Study On The Construction Of Stock Option Stimulation System Of Chinese Enterprises

In China, the goal of enterprise reform is to build modern enterprise system. Under the system, the seperation of ownership and operating right of the enterprise results in the principal-agent problem. This is the core for the enterprise governance to solve. Stock option system is the effective measure to solve this problem. Stock option system is used more and more extensively by the enterprises in developed countries. But there exists difference between our country and developed countries in stock option environment. So it is necessary to study the construction of stock option stimulation system suited to our country's enterprises.On the basis of analyzing the present conditions and the restricting factors of Chinese enterprises' stock option stimulation system, this thesis puts forward the systematic train of thought of constructing Chinese enterprises' stock option stimulation system. And also raises five countermeasures to optimize our country's stock option environment.Chapter 1, the background, purpose , meaning and the research trends are introduced. Fundamental theories of stock option are exhibited in chapter 2, including the conception, the stimulation logic, the characteristic, the theory base and the stimulation effect. Chapter 3 is the positive analysis on practice of stock option stimulation system of Chinese enterprises. Four restricting factors are drawed up. In chapter 4, the systematic thinking of constructing Chinese enterprises' stock option stimulation system is as follows: two principles must be complied with; the enterprises range, the beneficiary and the stock sources are clearly designed; the concrete operating links and the effective management are also illuminated. Chapter 5 is the optimization of Chinese enterprises stock option environment. There are five factors of stock option environment. Five countermeasures are proposed to optimize our country's stock option environment.