论股票期权激励模式

On Stimulating Model of Stock Options

所有权与经营权相分离是现代公司运作的普遍特征 ,由此产生了所有者与经营者之间复杂的委托———代理关系 ,协调这种关系的关键在于如何有效地把管理人员的个体利益和公司的整体利益相结合 ,将管理人员的远期利益和公司的长远发展相结合。实施股票期权激励模式是一种较为理想和有效的方法 ,它使得管理人员“财富”的最大化与业主或股东利益最大化有机地结合在一起 ,使委托———代理关系的双方形成真正的利益、命运共同体。

The separation between ownetship and management,one of the common characteristics of modrrn enterprises result in the complicated relationship between agency and clientage.The key to the good coordination of the relationship lies in the appropriate combination of the interdsts of the long-term interests of the managers with the long-term development of the company.The stimulating model of stock options is an ideal and effective way to maximize the benefits of fhe management and owners or stockholders so that tag egency and the clientage share the same interest and the same destiny.