Study On Excutive Stock Option Incentive System Of Issue Corporations Based On EVA

A sound incentive and constraint mechanism is the important part of improving the governance of listed companies, to regulate the operation of listed companies and the long-term development. Along with the steady development of the securities market and working smoothly of share-trading reform, the listed companies'incentive and constraint mechanisms have received increasing attention, especially equity incentive mechanism. Good equity incentive mechanism can fully mobilize the enthusiasm of the operators, and can combine the interests of shareholders, and corporate with operators together, thereby reducing the short-term behavior and managers being more concerned about the long-term development of enterprises.The paper focused on identifying the issues related to equity incentive. The study firstly identified the ESO'developments home and abroad, and investigated ESO and EVA'rationales, principles and inspired theoretical basis in great depth,especially George Solos'reflexible theory. On this basis, we combined the performance assessment system KPI and BSC with ESO, and created BSC-KPI ESO based on EVA models of the incentive mechanism for the various elements of a careful design, including: introduce EVA to traditional ESO plan. Set a performance assessment indices BSC-KPI system. Use AHP method for weight basis. Surply method to how to determine the proportion of the settlement options and the price of admission prices and so on. To these key technical issues, we manage to give corresponding regulatory proposals. Finally, combined with a company's actual situation, we established the relevant performance indicators for the evaluation system; use the designed model for example as a certification and proof of the feasibility and utility of the model.