(一)基于高层梯队理论的股权激励治理效应的作用机理股权激励作为企业对于经营者实施的一种长期激励方式,实施对象是人,其作用的发挥需要通过实施对象即人的行为表现(经营决策、投资决策等)及行为结果(企业绩效)得以实现。心理学研究表明,人的行为充满复杂性,受到外界多种刺激因素的影响,主要受心理活动的支配。高层梯队理论融合了心理学及管 (A) the mechanism of equity incentive governance effect based on the theory of high-level echelon Equity incentive as a long-term incentive for enterprises to implement a business, the implementation of the object is a person, its role needs to be implemented through the object that the performance of people (business Decision-making, investment decisions, etc.) and behavioral outcomes (business performance). Psychological studies show that human behavior is full of complexity, influenced by many external stimuli, which are mainly controlled by psychological activities. High-level echelon theory combines psychology and management