试论国有企业实行经营者期权制的利与弊

On Advantages and Disadvantages of System for Managers' Office-term Rights Implemented in State-owned Enterprises in China

期权制这个诞生在美国并在西方正大行其道的“东西” ,目前正在被我国许多企业引进、移植、仿效。期权制的产生 ,的确在市场经济中发挥了重要的作用 ,不失为一种制度创新。在当前深化我国国有企业改革 ,促进国有企业发展的过程中 ,寻求并建立一种有效率的与激励和约束机制相对应的制度安排 ,就成为现代企业理论所关注的核心问题。通过对期权制的利弊分析 ,可以为探索适合我国国情的、能更有效激发国有企业经营者积极性的企业权利结构和有关价值分配的制度创新做一些尝试。

The system of office-term rights,which was born in the U.S and has great influence in the West,is being now imported,transplanted and imitated by many enterprises in China.The emergence of the system has played an important role in market economy and is a system innovation.In the present course of deepening reforms of state-owned enterprises and promoting state-owned enterprises'development,to find out and establish an efficent system arrangernent combining stimulation with discipline may become a centre which is concerned by modern-enterprise theory.Through analysing advantages and disadvantages of the system.we can explorr some system innovation which may be suitable for our country's situation ,stimulate managers' enthusiasm of state-owned enterprises with structure of enterprise rights and other value distribution.