| 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. |
