摘要
股票期权计划在美国的迅速发展除了归功于它本身作为一种激励制度的优越性之外，还得益于美国政府税收政策的合理引导与规划。政府正是通过严格的、有条件的税收优惠来传达它的意图，保证期权计划的健康、顺利发展。本文深入分析了关国股票期权税收政策的成功纽险和负面影响，阐述了税收政策的变革历史与股票期权发展历史之间的关系，突显了税收杠杆在期权发展中所起的重要作用。而面对我国企业引入股票期权计划的必然趋势以及目前相关税收政策所处的“真空”状态，本文最後谈了几点启示。
The rapid development of stock option in US dues to the rational guidance and planning made by American government, besides the superiority of this inspiration mechanism. Just by the strict and conditional tax preference, American government communicates its intention and ensures the plan of stock option to develop healthily and smoothly. This paper deeply analyses the successful experience and the negative influence of stock option in US, and expounds the relationship between the history of the tax policy and the history of stock option in US. So it reveals that the tax leverage has an important effect on the development of stock option. We know it is an inevitable trend for our enterprises to introduce this inspiration mechanism, but our govenament has not made any tax policies of stock option, so we talk about some enlightenment at the end of this paper.
