金融理论与实践
金融理論與實踐
금융이론여실천
Financial Theory and Practice
2014年
2期
81~84
,共null页
证券市场 证券公司 非股权激励 奖金账户
證券市場 證券公司 非股權激勵 獎金賬戶
증권시장 증권공사 비고권격려 장금장호
stock market;a securities company;non-equity incentive;bonus account
目前我国证券市场的弱有效性可能使一些证券公司的股权激励约束设计成为一种陷阱，必须重视非股权形式的激励约束设计，其中主要有七种模式，包括奖金账户制激励约束，职位消费激励约束，延期到退休后支付计划激励约束，声誉激励约束，媒体激励约束，防范老鼠仓风险的证券自营制度激励约束，罢免与解雇激励约束。
目前我國證券市場的弱有效性可能使一些證券公司的股權激勵約束設計成為一種陷阱，必鬚重視非股權形式的激勵約束設計，其中主要有七種模式，包括獎金賬戶製激勵約束，職位消費激勵約束，延期到退休後支付計劃激勵約束，聲譽激勵約束，媒體激勵約束，防範老鼠倉風險的證券自營製度激勵約束，罷免與解僱激勵約束。
목전아국증권시장적약유효성가능사일사증권공사적고권격려약속설계성위일충함정，필수중시비고권형식적격려약속설계，기중주요유칠충모식，포괄장금장호제격려약속，직위소비격려약속，연기도퇴휴후지부계화격려약속，성예격려약속，매체격려약속，방범로서창풍험적증권자영제도격려약속，파면여해고격려약속。
Currently the weak effectiveness of stock market may make the design incentive constraints of equity of some securities companies to be a kind of trap, so we should pay attention to the design in-centive constraint of non-equity form. There are seven modes including as bonus system of account in-centive constraint, position consumption incentive constraint, payment plan incentive constraint of post-poned until retirement, reputation incentive constraint, media incentive constraint, self-run securities system incentive constraint of rat trading risks prevention, recall and retired incentive constraint.
