medium-sized private companies. The goal is to help these companies retain a talented workforce while improving operational competency. The author analyzes current management issues with small and medium-sized private companies through extensive information, business interviews, and case studies. Solutions are suggested to generate employee motivation and improve sustainable competitiveness with stock incentive programs. This article identifies the problem, i.e., the inappropriate relationship between core staff or operating shareholder contributions and stock options and incentive programs. A comprehensive performance assessment system with achievements, capabilities, and potentials is introduced which allows employees the opportunity to receive stock warrants based on their performance and the company’s profit distribution policy. For operating shareholders, the shareholding ratio would be in accordance with their contributions, to be adjusted by stock incentive program implementation. The author also articulates the implementation and evaluation process for core staff with detailed information and examples. This article discusses a business case in the last chapter. It re-evaluates an operating shareholder and core staff’s contribution with a medium-sized company, and adjusts his shareholding ratio to the company’s total equity. The adjustment balances the shareholders’ contribution and benefit and improves the incentive effectiveness.
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