摘要
期权、期股的最大优点是将企业价值作为经营者个人收入函数的一个重要变量 ,从而作为一种长期激励约束机制 ,实现了所有者与经营者利益的一致性。期权、期股对我国国有企业改革具有特别意义 ,是解决国有企业经营者激励约束机制的较好方式之一。
It's the most advantage of stock options and futures that it takes enterprise value as a important variable in function of manger income, and makes the interest of owner be consistent with that of manager as long-term encouraging and restraining mechanism. It is of special significance for reforming state-owned enterprise to carrying on stock options and futures in our country, and is a better way to resolve mechanism for encouraging and restarting in state-owned enterprise.
关键词
股票期权
期股
激励约束机制
特点
Stock options
Stock futures
Mechanism for encouraging and restraining
