| The state-owned enterprise's reformation is always a hot economic topic in our social life. How to advance the state-owned enterprise reformation and strengthen the vigor of the state economy is a long-term disputed topic in theoretic area. From the initial "plant manager responsibility system of factory director", to issuing the company law, carrying on the reform of making of company, and then get to "invigorate large enterprises while relaxing control over small ones", adjust the property right structure of state-owned enterprise. The state-owned enterprise reform has chased layer and reached the key question deeply from outward appearance to inner essence --the state-run property right transformation. There is a lot of model of handling the transformation of state-owned enterprise property, e.g. import foreign capital to transfer the state-run stock right, management board own stocks (MBO), hold share within enterprise staff and so on. Employee stock option is a new model of state-owned enterprise reformation which appears in some provinces recently. Speaking from the essence, it is one kind of promotion and application of rural share cooperation, gave all employees the rights of enterprise asset. Through the ratio adjustment between employer and employee to reached a profit balanced cooperation management model. Since the result in the small state-owned company is perfect, start to implement it into the large one in some places. This paper takes UC as an example, defines an applicable program of employee stock option. During the research, I studies and analyses the relevant theories of the employee stock option, with thoroughly compares of the advantages, shortages and the difficulties in the system. I hope this paper can offers reality for reforming system in this company and consulting, can offers reference for other large-scale state-owned enterprises also. |
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