摘要:一場(chǎng)突如其來(lái)的金融危機(jī)席卷全球，對(duì)我國(guó)出口經(jīng)濟(jì)和金融系統(tǒng)造成了很大影響，從而對(duì)整體經(jīng)濟(jì)造成了影響。隨之而來(lái)的是股市劇烈震蕩和大量企業(yè)利潤(rùn)下滑。因此，很多實(shí)行股權(quán)激勵(lì)機(jī)制的上市公司由于出現(xiàn)大量潛水股權(quán)，直接導(dǎo)致員工對(duì)股權(quán)激勵(lì)的效果失去信心。和西方發(fā)達(dá)國(guó)家實(shí)施股權(quán)激勵(lì)機(jī)制的情況相比較而言，我國(guó)股權(quán)激勵(lì)機(jī)制發(fā)展得還不健全，股權(quán)激勵(lì)在經(jīng)濟(jì)繁榮的時(shí)期可以起到激勵(lì)員工、團(tuán)結(jié)人心、留住人才的作用。而在經(jīng)濟(jì)蕭條的時(shí)期，不但不能鼓舞人心，甚至打擊員工的士氣。這使我們想到要施行長(zhǎng)效的股權(quán)激勵(lì)制度，使它發(fā)揮最大的效果來(lái)改善上市公司的業(yè)績(jī)。

　　　本文認(rèn)為股權(quán)激勵(lì)可以在實(shí)現(xiàn)公司長(zhǎng)期穩(wěn)定發(fā)展的前提下，給予了員工分享公司利潤(rùn)的機(jī)會(huì)，從而實(shí)現(xiàn)了企業(yè)所有者與企業(yè)員工的“雙贏”。而股權(quán)激勵(lì)與EVA激勵(lì)相結(jié)合在一定程度上抑制了股價(jià)波動(dòng)和編造虛假的財(cái)務(wù)報(bào)表的現(xiàn)象，為上市公司提高業(yè)績(jī)奠定了良好的基礎(chǔ)。此外，在推行股權(quán)激勵(lì)制度的同時(shí)，我們也應(yīng)完善和健全法律法規(guī)，對(duì)股權(quán)激勵(lì)制度進(jìn)行適當(dāng)?shù)募s束，同時(shí)加強(qiáng)對(duì)股市的監(jiān)管。在不斷的探索中不斷改進(jìn)，使公司員工通過(guò)股權(quán)激勵(lì)真正做到參與公司決策，分享利潤(rùn)，承擔(dān)風(fēng)險(xiǎn)，從而勤勉盡責(zé)地為公司的長(zhǎng)遠(yuǎn)發(fā)展服務(wù)。

關(guān)鍵詞：股權(quán)激勵(lì)  團(tuán)結(jié)人心  不健全  道德風(fēng)險(xiǎn)

Abstract:A unexpected financial crisis came through all over the world, which has a big influence on exporting economic and financial system. So the whole economic was effected. Followed by it, a sharp stock market volatility and a large decline in corporate profits was coming. So, for a lot of listing companies running equity incentive appear many diving options, which lead to losing confidence of the equity incentive for employees directly. Compare with easten developed countries, the equity incentive in our country has not been very sound. The equity incentive in the period of economic properity can motivating the employees, uniting the employees, and retaining the excellent employees. However, the equity incentive in the period of economic declining can not motivating people even make people down. It makes us know that only running the long-term equity incentive can it make the best result come true to promote the profermance of listing companies.

　　　The article shows that equity incentive gives the employees optunities to share the earnings of the company in the condition of the company’s development in the long run. So both of the company’owner and the employees own. However the combine of equity incentive and EVA incentive inhibit the phenomenon of stock price volatility and fabricating false financial statements, which make a good basis for listed companies to improve performance. And we should not only persue the equity incentive,but also make the rules and laws more efficient, make the supervision of the stock market more stronger. Through the continuous exploration and continuous improvement, employees join in making decision, sharing the income of the company, and undertaking the risk to serve for the company in the long run.

Key Words：Equity incentive  Uniting the employees  Unsound  Moral hazard