所在案例库：中国专业学位教学案例中心
案例链接：https://case.cdgdc.edu.cn/case/readCaseSummary.do?caseId=ff8080814ef14324014f407dfde00091
案例作者：邓路,华莎,王婷
作者单位：北京航空航天大学
中文摘要：2010年9月，最初由19名自然人发起成立的深圳市汇川技术股份有限公司（以下简称“汇川技术”）成功在创业板上市（股票代码：300124）。与大多数“两权分离”公司不同，汇川技术高管都由公司主要股东担任，呈现典型的“两权合一”特征。股权激励通常被认为是解决“两权分离”下公司股东和管理层代理问题的有效途径。有趣的是，对于股东和管理层代理问题并不严重的汇川技术却也于2012年推出了首期股权激励计划。本案例从激励与福利相容视角对汇川技术股权激励实施过程进行了全景描述，期望能为其他具有“两权合一”特征的上市公司实施股权激励提供借鉴思路。
英文摘要：Shenzhen Inovance Technology Co., Ltd.(hereinafter referred to as ‘Inovance Tech’
), founded by 19 natural persons and listed on the Growth Enterprise Market of China. In Inovance Tech, that all senior executives are its shareholders embodies its distinct feature of amalgamation of ownership and control, instead of separating them, like other companies do. It is surprising to see that it introduced Equity Incentive Plans (hereinafter referred to as ‘EIP’) in 2012 considering its minor agency problems, because it is generally recognized that agency problems between shareholders and the management caused by Separation of ownership and control often leads companies to resort to incentive stock option (hereinafter referred to as ‘ISOs’). This paper is expected to give a reference for other public companies applying amalgamation of ownership and control to carry out EIP through analyzing the case of Inovance Tech.
中文关键词： 股权激励；股票期权；两权合一
案例入库时间：2015-09
