The Research On The Questio Juris Of Stock Ownership Incentive Of The Listed Company

"Stock ownership incentive of the listed company"refers to that within the range of Articles of associations and the adjustment of law, in order to long- term encourage and prompt all the employees service for the company diligently, the proprietor authorizes them among whom are largely operators a partial stock ownership of this company, thereby realizing an internal system of company that combines multivariate interests."Stock ownership incentive"is applied generally in the Western countries as a long-term incentive system and, especially his exertion in the in-company domain brings a positive effect to promote the company's achievement, to absorb and foster elitists and to strengthen and complete the structure of corporate governance.During the period of creation and development of our modern corporation system, especially after the'split-share reform', some listed companies make a reference and absorb this advanced system; they progress by trial and error in combination with their own conditions. Through the practice, it forms a specific mode of multiple'Stock ownership incentive'which includes the stock options, restricted shares, employee holding, management buyouts and etc, and it obtains a upstanding result. Meantime, the successive promulgation of related legislations also guides concretely the exertion of the"Stock ownership incentive of the public company"on the standard aspect and, it brings a realistic adjustment on this system.At the same time, as a long-term incentive system, the period that"Stock ownership incentive"was introduced into China is not long enough, it exists a lot of defect about the design of system and his execution. According to the jurisprudence, there are many conflicts regarding this definition among related regulations and legislations. Due to those troubles, the system can't play his maximum utility in our country. Based on that, for the purpose of proper realizing the its maximum incentive value on the internal listed company, we have to establish a unitized and harmonious system, design scientific and logical legislation, reinforce the surveillance from inside and outside during the period of the execution, and we also have to hardly harmonize the interests of all the employees as well as we ensure and guide the concentrate exertion of the system"Stock ownership incentive"itself.