The Study on Incentive Mode Design of Pay-Through Phantom Equity


Phantom equity incentive in enterprises can be mainly divided into two modes: pay-through phantom equity and pure phantom equity. The main difference is whether the incentive object needs actual investment and whether they have phantom stock option. This research makes a comparative study on pay-through phantom equity and pure phantom equity, and designs a practical incentive mode of pay-through phantom equity.

Share and Cite:

Dai, L. and Zhou, Q. (2015) The Study on Incentive Mode Design of Pay-Through Phantom Equity. Journal of Human Resource and Sustainability Studies, 3, 46-50. doi: 10.4236/jhrss.2015.31007.

Conflicts of Interest

The authors declare no conflicts of interest.


[1] Aggarwal, R.K. and Samwick, A.A. (2006) Emprie Builders and Shirkers: Investment, Firm Performance and Managerial Incentives. Journal of Corporate Finance, 12, 489-515.
[2] Lv, C.J., Zheng, H.L., et al. (2009) Equity Incentive System Design in Listed Company: Incentive or Welfare? Management World, 9, 133-147.
[3] Zhou, Q.H. (2014) The Study on the Phantom Equity Mode of Enterprise. Money China, 5, 120.
[4] Miao, X.Y. (2005) The Virtual Equity Incentive of Listed Companies. Human Resources, 11, 60-62.
[5] Yang, F.R., Dou, H.S. and Zheng, Q.Q. (2011) Phantom Equity Incentive Design on the Basis of Human Resource Value. Commercial Age, 18, 87-88.
[6] Su, D.W. and Lin, D.P. (2010) Equity Incentive, Earnings Management, Enterprise Governance. Economic Research, 11, 88-100.
[7] Wang, H. (2012) Virtual Equity Incentive Plan. Enterprise Management, 7, 46-47.
[8] Xie, Z.Y. (2014) The Research on EVA Phantom Equity Incentive Mode Based on Enterprise Growth Cycle. Decision-Making Participation, 1, 55-59.

Copyright © 2022 by authors and Scientific Research Publishing Inc.

Creative Commons License

This work and the related PDF file are licensed under a Creative Commons Attribution 4.0 International License.