The Empirical Research On Interest Excitation Effect Of Quoted Company In Home Built On Managers' Shareholding

In company with the development of market economy, we must build virtual and long-term incentive, mechanism for the enterprises in order to arrest and detain the advanced talent and make certain of the long-run development to the enterprises. After the foundation of modern corporation system, the commission-agency relation between managers and stockholders results in a sort of proper conflict between managers endowing with decision making power and stockholders in-company. Wherefore, when the collision between self-interest of managers and stockholder benefit appearance, managers would sacrifice stockholder benefit to try to gain expedience; when the collision between corporate long-term benefit and individual short-run benefit appearance, managers may sacrifice corporation long-term benefit to obtain personal short-run benefit. The specific practice to solve the conflict of interest between managers and stockholders caused by commission-agency relation is to make administrators as stockholders.Whether the managers'shareholding exerts its due function.From the research both here and abroad we can see that the research on managers' shareholding interest excitation effect mostly focus on the relativity between interest inspirit and corporation outstanding achievement. The research technique we take to measure interest excitation effect is comparing net assets earning rate between carrying into execution interest invigorative quoted company and the whole quoted company. Aamphi-opposite viewpoint is formed.Then, what about the outcome after the execution of managers'shareholding interest inspirit. We make empirical research and canonical parse joint in the text. Firstly we derive the forming mechanism of managers'interest excitation effect in the quoted company. Secondly we make empirical analysis to the operator interest excitation effect applying econometric research technique both assisting with quantitative analysis means and comparative analysis means。Comparing there is noticeable manner to value of the enterprise or not after the execution of managers' interest inspirit in quoted company. We proceed description analyses to the excitation effect of interest invigorative difference mode and inspirit object. At the same time, we proceed monolithic comparison to circa two year outstanding achievement of interest inspirit. By the exercise of paired samples T value method of inspection we proven company's outstanding achievement. We make deep level norm case study to the issue. At last we set interest inspirit soundness proposal on for.