股票期权的价值——股票期权激励方案设计的一个关键问题

The Value of Executive Stock Option——A Key Issue in the Executive Stock Option Planning

认识股票期权的价值对于微观方面的激励方案设计和宏观方面的公司财务监管都有重要意义。本文旨在说明股票期权价值评估方法,美国股票期权激励中期权计价和披露的政策,探讨股票期权价值评估方法在我国股票期权激励中的应用。

It is very important to identify the value of executive stock option, both for companies in executive stock option planning and for the governments in financial supervision over companies. This paper aims at explaining the method of evaluating executive stock option, the government policy on the pricing and disclosure of executive stock option plan in America, and exploring the way of applying the method of evaluating executive stock option in China＇s companies＇ executive .stock option planning.