激励方式中的“手铐”——股票期权

The Handcuffs for Excitation Mode--Executive Stock Option (ESO)

股票期权作为激励方式中的“手铐”,将激励与约束很好地结合在一起,实现了经理人和股东利益实现渠道的一致性,作为一种长期的激励机制,实现了公司治理的帕累托改进,股票期权在中国的应用,有积极的一面,但也有其局限性。

As the handcuff for excitation mode, combining ESO with the restrict ion realizes the consistency of the interest source of the executors and shareho lders, and as a permanent excitation mechanism, it realizes some Patreto progres s in company management. The application of ESO in China has its active action a nd also has its limitation.