The Research On Manager Stock Options From The Perspective Of Management And Finance

In the world top 500 companies till 1996, there are 89% companies that have established the Stock Option System for the advanced managers. However, surveying our more than 20 years reforming practice, we have not established marketing encouragement system of the runners yet. So researching and borrowing the experience and lessons of the developed marketing economic country, and bringing the Manager stock Option System to China have very great significance.Through comparing and analyzing the theory and practice of the stock option home and abroad, I try to find out the factors which effect the carrying-out of the Manager Stock Option in our country, and put forward some policy proposals on how to improve the presidential environment to bring in the Manager Stock Option Encouragement System successfully. In addition, with the help of the modern enterprise theory, I analyze the Manager Stock Option theoretically, draw out the economic essence of the Manager Stock Option, and discuss the issues of accounting confirmation and measurement from the economic essence, that is, the essence of the Manager Stock Option is that the enterprise managers share the enterprise profits, which should be confirmed as the enterprise profit distribution instead of the present expense processing in the accounting. Since this accounting processing does not influence the profit form, the public value method can be adopted in the measurement. This method will more scientifically reflect the value. Considering that most of our going –on market companies lack the achievement checking institution, I suggests bringing the EVA to the Stock Option System, and in this way, the outstanding achievement index will reflect the value that the managers create for the stockholders.