摘 要股票期权激励制度是一种薪酬制度，即将股票期权作为薪酬包的一部分授予高管人员、关键技术人员、专业人员或全体员工，以期解决委托—代理问题，促使雇员为公司的价值提升与长期发展做出努力。股票期权激励制度产生于美国，之后由于其良好的激励效果而得到巨大发展，使欧洲和日本等地的公司也纷纷效仿。我国企业一直存在管理者薪酬结构不合理,缺乏长期激励的情况,并因此导致损害股东利益和企业价值的短期行为的出现。本文股票期权基本原理—委托代理理论为基础，以系统工程方法为主线，从激励和薪酬制度角度研究股票期权激励模型、股票期权的问题并从中分析出解决问题的对策;利用定量研究与定性分析相结合的方法，研究股票期权的激励效应与绩效。关键词：股票期权 股基薪酬 应用 Abstract 1The incentive system of stock option is a kind of salary system, the stock option as part of the pay package awarded executives, key technical staff, professional staff or staff, in order to resolve principal-agent problems, prompting employees for the company's value promotion and long term development efforts. Stock option incentive system originated from the United States, due to its good incentive effect and get enormous development, to make way for the European and Japanese and other companies to follow suit. China's enterprises have been existing managers salary structure unreasonable, the lack of long-term incentive, and therefore lead to damage the interests of shareholders and enterprise value of the short-term behaviors emerge.Key words: stock option; stock based compensation; application2目 录引 言....................................................................3一、我国股票期权计划的概况................................................4（一）股票期权计划基本概述.............................................4（二）股票期权激励制度的特点...........................................41.灵活的选择机制...................................................42.不确定的未来收益....................................
