中国企业股票期权行权期限问题研究

Research on Vesting Period of China Enterprise Stock Option

行权期限作为股票期权激励机制的基本要素之一,是影响股票期权激励机制发挥作用的关键。股票期权行权期限在中国实际应用中存在法律法规不规范,证券市场不健全,职业经理人市场不完善及公司治理结构、生命周期不成熟等问题。因此,应加大研究力度,提高调研人员素质,规范法律法规,完善公司治理结构,建立健全市场体系,以实现合理的股票期权行权期限确定机制。

As one of the basic elements of stock option incentive mechanism,the vesting period is the key role affecting stock option incentive mechanism.Vesting period of stock option in China＇s actual application exist many problems,such as lack of laws and regulations standardization,defective securities market,imperfect professional managers market and immature corporate governance structure and life cycle.Therefore,we should intensify research strength,improve research staff quality,standard legal laws and regulations,improve corporate governance structure,establish and perfect the market system,in order to realize the reasonable confirm mechanism of vesting period of stock option.