股权即所有权，是支配企业的关键。因此股权战略的核心是股权参与度的高低，即企业在战略联盟、战略并购、股权置换等股权交易中拥有的股权比例大小。一般来说，影响企业股权战略的因素主要有以下几个，山东股权激励公司为您讲解。

Equity, namely ownership, is the key to dominate the enterprise. Therefore, the core of equity strategy is the level of equity participation, that is, the proportion of equity owned by enterprises in strategic alliances, strategic mergers and acquisitions, equity exchange and other equity transactions. Generally speaking, there are the following factors that affect the equity strategy of enterprises. Shandong Equity Incentive Company will explain to you.

企业自身情况

Enterprise's own situation

在市场扩张过程中，如果企业竞争优势明显、地位强势，可采取收购或集中控股;反之，则可以采取联盟或置换策略。

In the process of market expansion, if the enterprise has obvious competitive advantage and strong position, it can adopt acquisition or centralized control; On the contrary, alliance or replacement strategy can be adopted.

投资环境风险

Investment environment risk

投资环境风险会直接影响企业的股权战略选择。

The investment environment risk will directly affect the equity strategy choice of enterprises.

对象国的投入环境。

The investment environment of the target country.

一是法律因素，如果对象国对外商独资有严格的限制或差别待遇，则可合资。二是有无合适的合作伙伴，其拥有的出产要素资源是否与本企业有较强的互补性，有则合资。

The first is the legal factor. If the target country has strict restrictions or differential treatment on wholly foreign-owned enterprises, it can be a joint venture. The second is whether there is a suitable partner, and whether its production factor resources have strong complementarity with the enterprise, and whether there is a joint venture.

成本与收益分析

Cost and benefit analysis

考虑到不同股权结构下边际收益与边际成本的差额，基于决策利润大化原则，企业会选择不同的股权战略。

Considering the difference between marginal income and marginal cost under different ownership structures, enterprises will choose different equity strategies based on the principle of maximizing decision-making profits.

股权战略的问题起源

The problem origin of equity strategy

从国际化经营企业角度出发，当然要求对外直接投入采取独资的形式，牢固控制所投入的企业，维持企业在技术垄断、经营诀窍、产品质量和商品信誉等方面的优势，确保对外投入收益大化。

From the perspective of international enterprises, it is of course required that foreign direct investment take the form of sole proprietorship, firmly control the enterprises invested, maintain the advantages of enterprises in technology monopoly, business know-how, product quality and commodity reputation, and ensure the maximization of foreign investment income.

但是依对象国的立场，则希望既要引进外资，又要保护民族经济，特别要避免国外企业控制本国的经济命脉，因此通过种种手段竭力将国际企业的经营纳入本国经济进展轨道，并加强控制。

However, according to the position of the target country, we hope to introduce foreign capital and protect the national economy, especially to prevent foreign enterprises from controlling the economic lifeline of our country. Therefore, we should try our best to bring the operation of international enterprises into the orbit of our country's economic progress through various means and strengthen control.

如经济手段方面，对区别股权结构的合资企业规范区别的雇工政策、外汇管制及税收待遇，诱使国外企业与本国合资；法律手段方面，则规范合资企业中本国投入至少拥有的股份比例，迫使国外企业出售部分股权。

For example, in terms of economic means, we should regulate different employment policies, foreign exchange control and tax treatment for joint ventures with different equity structures, so as to induce foreign enterprises to make joint ventures with their own countries; In terms of legal means, it regulates the proportion of shares at least owned by domestic investors in joint ventures, forcing foreign enterprises to sell some shares.

面对现在的局面国际化经营企业不得不认真考虑自己的股权战略：一方面确保对所投入的企业的控制权，另一方面也满足对象国的要求，规避有关政策的限制，尽可能获得政策优惠，并树立在对象国的良好形象。更多相关内容就来我们网站http://www.guquanzhanlue.com咨询吧！

In the face of the current situation, international enterprises have to seriously consider their own equity strategy: on the one hand, to ensure the control of the invested enterprises, on the other hand, to meet the requirements of the target country, to avoid the restrictions of relevant policies, to obtain preferential policies as much as possible, and to establish a good image in the target country. Come to our website for more relevant content http://www.guquanzhanlue.com Ask!