经理人股票期权:费用观还是利润分配观?——由伊利事件引发的思考

Executive Stock Options: Expense Theory or Profit Distribution Theory——A contemplation over Yili Event

伊利事件说明新股份支付准则对经理人股票期权费用化的处理实施可能带来负面影响,而经理人股票期权的价值在于企业剩余索取权,进而参与企业剩余的分享。因此,只有将经理人股票期权确认为企业的利润分配而非现行准则所确认的费用,才能在会计上真正反映经理人股票期权的经济实质,消除股票期权费用化的负面影响,从而有助于推动股票期权的实施。为此应革新现行的财务会计观念与模式,使之适应企业经理人参与现代企业剩余索取权分享的现实。

This paper is to analyze the potential negative effects of the new accounting standards of stock payment on the transformation of executive stock options into expense through the Yili event. After discussion, the paper indicates that the value of ESO is executives＇ sharing of claim to the company＇ s residue. Thus, only when ESO is recognized as the company ＇ s profh distribution rather than the expense confirmed by the present accounting stand- ards, can it reflect the economic nature of ESO, eliminate those negative effects, and contribute to driving implement of stock options. Therefore, we should reform the current financial accounting concepts and model to adapt to the business environment where the executives participate in the sharing of claim to modern company＇ s residue.