Analysis On The Utilization Of The Incentive Of Stock Option In China's Enterprise

If a country or region want to obtain healthy, fas, lasting economic development. Generally it needs to train and rely on its successful enterprises. While enterprises want to acquire success, it must design a set of system which can guarantee the enterprise resources (can be summed up in the human resources and materials resource, or manpower capital and materials capital) can be fully utilized. But along with the gradual progress from the classical enterprise system into the modern enterprise system , and the separation of ownership and right of administration, the problem of entrust - represent has became more and more serious. The consequences that related to this are the morals risk of manager and the plenty of wastes of enterprise resource. Therefore, how to design a system to solve the consequence brought by entrusting - represent problem has became a focus problem for economy circle and the practice. In theoretical research and practice inspection, stock option as a system and arrangement which can establish the long-term encourage mechanism for a enterprise is considered as a " good medicine " to the problem, and therefore it got rapid development in last 20 years, get highly praise in the enterprises of western countries. After 1990, it have presented a tendency of internationalization. Moving towards the world, Chinese enterprises of internationalization and globalization have to comply with this world trend. Therefore the enterprises of our country will unavoidable adopt stock option system step by step, so to reduce agency cost, and raise social welfare.This paper firstly made a summarization from the aspects of the conception, sort, and function of stock option. Soon afterwards elaborated the theoretical foundation of stock option from the views of principles of encourage and running of stock option, modern enterprise theory and manpower capital theory. The following the 3th chapter and the 4th chapter have introduced the development of stock option abroad the practice situation in domestic, which focused on certificate analysis ofthe 34 public companies which have really implemented stock option. In the final, the paper analyzed the problems that appeared in the implement practice of stock option encourage in our country, and made some policy suggestions. Meanwhile, the paper have designed a frame scheme for the public company's enforcement of stock option in our country.