中文摘要：

针对我国企业内部资本市场效率低下，管理失控，治理结构不健全，管理层激励方式单一，内部资本市场运作理论体系急待健全的现实，本文将对管理层激励对内部资本市场配置效率的影响机制进行分析，从提高内部资本市场效率的层面系统研究我国上市公司管理层激励理论，提出相关治理对策，构建管理层激励和内部资本市场效率的关系模型。这对建立和完善我国内部资本市场资本配置体系，调节和管理企业集团内部不同利益主体的资本需求、促进企业集团健康发展具有重要的理论意义和实践意义。

英文摘要：

Faced with the reality of inefficient internal capital market, ill-controlled management, imperfect governance structure, simplified management incentive forms, and the to-be-improved theoretical system for internal capital market operation, this paper analyzes the influencing mechanism of the management incentives on the allocation efficiency of the internal capital market. It is a systematic study of the management incentive theory of China＇ s listed companies from the level of improving the efficiency of the internal capital market. It puts forward some relative governance measures and constructs a relationship model between the management incentives and the internal capital market efficiency. All of these are of great signifinance both in theory and in practise for establishing and improving the capital allocation system for China＇ s internal capital market, regulating and managing the capital requirements of the different interest groups within the enterprise, and promoting the healthy development of the enterprise groups.