论国企的股权激励－－以光明乳业为例Ontheequityincentiveofstate-ownedenterprises--withbrightdairyindustry.I摘要股权激励制度对于激励公司员工积极性，提高公司竞争力，提升公司价值有非常重要的价值，然后如若不当使用会伤害股东，特别是小股东的利益，伴随着我国公司不断增加，公司的质量不断受到质疑，新型企业不断萌芽，因此完善股权激励对于提高公司的质量非常重要。股权激励作为一种长期激励有效方式，在实践中出现一些不足和问题，通过对我国公司股激励的研究，发现其中问题并提出解决之道，有利于公司稳健快速的发展。本文以光明乳业有限公司为例，阐述企业股权激励实施效应，文章首先阐述股权激励的概念、原理、模式等基本理论知识；接着对光明乳业有限公司股权激励的实施效用进行实证分析，最后分析光明乳业有限公司股权激励制度成功的原因和适用性。关键词：股权激励；国有企业；光明乳业IIAbstractEquityincentivesystemtomotivatestaffenthusiasm,improvethecompanycompetitiveness,enhancethevalueofthevalueofthecompanyhasaveryimportant,andthenifimproperusewillhurtshareholders,especiallytheinterestsofsmallshareholders,withcompaniesinourcountrycontinuetoincrease,thequalityofthecompanyconstantlyquestioned,enterpriseconstantlybudandthereforeimprovetheequityincentiveareveryimportanttoimprovethequalityofthecompany.Asakindoflong-termincentiveequityincentiveeffectiveway,somedeficienciesandproblemsinpractice,basedontheresearchofthecompanystockincentiveinourcountry,foundtheproblemandputforwardthesolution,isadvantageoustothecompanyofasteadyandfastdevelopment.Takingbrightdairyco.,ltd.asanexample,thispaperexpoundstheimplementationeffectofequityincentiveinenterprises,andfirstlyexpoundstheconcept,principleandmodelofequityincentive.Thenthepapermakesanempiricalanalysisoftheeffectoftheequityincentiveofbrightdairyco.,LTD.,andfinallyanalyzesthereasonsandapplicabilityofthesuccessoftheequityincentivesystemofbrightdairyco,LTD.Keywords:equityincentive;State-ownedenterprises;BrightdairyIII目录引论.............................................................1（一）研究背景.......................................................1（二）研究意义.......................................................1（三）国内外研究现状.................................................1一、股权激励的理论基础...........................................2（一）股权激励的概念.................................................2（二）股权激励的原理.................................................2（三）国企股权激励概述...............................................3二、光明乳业有限公司股权激励现状研究.............................3（一）公司简介.......................................................3（二）光明乳业股权激励实施...........................................3（三）光明乳业股权激励的主要特点.....................................41.强度和广度极高..................................................42.公平性和效率兼而有之............................................43.与经济效益紧密结合..............................................5三、光明乳业股权激励存在的问题...................................5（一）股权相对集中...................................................5（二）风险和收益匹配度不高...........................................6（三）实际操作中激励作用的有效性不明显...............................6四、光明乳业股权激励的对策及建议.................................8（一）确定股权激励对象...............................................8（二）针对业务骨干人员及重要管理人员激励模式.....
