股权激励对上市公司的影响及投资策略分析

本文探讨了我国上市公司实施股权激励的环境条件，分析了股权激励对管理层、股东影响的内在机制，分析了实施股权激励对上市公司价值和业绩的影响。对股权激励类上市公司上涨因素的定量化分析显示，其上涨与公司现有的各项财务指标没有必然联系，而与公司的市场地位、行业发展趋势和关联交易之间存在明显的关系。本文认为，我国上市公司已基本具备实施股权激励的环境条件，实施股权激励有利于解决管理层和股东利益一致性问题，通过价值转移和价值创造，持续、有效地促进上市公司价值和业绩的提高，从而有效推动上市公司股价的上升，给投资者以强有力的信心和巨大的投资机会。

Impact of Equity Incentives and Investment Strategy Analysis

The author makes a review of the environment under which equity incentives might be implemented in China. He analyzes the internal.mechanism of the incentives and its impact on corporate value and performance. Quantified analysis of rising stock prices of relevant companies reveals that they are not as much related to corporate data as they are to industry position, industry prospect and related party transactions. The author believes that it is the right time to implement equity incentives in the listed companies, which is conducive to enhancing corporate value and performance through value transfer and creation and boosting investor confidence and investment opportunities.