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Student
Title
Supervisor
Faculty
Educational Programme
Final Grade
Year of Graduation
Irada Kerimova
Incentive System Design Based on the Stock Market's Instruments
Bachelor’s programme
2014
The increasing popularity of such long term incentive programs as stock option plans or stock granting to employees becomes evident not only worldwide but also in Russia. There is variety of reasons for it which makes such programs attractive for companies, among them is employees motivation, cost reduction and optimization, tax benefits, increasing company’s cash flow and consequent growth of sources for investments. At the same time there is immense difference between international and Russian practice concerning this issue. That difference in preferences is related not only to the exact stock market instruments of motivation but also to the duration of programs, range of employees who participate in granting, goals of such programs, expectations of companies owners and participants and etc.Another tendency which becomes evident is the participation in stock option plans wider range of employees from top management (which is common worldwide) to middle management and even basic staff. Reasons for such changes are investigated in the large variety of researches but mostly international and one of them which seems the most interesting from the investigative point of view is the opportunity to benefit on tax reduction and cost of employee compensation optimization in order to increase company’s investments.But of course as any other instrument these programs have its own disadvantages and they vary depending on the country in which they are implemented and Russia is not an exception on this issue and that is why implementation of stock option plans in Russia faces some problems. As far as the legislation concerning stock options granting to employees is not developed in Russia and taxation of such incomes is not well defined, the implementation of long term incentive programs in Russia may not seem justified to everyone.(Contacts: phone number - 89645363386, mail - irada10@mail.ru)

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