The Study on Incentive Mode Design of Pay-Through Phantom Equity
ABSTRACT
Phantom equity incentive in enterprises can be mainly divided into two modes: pay-through phantom equity and pure phantom equity. The main difference is whether the incentive object needs actual investment and whether they have phantom stock option. This research makes a comparative study on pay-through phantom equity and pure phantom equity, and designs a practical incentive mode of pay-through phantom equity.
Phantom equity incentive in enterprises can be mainly divided into two modes: pay-through phantom equity and pure phantom equity. The main difference is whether the incentive object needs actual investment and whether they have phantom stock option. This research makes a comparative study on pay-through phantom equity and pure phantom equity, and designs a practical incentive mode of pay-through phantom equity.
Cite this paper
Dai, L. and Zhou, Q. (2015) The Study on Incentive Mode Design of Pay-Through Phantom Equity. Journal of Human Resource and Sustainability Studies, 3, 46-50. doi: 10.4236/jhrss.2015.31007.
Dai, L. and Zhou, Q. (2015) The Study on Incentive Mode Design of Pay-Through Phantom Equity. Journal of Human Resource and Sustainability Studies, 3, 46-50. doi: 10.4236/jhrss.2015.31007.
References
[1] Aggarwal, R.K. and Samwick, A.A. (2006) Emprie Builders and Shirkers: Investment, Firm Performance and Managerial Incentives. Journal of Corporate Finance, 12, 489-515.
http://dx.doi.org/10.1016/j.jcorpfin.2006.01.001 [2] Lv, C.J., Zheng, H.L., et al. (2009) Equity Incentive System Design in Listed Company: Incentive or Welfare? Management World, 9, 133-147. [3] Zhou, Q.H. (2014) The Study on the Phantom Equity Mode of Enterprise. Money China, 5, 120. [4] Miao, X.Y. (2005) The Virtual Equity Incentive of Listed Companies. Human Resources, 11, 60-62. [5] Yang, F.R., Dou, H.S. and Zheng, Q.Q. (2011) Phantom Equity Incentive Design on the Basis of Human Resource Value. Commercial Age, 18, 87-88. [6] Su, D.W. and Lin, D.P. (2010) Equity Incentive, Earnings Management, Enterprise Governance. Economic Research, 11, 88-100. [7] Wang, H. (2012) Virtual Equity Incentive Plan. Enterprise Management, 7, 46-47. [8] Xie, Z.Y. (2014) The Research on EVA Phantom Equity Incentive Mode Based on Enterprise Growth Cycle. Decision-Making Participation, 1, 55-59.
[1] Aggarwal, R.K. and Samwick, A.A. (2006) Emprie Builders and Shirkers: Investment, Firm Performance and Managerial Incentives. Journal of Corporate Finance, 12, 489-515.
http://dx.doi.org/10.1016/j.jcorpfin.2006.01.001 [2] Lv, C.J., Zheng, H.L., et al. (2009) Equity Incentive System Design in Listed Company: Incentive or Welfare? Management World, 9, 133-147. [3] Zhou, Q.H. (2014) The Study on the Phantom Equity Mode of Enterprise. Money China, 5, 120. [4] Miao, X.Y. (2005) The Virtual Equity Incentive of Listed Companies. Human Resources, 11, 60-62. [5] Yang, F.R., Dou, H.S. and Zheng, Q.Q. (2011) Phantom Equity Incentive Design on the Basis of Human Resource Value. Commercial Age, 18, 87-88. [6] Su, D.W. and Lin, D.P. (2010) Equity Incentive, Earnings Management, Enterprise Governance. Economic Research, 11, 88-100. [7] Wang, H. (2012) Virtual Equity Incentive Plan. Enterprise Management, 7, 46-47. [8] Xie, Z.Y. (2014) The Research on EVA Phantom Equity Incentive Mode Based on Enterprise Growth Cycle. Decision-Making Participation, 1, 55-59.