| 产权、外部性与激励模式创新 |
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| 引用本文： | 陈敏. 产权、外部性与激励模式创新[J]. 湖北经济学院学报, 2005, 3(5): 91-95 |
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| 作者姓名： | 陈敏 |
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| 作者单位： | 中南财经政法大学,会计学院,湖北,武汉,430060 |
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| 摘 要： | 以股权为基础的激励模式是在所有权与经营权分离的条件下，为企业经营者和员工提供产权激励．将被激励对象行为的外部性内在化：然而，在证券市场非有效的情况下，外部性不仅不能内在化甚至导致新的外部性问题。针对这种情况，本文以可转换债券为基础构建了新的激励模式，这种激励模式吸取了以股权为基础的激励模式的优点并能将外部性最大程度地内在化。
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| 关 键 词： | 激励模式 产权 外部性 激励可转换债券 |
| 文章编号： | 1672-626X(2005)05-0091-05 |
| 收稿时间： | 2005-06-21 |
| 修稿时间： | 2005-06-21 |
Property, Externality and New Incentive Model |
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| CHEN Min. Property, Externality and New Incentive Model[J]. Journal of Hubei University of Economics, 2005, 3(5): 91-95 |
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| Authors: | CHEN Min |
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| Affiliation: | Zhongnan University of Economies and Law, Wuhan 430060, China |
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| Abstract: | Since the ownership and management have been detached,the incentive model based on stock provides property incentive to managers and employees so as to inter the externality.But it can't be realized because of the inefficiency of stock market.So this article puts up with a new incentive model based on convertible bond.This model keeps the advantages of model based on stock and can inter the externality to the best. |
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| Keywords: | incentive model property externality incentive convertible bond |
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