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With the coming of knowledge economy era, Personnel become important in the enterprise development, compared with other personnel, Executives are relatively prominent in the company, they not only directly affect the production and operation of enterprises, but also decide the enterprise’s development strategy, and thus establishing effective incentive and constraint mechanism of executives are critical.Government appeal to the modern enterprise system reform, to some extent, this resulted in difficulties for executives’effective incentive and constraint management, This paper takes the typical state-owned enterprise -- the shelfoil company of Dezhou as an example, Discuss how to carry out effective incentive and constraint system for executives, Arouse executives’enthusiasm, so that the company and the executives can achieve "win-win".The Shelfoil implement the modern enterprise system of separation of ownership and management, the academy of engineering act as capital owner, and the executives of the shelfoil act as manager, then produce the principal-agent relationship. When the owner and operator have different objectives, the operator will damage the interests of owners and the pursuit their own interests, and then produce the agency problem. The shelfoil should establish executives’incentive and constraint mechanism to effectively regulate entrust acting problem, avoid executives’" moral risk" and" adverse selection", realize coordinated development for the company and the executivesThis paper starting from the Entrusted agency system, First analyze the target responsibility book and the evaluation index system, Understanding the condition of executives’incentive and constraint system, analyze executives’incentive and constraint problems by further interviews. Finally, the author explores implementation of executive’incentives and constrains in the future, emphasis on Annual salary system, competition for the tenure system, assessment system, external supervision and spiritual incentive measures. The article makes suggestion of improvements for incentive system in state-owned enterprises, and provides further reference for depth study of incentive and restraint measures.
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