对股票期权激励机制的探讨

Discussion of encouraging mechanism of stock option

股票期权激励机制能够使经营者与企业形成利益共同体,并能有效抑制经营者的短期化行为,降低代理成本,有利于提高企业的经营业绩,有利于吸引和稳定优秀的企业经营者。针对实行股票期权的各种障碍,要正确认识经营者人力资本价值,进一步培育和规范股票市场,建立健全经理市场和相关的法律规章制度,加快企业产权制度改革的步伐,确定科学的考核指标。

Stock option makes managers form profit community with the enterprise and reduce agency cost.It could effectively restrain managerial short-term actions.It is in favor of improving enterprise management performance and attracting stabling excellent SOEM.In view of all kinds of obstacles and problems,we should adopt relative countermeasures:first,breaking egalitarianism ideas and correctly recognizing managerial human capital value;second,further fostering and ruling stock markets,third,setting up and perfecting managers market,forth,setting up and perfecting a series of relative legal rules and regulations;fifth, accelerating the step for enterprise property right rules reforming;sixth,defining scientific check indexes.