The Research On The Protection Of Stakeholders In Equity Incentive Of Listed Company

This thesis focuses on analyzing the protection of stakeholders in equity incentive of listed companies in China. Equity incentive is widely used in foreign companies, inspire the managers to work hard through supplying them a number of stocks or stock options. Equity incentive is a useful tool in both inspiring the managers and perfecting corporate governing structure. Although the practice of equity incentive of listed companies in China is not long, lots of problems have exposure. The key of solution is the perfection of legislation. This thesis is based on the protection of stakeholders, analyzing the practice and legislative actuality of equity incentive. After the analysis, this thesis put forward some legislative advices in building the system of the protecting stakeholders in equity incentive, which are expected to be helpful for the legislation and practice.In sum, the thesis comprises three parts as follows:Chapter 1:It is concerned with the general introduction of equity incentive, the history and the practice in China, different ways of equity incentive, and drew the boundary of stakeholder in equity incentive, aiming at illuminate the scope of discussion and provides theoretical background for analysis in later part.Chapter 2:It briefly introduces the legislative provisions relating to equity incentive, analyzed the shortage of legislative about equity incentive in China. It also introduced the adverse impact of equity incentive because of the faultiness of legislative, demonstrated the necessity of improving legislation.Chapter 3:On the base of the discussion of former parts, this part focus on build up the system in which stakeholders can be well protected. The author put forward some legislative proposals, separately about the protection of managers, shareholders, creditors, Individual Investors and employees. This is the main and creative part of this thesis.The conclusion part summarized the views and emphasis on the importance of protection of stakeholders in equity incentive. The destination of improving legislation is reducing the negative effects of equity incentive and better displays its positive effects.This thesis includes both theoretical analysis and practical analysis. The methodology of this thesis is listed as follows:(1) case study method; (2) comparative method; (3) inductive reasoning method.