The Study Of Implementation Of Stock Option Incentive Mechanism In State-owned Commercial Banks

Stock Option incentive mechanism, as a long-term motivating mechanism, originated from the USA, and now has extended too many countries in the world owing to its remarkable role in motivating and restraining the corporate managers. From the 1990's, some of the Chinese enterprises began to try out stock option plan, however, the stock option plan did not give full play to its motivating function, and in general, the stock option had not been implemented in a standard way, naturally, the anticipated results haven't been achieved yet. The new Company Act and Security Act and other related laws and rules have begun to prepare necessary conditions for the implementation of share-based compensation plans.In the late twenty centuries, the stock option incentive mechanism has been widely applied in the bank industries corporation governance in western countries and Hong Kong. Among the four state-owned commercial banks, Construction Bank of China, Bank of China and Industrial and Commercial Bank of China have successfully been listed overseas. Moreover, the Agricultural Bank of China is on the way of preparing. On Dec. 2006, China has opened its financial industry thoroughly, besides of the 12 national share ownership commercial banks, 6 banks have been listed. Under this fierce competitive circumstance, it is crucial to adopt stock option incentive mechanism. The implementation of the stock option plan in China state-owned commercial banks will enhance the competitive power, improve corporation governance, prevent human resources outflow, and overcome the enterprise idiosyncratic human capital owners' short-term action during corporation operation.Based on the Principal-agent theory, theory of Human Resource and theory of the Right of Surplus Claim, this dissertation discusses the theoretical bases of stock option in the aspects of economics and corporate management, which shows it's quite natural and certain that the stock option has constituted an important part of the modern motivating theory. It analyses the implementation of stock option in western, especially American bank industries, and then discussed the necessity of stock option in state-owned commercial banks. In the 4^th chapter, the thesis puts forward the suggestion on optimizing the environment of stock option plan implementation: to perfect the capital market, to establish and consume professional manager market and the corporate governance etc. finally, based on the theoretical analysis and surveys on the related clauses in the stock option plan, it actively designs appropriate major factors that stipulate the stock option, and make the plan adapt the concrete condition of our country.