Research On The Equity-Based Incentive Of Professional Managers In Market Economy

Human capital of enterprise is playing more and more important role, the incentive of enterprise managers, the heterogeneity of human capital, has been the hot core for market-oriented reform and the construction of modem enterprise mechanism in our country.After years of exploration and practice in Europe and America, equity-based incentives system has been proved to be an effective incentive, being generally used in rapid economic development phase. This article, targeting at equity-based incentives of professional executive as unique perspective, drawing on advanced international experience, studying issues related to equity-based incentives of China, to explore the feasibility and implementation of equity-based incentives to professional executive. This paper reviews the literature of equity-based incentives to professional executive both at home and abroad, analysis of the theory and method of equity-based incentives, studies the implementation and problems of domestic equity-based incentives of professional executive, and based on the 2007 listed companies implementing equity-based incentives doing empirical analyze. Through comparing the data of Vanke Company before and after implementing equity-based incentives, put forward concept model of the equity incentive for enterprises in China.The paper focus on issues such as systems, laws, regulations, markets and ideas of equity-based incentives to professional managers in China, constructs a support system to provide a useful reference for relevant department of the country and listed companies to introduce and promote equity-based incentives to professional executive.