高管股权激励动机差异对公司绩效的影响研究

以股权激励动机为视角,研究了两类动机下高管股权激励与公司绩效之间的关系。研究结果表明,两类动机下的高管股权激励与公司绩效之间的关系显著不同:相比于非激励型股权激励与公司业绩呈不显著的负相关关系,激励型高管股权激励却能显著提高公司业绩。

Different Motivations of Executive Equity and Corporate Performance

From the perspective of executive equity motivations, this paper studied the relationship between the two types of executive equity motivations and corporate performance. We found that the relationships of the two types of motivations of executive equity with corporate performance are significantly different: compared with the welfare-based motivation equity was insignificant negative correlation between the performances of the company, while the incentive-based one significantly improves the performance of the companies.