Executive Stock And Its Application And Research In Company

Executive stock option, based on the innovation of stock option contract, has been used extensively as a kind of salary system to encourage the business managers. Executive stock option is regarded as linking the manager's salary with the long-term value of the enterprise, thus successfully solving the operator's long-term stimulation problem, making the operator's interests in accordance with the long-term interests of enterprise, in this way it has enjoyed great popularities among enterprise and operators. But in practice, many problems of executive stock option have showed up and it has caused many disputes. Therefore, incentive mechanism and the application problems of stock option are studied in this dissertation, and this paper also analyzed the principle of its incentive functions, discussed the problems and solutions of the executive stock option in practice.A remarkable characteristic of modern enterprises is that the ownership separates from power of management, therefore has produced trust-agent contradictory, in order to weaken this contradiction, business circles and theory circle are exploring and practicing constantly. ESO system is undoubtedly a kind of very good system innovation which weakens this contradiction. ESO is a right afforded by the owner of the enterprise to the managers to purchase the enterprises stock in the future, according to the agreed price, It solve the contradiction that the rights of surplus-claiming and surplus-controlling don not match the capital ownership to a certain extent, therefore it makes the benefit between managers and owners unanimous inherently as much as possible. However, owing to the unsoundness of our market economic system, putting ESO in practice at present will suffer from many drawbacks, which no matter in laws and regulations, market system or company's administration structure, a lot of people also suspect about necessity and feasibility that the listed company of our country implement ESO, how to dispel these doubt and solve these drawbacks effectively is a key problem whether ESO will bring practical effect or not in China. Therefore, the research in this paper will has the realistic meaning for theory circles to probe ESO system, for enterprise circles to put ESO in practice and for governments to superintend and restrict ESO system normally.The original stock use the stock price as the criteria of operator the future exercise options Incentive plans performance assessment; accord the stock price to make price, but in reality there are Aiming at those two points, basing the EVA evaluation this article propose a many irrational factors plan of options incentive indicators.The paper uses the way of standard analysis, on the thinking of the writing, proceed from summary of ESO, has analyzed the necessity and feasibility that ESO system implements in our country emphatically, provide standardize the design plan of key-element in ESO system of suiting our country's national conditions finally.