我国上市公司股票期权激励问题分析 6.docx

我国上市公司股权激励问题分析摘要我国上市公司股权激励问题的破解有助于提升公司管理水平和员工工作积极性对于公司长远发展具有非常重要的意义。本文首先阐述了我国股权激励制度的发展历程和主要模式主要分为股权制度酝酿期、试点期和成熟期而模式主要有授予经理人股权和限制性股票然后提出了我国上市公司股权激励制度面临的法律不完善、公司内部治理结构不合理和激励模式单一问题接着剖析了美国股权制度的发展历程和出现的一些问题及对我国的启示最后对我国上市公司股权制度的未来发展提出了一些建议提出健全的法律法规、完善的内部治理结构以及有效的资本市场等是成功推行股权计划的几大关键要素建议的目的是为了推动中国上市公司股权的改革及发展。关键词：股权；期权价值；上市公司治理；期权激励机制AnalysisonstockoptionincentiveofListedCompaniesinChinaAbstractStockoptionistherightthatacompanygivesemployeestobuyacertainnumberofsharesinthecompanyatasuitablepriceinthefuture.Sincetheemployeesarebuyingthestockofthecompanytheirinterestsarecombinedwiththeinterestsofthecompanywhichcaneffectivelymotivatetheemployees'enthusiasm.Atthesametimetheenterprisedoesnothavetopayhighwages.Itisakindofinstitutionalarrangementthatcanmotivatetheemployeestoworkhard.China'sstockoptionincentivemechanismhasashortdevelopmenttime.IfwewanttoproceedsmoothlyweshoulddrawonthemanagementmodelofwesterndevelopedcountriesespeciallyintheUnitedStatesandcanpromotethelong-termandeffectivestockoptionsforbusinessoperation.ButtheincentivemechanismofstockoptionisnotperfectintheUnitedStates.IthasalsoappearedinthehistoryofdevelopmentsuchasfinancialfraudavoidingtheproblemsthathaveappearedintheUnitedStatesandestablishingalong-termmechanismofequityincentivewhichisthedirectionofourlistedenterprisesandsupervisiondepartments.Theintroductionofthisarticlemainlyexpoundstheconceptandtheoreticalfoundationoftheincentivemechanismofstockoption.ThefirstandthesecondpartexpoundsthecurrentsituationandproblemsoftheequityincentivesysteminChina.ThethirdpartmainlyexpoundsthedevelopmentcourseandsomeproblemsoftheAmericanstockoptionsystemandthefourthpartisonourcountry.Somesuggestionsareputforwardforthefuturedevelopmentofthestockoptionsystemofthe