期股的证券市场理论基础

On Cultivating Securities Market to Practice Stock Option

股票期权是企业资产所有者对企业经营者实行的一种长期激励的报酬制度。我国自引入这种制度后，实践中并未发挥出预想的作用。究其根源，固然不乏法律制度的障碍，操作层面上公司法人治理结构的缺陷等方面的原因。但在现行体制下，要设计一套行之有效的股票期权激励机制，亟需建立期权市场，花大力气培育证券市场。

Stock option has brought unexpected effect since introduction. The causes exist in law system , corporate governance and so on. In order to exert the function of stock option it is necessary to uprear the option market and develop securities market under the existing structure.