Enterprise Incentive Scheme Study Based On Life Cycle

It is prevailing for modern enterprises to perform principal agent system. And there exists devoice between ownership and control. The subject status of departure leads to a series of principal agent problems. And the incentive is an important means to resolve them. Since early 1900' s, many theorists and scholars have studied the issue, and got plenty of remarkable achievements. But there are obvious defects, such as paying more attention to pure incentive theory, but barely involving the application of the incentive scheme. This thesis endeavors to apply the internationally prevailing theory of enterprise life cycle to the research on incentive scheme.Six chapters are included. The first chapter introduces study background, domestic and abroad development, contents and innovations of the article. The second one contains theory basis of the study, including enterprise life cycle theory, incentive target, principle and means. The third and the fourth are the core or essence of the thesis. By the way of derivative analysis, the author selects 6 indexes to define the life period of an enterprise, and divides it into four stages: introduction, growth, maturity and decline.Based on the definition of different life periods, the author probes deeply into the designation features and revenue equations for different incentive targets. Then after analyzing factors affecting incentive efficiency, explores the incentive development in china.