股权激励将公司的长远发展、股东的长期利益与管理层的切身利益紧密地结合起来,能最大限度地调动经营管理层的积极性,这对于国有控股上市公司尤为重要。尽管管理部门不断完善了相关制度,但现阶段国有控股上市公司股权激励却仍面临着以下问题:①股价非市场化使股权激励难以发挥作用。我国现阶段的股票价 Equity incentive will be the long-term development of the company, the long-term interests of shareholders and the immediate interests of management closely together, to maximize the enthusiasm of the management to mobilize, which is particularly important for state-controlled listed companies. Despite the continuous improvement of management systems, the state-owned listed companies still have the following problems in equity incentives: (1) Non-marketization of stock prices makes equity incentive difficult to play a role. China’s current stock price