non-par value stock

According to the model, the combined incentive model is put forward, which includes annual salary design on the implicit value, bonus and stock based on the performance, non-monetary incentive based on implicit demands.

在此基础上，提出基于隐性价值的年薪设计、基于绩效的奖金与股权设计、基于隐性需求的非物质性激励的综合激励模式。

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In this thesis, the quantitative analysis mode of the comparative value that non-circulation shareholder should pay for the circulation shareholder is put forward, then a stock-paid method mode based on the zero-sum hypothesis is set up.

首先提出非流通股向流通股支付对价的定量分析模型，进而根据零和假设推出送股方案定量分析模型并指出了影响送股率的因素。

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So we propose three ways to inspirit TMT& annual salary design based on implicit value, performance-based bonus and stock ownership, and non-material incentive portfolio mode as well, which can overcome shortcomings of traditional single explicit material incentives system.

提出了基于隐性价值的年薪设计、基于绩效的奖金与股权设计、基于隐性需求的非物质性激励组合模式，克服了传统的单一的物质性显性激励的局限性。

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