对股票期权激励机制的冷思考

Reconsidering the Motivation Mechanism of Stock Option in China

本文首先讨论了股票期权的积极作用及可能产生的消极影响，在此基础上，重点分析了目前我国实施股票期权所面临的制度环境，最后的结论是，目前我国并不具备实行股票期权的成熟条件，股票期权在我国的广泛实施不能一蹴而就。

In this paper, firstly, we discuss the positive role and the negate role played by stock option． Secondly, we make an effort to analyze the institutional environment of putting stock option into practice in China． At last, we conclude that now it is premature to put stock option into practice widely．