Establish The Program Of The China Electronic Information Industry Group Companies Operating Incentive And Restrictive Mechanism Study

China Electronics Corporation (CEC) is a national trans-regional and multi-industrial high-tech group, under the direct control of Central Work Committee for Large Enterprises. Along with the corporation's development, the importance of Human Resource Capital (HRC) is becoming increasingly salient. A well-established incentive and restraint mechanism has become the above-all task to CEC.The analysis on CEC's current incentive system reveals some problems, like the poor correlation between corporation performance and the managers' personal interests, the unreasonable salary structure and low salary, uncontrollable consumption for the position, lack of competitiveness in the selection of managerial staff, the unreasonable performance-evaluation indicators, the failure of owner's supervision on manager, and so on.The underlying reasons include: the government's role in establishing a hospitable environment for the managers remains to be improved; the supervision on both capital market and managers' market is far from satisfied; the official standard of managers' selection; lack of the manager-specific incentive and restraint mechanism; the vacancy of the restraint system by corporation owners and the ill-founded corporate governance structure, and so on. How to set up the incentive and restraint mechanism is one of the hot topics. This thesis, based on CEC's actual situation, aims to solve the problem of long-term motivation and fully stimulate the executives to enhance the operation and profitability by coming up with the annual-pay plan, reforming ZR (subsidiary company) ownership and carry employee stock ownership plan (ESOP) and CEC's shareholding incentive plan into execution.At the same time, In order to get adapted to the market change, improve the competitiveness, reinforce the cohesiveness and maintain the upswing trend, CEC should take effective measures, such as to accept new idea and develop the managers' awareness of competitiveness; reform the selecting and appointing mechanism; establish a sound compensation system; improve consumption for the position; break the dominance of state-owned shareholders on the stock market and improve corporate governance structure; reinforce the financial supervision on the corporation; make a full use of restraint effect of competitiveness and reputation mechanism; build various "golden parachutes".