CAJ | 학술논문

为进一步完善上市公司治理结构，促进上市公司规范运作与持续发展，证监会于2005年底发布了《上市公司股权激励管理办法（试行）》，并于2006年1月1日起在上市公司实施，文章通过对2006年实施股权激励的43家上市公司分别主板市场和中小板市场的公司特征进行分析，发现非国有控股公司实施股权激励的比例上升，中小板公司公司特征并不明显。主板公司财务风险较市场平均水平低，盈利能力和成长性较高。
위진일보완선상시공사치리결구，촉진상시공사규범운작여지속발전，증감회우2005년저발포료《상시공사고권격려관리판법（시행）》，병우2006년1월1일기재상시공사실시，문장통과대2006년실시고권격려적43가상시공사분별주판시장화중소판시장적공사특정진행분석，발현비국유공고공사실시고권격려적비례상승，중소판공사공사특정병불명현。주판공사재무풍험교시장평균수평저，영리능력화성장성교고。
In order to improve the corporate governance of listed companies and Promote the standardized operation of listed companies. The China Securities Regulatory Commission issued ＂ Equity - based Incentive Management Approach （Trial） of the listed company ＂, by the end of 2005 and implemented from January 1,2006. We analysised the company characters of 43 listed companies implementing Equity - based incentive in the Main Board and the Small - and - Medium - size Enterprises Board. We found that the ratio of non - state - owned companies implementing Equity - based incentive have increased, and the company characters of the companys in the Small - and - Medium - size Enterprises Board have not significant. The financial risk of companys in the Main Board is lower than the market average, the profitability and growth potential also high.