Research And Design On The Enterprise Executive Stock Option (ESO) Motivation Mechanism

Based on the problem between enterprise executive motivation and the performance, and by means of the theory of behavior science motivation and the entrustment-agent relation in economics, the paper successively study the content of enterprise executive motivation, enterprise executive stock option (ESO) motivation, enterprise (ESO) motivation mechanism and design, and gives the (ESO) motivation model suitable for the present situation of the enterprise in our country, hoping to reveal the motivation problem.The paper discuss the essence of motivation problem that is the economical behavior of the capital resource owners convey part of the profit share to the intellectual resource which become the core resources instead of the capital resources in intellectual era in order to solve the entrustment-agent problem, and indicate that the result is determined by the status of intellectual resource in society production process.By analyzing and studying the theory and practice difficulties of implementing ESO motivation in domestic enterprise, and referring the essential character of the enterprise, especially the state-owned ones, the study suggest that the key point of theory and practice of designing motivation mechanism is property right system which need to establish modern enterprise system based on perspicuity of property right, that the key joint of designing and implementing ESO is setting up the reasonable examination system for solving both the lack of incentive and restrict, recommending EVA method as the performance examination system, and that the considerable relation of present and further for operating ESO is connecting the short term incentive coming from the enterprise with the long term motivation from stock market.At final, according to the analyze of experience on motivation mechanism design home and aboard, adopting the reasonable result of ESO motivation in west countries as well, the paper designs the alterable motivation mechanism combining the basicsalary, the EVA bonus and the stock combination as the income structure. The validity and applicability analyze show that the design realizes the unification of examination method, therefore suitable for most of enterprise by introducing the EVA method to examine the executives' performance, and that the income structure is easy to operate and accord with the situation of both the state and the enterprise...