商业银行股权激励的特殊意义与现实问题分析

银行业普遍存在的管制,使银行面临着有限的控制权市场和接管威胁,从而大大降低了市场约束银行管理者的能力,因此对银行而言,通过股权激励机制协调股东和管理者的利益、降低代理成本显得尤为重要.我国商业银行实施股权激励不应盲目照搬西方国家的范例,应慎重选择股权激励的实施范围,目前最好只局限在高级管理人员,通过对股权激励机制的合理设计来充分发挥其长期激励效应,切不可盲目扩大激励范围,将股权激励演变成一种新的福利措施.应尽快建立起以经济资本为核心的业绩考核体系,在经济资本的约束下实现业务发展模式和盈利模式的转变.股权激励机制的有效实施离不开完善的银行治理结构.

Significance and Problems of Equity Incentives of Commercial Banks

Because of the omnipresent banking control,banks are subject to limited control market and takeover threat,which weaken to a great extent the market power to restrain banking administrators.So it is highly important for banks to lower agency cost by balancing the interest between shareholders and administrators through equity incentive mechanism.China's commercial banks needn't copy blindly the examples of the western countries and on the contrary they should carefully set the scope of equity incentives,better limited to senior executives at present.To produce a long-term incentive effect,they should design a reasonable incentive program.It will not do to enlarge the scope of equity incentive blindly and turn it into a new measure of welfare.They should lose no time establishing a performance appraisal system with economic capital at the core and transform business development and profit patterns under the restraint of economic capital.An effective stock incentive program cannot do without sound banking corporate governance.