A Study On Incentive Mechanism For Share Option To Executives In Private High-tech Enterprises

Private high-tech enterprises are different from the traditional enterprise, which are the enterprises of technique and knowledge intensive enterprises. In our country, private high-tech industry develop quickly, in vehemence of market competition, private high-tech enterprisers found that it is very difficult to develop continuously only depending on the original household members'management or easy management model. High-tech private enterprises have to transform to modern enterprise system. Currently, private high-tech enterprises in our country has already carried out modernization enterprise system and have acquired good development, However, private high-tech enterprises is in face of many challenge, such as dimission of executives, property right undefined, reform of distribution and so on, all above root in that private high-tech enterprises lack effective incentive and distribution mechanism. It is necessary to build up a kind of effective incentive mechanism to resolve the problems and promote the development of private high-tech enterprise.Private high-tech enterprise share incentive was ever the focus in theory and practice. However, most scholars research in aspects of executives stock option mode and share incentive mode of list enterprises, and they supply that executives stock option system can resolve the above problem of private high-tech enterprises, but for how to carry out share incentive in non-list co. ltd and Incorporated company.Executives stock option mechanism is effective sometimes than other incentive mode, but because the great mass of private high-tech enterprises in our country haven't come into market, which is not suitable to imitate stock option system. So in this dissertation we suggest private high-tech enterprises in our country carry out share option system to degree with their own characteristics, share option mechanism is an effective and long-term incentive mechanism matches our current country, and is good for continuable development of private high-tech enterprises.In this dissertation, the author put forward that we must admit the power of human capital of private high-tech enterprise executives, they should be given the position of capital owners, and obtain the power and the control powers through the surplus that the way of acquiring the share option income.This dissertation takes TY group as an example and designs a set of share option plans for the private high-tech enterprises, including scale of share option incentive, the comparison of personnel's share, price and term etc. Designing the quantity of share option is to arrange the ownership of a share structure of enterprise, generally speaking, the total amount that gives share should be controlled below 10% of the total share of enterprise for the first time to carry out share option plan, hereafter extend gradually, but it is better to keep around 10%.Share option is an allotment that carries out the surplus value to human capital, so how to make sure the inside value of human capital should be the foundation of the share option mechanism. Author use performance valuation to evaluate the value of human capital. The performance valuation is divided into enterprise's performance valuation and personal performance valuations. This dissertation designs seven contribution indexes to evaluate the executive's performance, enterprises can set the power of these indexes according to their own characteristics, then compute the comparison of the share option that each manager should assign. According to the analysis, private high-tech enterprises, specially the private high-tech enterprises that non-list, are sue to share option incentive mechanism, which is good to enroll talents, perfect allotment system and clear ownership. At the same time, it also contributes to private high-tech enterprises to encourage innovation, enhance stipulation, excellent financing, decline cost, create creative culture. Therefore, share option incentive mechanism is sue to high-tech business enterprises. Then build up a scientific performance evaluation system is the basis of realize share option mechanism.Hope this dissertation can supply an idea of development to private high- tech enterprises so that they can solve the problems and get a long-time development.