对于企业创始人来说，股权代表了他拥有公司的权利。当创始人缺少资金、资源时，便可以使用股权去获得拥有实际价值的东西，实现公司价值的持续增长。

For the founder of a business, equity represents his right to own the company. When the founder is short of funds and resources, he can use the equity to get something with real value and realize the continuous growth of the company's value.

于是，这个过程就变成用股权交换资金、资源、人脉的交易。这样股权也可称为“商品”，商品的本质是价值，商品是用来交换的，换取自身需求的东西。所以，股权的价值不仅仅只是分钱，对于企业的创始人来说，股权的价值更应该是去交换别的拥有实际价值的东西，满足自身需求的同时，获取更多的利益，以此博弈。

As a result, this process becomes a transaction of exchanging equity for capital, resources and contacts. In this way, equity can also be called "commodity". The essence of commodity is value. Commodity is used to exchange for what it needs. Therefore, the value of equity is not just money, for the founder of the enterprise, the value of equity should be to exchange other things with real value, to meet their own needs, at the same time, to obtain more benefits, in order to game.

股权激励，是企业为了激励和留住核心人才而推行的一种长期激励机制。股权激励，也可称为是一个用股权换取员工人力资本的交易.

Equity incentive is a long-term incentive mechanism for enterprises to motivate and retain core talents. Equity incentive, also known as an exchange of equity for human capital

我们可以了解到，股权激励就是使用股权的一种方式，但其实股权激励的模式也是有许多的，不同的股权激励模式有不一样的效果，接下来介绍几个常用的股权激励模式的优缺点。

We can understand that equity incentive is a way to use equity, but in fact there are many modes of equity incentive. Different modes of equity incentive have different effects. Next, this paper introduces the advantages and disadvantages of several commonly used equity incentive modes.

一 股权激励模式：虚拟股的优缺点

Equity incentive mode: advantages and disadvantages of virtual stock

虚拟股票指公司授予激励对象一种虚拟的股票，激励对象可据此享受分红权和股价升值收益，但没有所有权、表决权，也不能转让和出售，离开企业自动失效。

Virtual stock refers to a kind of virtual stock granted by the company to the incentive object. The incentive object can enjoy the dividend right and the appreciation income of the stock price, but it has no ownership, voting right, and can not be transferred or sold. It will automatically become invalid when leaving the enterprise.

优点：虚拟股票发放不会影响公司的总资本和所有权结构，无需证监会批示，只需要股东大会通过即可。

Advantages: the issuance of virtual stock will not affect the total capital and ownership structure of the company, without the approval of CSRC, only need the approval of the general meeting of shareholders.

缺点：公司的现金压力较大，虚拟股票的行权和抛售时的价格难以确定。

Disadvantages: the company's cash pressure is large, and it is difficult to determine the exercise and selling price of virtual stock.

二 股权激励模式：员工持股计划的优缺点

Second, equity incentive mode: the advantages and disadvantages of ESOP

员工持股计划是指公司内部员工个人出资认购本公司部分股份，并委托公司进行集中管理的股权激励方式。

Employee stock ownership plan is a kind of equity incentive mode in which the company's internal employees subscribe for part of the company's shares and entrust the company to carry out centralized management.

优点：能增强企业的凝聚力、竞争力，可以调动员工的积极性。

Advantages: can enhance the cohesion and competitiveness of the enterprise, can mobilize the enthusiasm of employees.

缺点：员工可能需要支出现金或承担贷款。福利性较强，激励性较差。平均化会降低员工积极性。

Disadvantages: employees may have to pay cash or take on loans. Welfare is strong, incentive is poor. Averaging reduces employee motivation.

三 股权激励模式：业绩股票

Three equity incentive mode: performance stock

业绩股票也是股权激励模式的一种。公司呢确定一个较为合理的业绩指标，如果激励对象到预定期限达到预定目标，则公司授予其约定数量的股票或提出约定奖励用于购买公司股份。

Performance stock is also a kind of equity incentive mode. The company determines a more reasonable performance index. If the incentive object reaches the predetermined target within the predetermined time limit, the company grants the agreed number of shares or proposes the agreed reward to purchase the company's shares.

优点：业绩股票可以让激励对象的工作绩效和所获激励之间联系紧密。对公司而言，激励对象有明确的业绩目标约束，权责利对称性强，能形成双方共赢局面。

Advantages: performance stock can make the work performance of the incentive object closely linked with the incentive. For the company, the incentive object has a clear performance target constraints, power, responsibility and interest symmetry, can form a win-win situation.

缺点：对初创期企业不适合，主要是和于业绩稳定并持续增长、现金流充裕的企业。业绩目标的科学性也很难保证，并且激励对象抛售股票受限制。

Disadvantages: not suitable for start-up enterprises, mainly for enterprises with stable performance and continuous growth and abundant cash flow. It is difficult to guarantee the scientificity of the performance target, and the incentive object to sell stocks is limited.