CAJ | 학술논문

在充分借鉴国内外学者研究的基础上，针对上市公司的资本结构动态变化，以股权激励为切入点，并以委托代理理论和产权理论为基础，结合中国的制度背景---公司的产权性质差异，从理论上推导出公司的股权激励计划与资本结构动态变化之间的关系，并得出在不同产权性质的企业中，股权激励会发挥不同的作用，从而对资本结构的动态变化会产生不同的影响。
재충분차감국내외학자연구적기출상，침대상시공사적자본결구동태변화，이고권격려위절입점，병이위탁대리이론화산권이론위기출，결합중국적제도배경---공사적산권성질차이，종이론상추도출공사적고권격려계화여자본결구동태변화지간적관계，병득출재불동산권성질적기업중，고권격려회발휘불동적작용，종이대자본결구적동태변화회산생불동적영향。
On the basis of the researches made by scholars both at home and abroad , this study , in allusion to the dynamic change of the capital structure of listed companies , deduces the relationship between the company's equity incentive plan and the dynamic change of capital structure through taking equity incentive as breakthrough point , taking principal-agent theory and property rights theory as theoretical basis , and combining with China's system background ( different nature of company's property rights ) .It is indicated that equity incentive will play a different role in the enterprises with different nature of the property rights , and will produce different effects on the dynamic change of capital structure .