Research On The Reward Incentive Mechanism Design Of Managers In Firms On The Base Of Market-Oriented Indexes

Foundation and perfection of mechanism of incentive for managers in firms on the condition of market economy are one of sixty-four dollar questions in the course of our firm reforming and building modern firm. According to market-oriented indexes measuring manager's performance, decide manager's reward and realizing reward incentive based on market-oriented standards can decrease agent cost and solving short-term questions on manager's behavior.This paper combines our country's concrete conditions on the basis of using the foreign theory and practical experience for reference, probes into the manager's human nature basis of changing period of economic system and proposes the new human nature assumption, and carries on the analysis by using model. It analyses the human capital characteristics of manager participate in firm assign theoretical foundation of offering by surplus with its capital for manager. By way of statistical analysis, proves that their academic level and firm performance do not have remarkable relevant relations, thus proves that weighs manager's ability necessity with the contribution to the firm performance of diligent level with the market-oriented standards. Propose manager appraise the market-oriented indexes to manager who performance contribute with its capital. It regards incentive theory model as foundation introduce manager participates in assign and consume the monetary thoughts with the position by surplus with their capital, use comparative performance information to shield the uncertain factors, fluctuate information embody the market values of human capital with stock price, realizes position consume on market-oriented consume coefficient. Thus carries on the analysis of cases on actual condition after perfecting the manager's reward contract. Analyze the defect of traditional reward and effective long-term incentive mechanism of manager to expound stock option, recommends CHINAUNICOM to implement the typical case of stock option and perfect incentive mechanism of the stock option to put forward suggestions. At last, on the basis of summarizing full texts, proposed questions probed into further.