深圳汇川股份股权激励计划案例研究 现代社会不断发展当中，现代企业制度也得到了一定的完善。企业在发展过程当 中自身实力不断增强，但同时也出现了经营上面的一些问题，使得企业正常发展遭到 影响。在企业发展过程当中，最需要解决的一个问题就是如何建立对经营者的有效激 励机制，并设立相符合的约束机制与之互相匹配，从而能够推动企业更好发展。在进 行激励措施制定过程当中，股权激励是比较合适的一种手段，将股权和员工利益进行 关联，能够激发员工积极性，让他们能够全身心投入到公司的发展当中，也能够增强 员工对公司的认同感，从而让员工愿意留在企业当中进行发展，有利于留住一些优秀 人才。 从上个世纪末开始，我国就有很多学者对股权激励管理制度进行研究，既对其理 论进行挖掘，又结合实际情况来进行分析，并不断将我国股权激励管理制度研究应用 推广到当代企业的管理实践中。我国加入世界贸易组织之后，就被卷入全球化浪潮当 中，而企业之间的竞争也已经演变成了人才的竞争。人才是企业的核心竞争力，为了 能够实现企业更好发展，就必须尽全力吸引和留住人才，因而我国很多企业都开始实 施股权激励制度。起步较晚、制度不完全的原因，使我国企业对股权激励制度的研究 十分匮乏，企业在设计股权激励方案和实施时产生诸多的问题，导致在实施股权激励 机制的时候，往往无法达到预期的效果。 在我国已有的高新技术企业当中，深圳汇川股份属于大型的企业，目前处于高速 发展阶段，这些年来在科研上面投入的资金越来越多，不断强化自身创新能力，自身 的竞争实力得到了大幅度的增强，但是仍然面临巨大的行业竞争压力，因而对人才非 常的重视，希望得到更多优质的人才。深圳汇川股份早在2012年就开始实施股权激励 机制，目的是为了吸引优质的人才。本文选择这家公司作为研究对象，对其进行具体 分析，采取文献研究法、案例分析法以及定性分析法来全面衡量股权激励计划具体的 实施内容和效果，进行更加深入的研究。在本文研究当中，一共分成六个章节。第一 章为绪论，介绍了选题的背景和意义、研究内容和研究方法。第二章为股权激励的有 关理论，介绍了股权激励的涵义及相关理论。第三章为案例正文，对深圳汇川股份基 本情况以及股权激励计划内容进行介绍。第四章为深圳汇川股份股权激励的案例分析， 总结分析了这家公司之所以要实施股权激励机制的原因；然后对实施之后的效果进行 II 评估，进行深入的分析；最后总结出深圳汇川股份股权激励计划的优点和不足。第五 章为深圳汇川股份股权激励的改进对策，对深圳汇川股份股权激励计划提出改进意见。 第六章为结论和展望，对本文研究作了小结并总结了本文研究的不足。 关键词： 深圳汇川股份，股权激励，股票期权，限制性股票 III Abstract Case Study on Equity Incentive of Shenzhen Inovance Technology Co., Ltd With the continuous development of modern society, the modern enterprise system has also been improved to a certain extent. In the process of enterprise development, its own strength has been continuously enhanced, but at the same time some problems in operation have also appeared, making the enterprise unable to achieve long-term development. In the process of enterprise development, one of the most important problems to be solved is how to establish an effective incentive mechanism for operators, and set up a consistent restraint mechanism to match each other, so as to promote better development of the enterprise. In the process of formulating incentive measures, equity incentives are a more appropriate method. Connecting equity and employee benefits can stimulate employees’ enthusiasm, enable them to devote themselves to the company’s development, and enhance employees’ commitment to the company. A sense of identity, so that employees are willing to stay in the company for development, and help retain some outstanding talents. Since the end of the last century, many scholars in China have conducted research on the equity incentive management system, not only excavating its theory, but also analyzing the actual situation, and continuously extending the research and application of China’s equity incentive management system to the management of contemporary enterprises Practice. After my country joined the World Trade Organization, it was involved in the wave of globalization, and competition among enterprises has evolved into competition for talents. Talent is the core competitiveness of an enterprise. In order to achieve better development of the enterprise, it is necessary to make every effort to attract and retain talent. Therefore, many enterprises in my country have begun to implement the equity incentive system. The reasons for the late start and incomplete system have caused the lack of research on the equity incentive system in Chinese enterprises. Many problems have arisen in the design and implementation of equity incentive schemes. As a result, the implementation of equity incentive mechanisms often fails to achieve expectations. effect. Among the existing high-tech enterprises in China, Inovance Technology is a large-scale enterprise and is currently in a stage of rapid development. Over the years, it has invested more and more funds in scientific research, continuously strengthened its own innovation capabilities, and its own competitive strength has been greatly improved. IV However, it is still facing the greatest pressure from industry competition, so it attaches great importance to talents and hopes to obtain more high-quality talents. Inovance Technology has implemented an equity incentive mechanism as early as 2012, the purpose is to attract high-quality talents. This paper selects this company as the research object, conducts specific analysis on it, adopts literature research method, case analysis method and qualitative analysis method to comprehensively measure the specific implementation content and effect of equity incentive plan, and conduct more in-depth research. In this study, it is divided into six chapters. The first chapter is the introduction, introducing the background and significance of the topic, research content and research methods. The second chapter is the relevant theories of equity incentives, introducing the meaning of equity incentives and related theories. The third chapter is the case text, introducing the basic situation of Inovance technology and the content of the equity incentive plan. Chapter 4 is the case analysis of Inovance Technology’s equity incentives. It summarizes and analyzes the reasons why this company needs to implement the equity incentive mechanism; then evaluates the effects after implementation and conducts in-depth analysis; finally summarizes Inovance Technology’s equity The advantages and disadvantages of incentive plans. The fifth chapter is the improvement countermeasures of Inovance Technology's equity incentive plan, and puts forward suggestions for improvement of Inovance Technology's equity incentive plan. The sixth chapter is the conclusion and prospect. It summarizes the research of this paper and summarizes the deficiencies of this research. Keywords: Huichuan Technology, Equity Incentives, Stock Options, Restricted Stocks V 目 录 第1章 绪论 ...................................................................................................... 1 1.1 研究背景 .................................................................................................. 1 1.2 研究意义 .................................................................................................. 2 1.3 研究方法 .................................................................................................. 3 1.4 研究内容 .................................................................................................. 4 第2章 股权激励的相关概念和理论 .............................................................. 6 2.1 股权激励内涵 .......................................................................................... 6 2.2 期望理论 ................................................................................................ 10 2.3 人力资本理论 ........................................................................................ 10 2.4 委托代理理论 ........................................................................................ 11 第3章 案例正文 ............................................................................................ 12 3.1 公司简介 ..............................................................