经理人股票期权激励模式的研究

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1、AbstractWiththepoutingofthetrans-corporationconstantly,highlycompetitivemarketeconomybringstheopportunitytoenterprise，andalsomakesthedevelopmentofenterprisesfacethemanager。sstabilityandthecrisisofnewtalent’sintroduction．Atpresent，thepopularsalarystructureoflistedcompanyi

2、nourcountry,allmainlyfocusonencouraginginashorttime，andhaveignoredtheutilityoflong-termincentivemechanism．inordertoencourageandrestrainthemanagerfromstrivingforlong-terminterestsofenterprises，itshouldintroduceF．SOsysteminthefistedcompanywhichisavalidmethod．Researchonince

3、ntivemodeofESO，notonlyhavevalueintheory,butalsomakeaguidancefunctionofenterprise'sdevelopmentinpractice．ItisoneoftheconcernedhotquestionsforthetheoryandpracticehowtointroducethesystemofESOtocarryoneffectiveencouragementtothemanagers．Thisthesistookthecomparativeanalysisan

4、dappliedanalysismethodsandstudiedthisproblemfromf．vcaspects．Atfast,onthebasisofreviewingthestudyingprocessofexecutivestockoption,thethesisanalysedindepththeencouragingefficiencyandencouragingform．Discussiontheestimatesofencouragingefficiencyisanimportantcontentofstudying

5、ESO．Measuringtheencouragingefficiencylevelmainlymeasurethesensitivityofmanager'sremunerationtoachievement．Thehigherthesensitivityis,thehigherencouragingefficiencyleveltothemanagers．Accountingbasicperformanceandmarketbasicperformanceformthesuitablechoosenfoundationinenter

6、prise’spractice．ImplementofESOareinneedofaseriesofenvironmenttocooperate,butarenotthechangeofsimplemanagementanddistributionforms。ThisthesishasintroducedthebasicframeofESOindetail．ThenormalESOplanmainlyincludesSCVCDbasickeyelements：authorizedsubject，authorizedtarget，stoc

7、ksource，authorizedquantity,executiveprice，executivedateandperformanceevaluationindexes．Thisisatightandhugeproject．Thecompanygenerallysetsupsalarycommitteetoberesponsibleforthisprojectspecially．FinallyrepresentedbyChinaUnicornLimitedCompany,itshowedthedetaileddatamaterial

8、sthroughcomparingandanalysing,andappearedthattheconcreteimplementperformanceofESOplanduringthesixyears．