The Research On Application Of Executive Stock Option System In The Reform Of State-owned Enterprises

With the continual perfection of socialist market economy system, higher and newer requirements have been put forward for state-owned enterprises. In the process of continuous deepening state-owned enterprise reform, it is urgent for solving problems of low management benefit which have puzzled state-owned enterprises for a long time. Although for improving management benefit of state-owned enterprise, many methods have been tried to adjust distribution relationship and diversified motivation has been given to arouse the enthusiasm of individual, enterprise and local government, effects are not as ideal as expected. Among them a very important reason lies in unsoundness of incentive mechanism for state owned enterprise managers. Traditional and stationary compensation incentive system is very limited for the incentive degree of managers, so managers only pay attention to short-term management benefit and ignore long-term investment projects. How to solve the problems of long-acting incentive of mangers? The writer thinks it can use for references to the executive stock option system of western countries. As a long-acting incentive system, executive stock option system has been proved in enterprise development practice for a long time and can provide a new idea for constructing a new long-acting incentive system of state-owned enterprise.This thesis in detail discusses necessity and feasibility of carrying out executive stock option system in China combined with the example of Hainan Coconut Palm Company on the basis of, study on executive stock option system at home and abroad, designs feasible carrying out methods and operation flow of executive stock option system especially the key links under the condition of present China. It provides a basic architecture of how to design executive stock option system projects of state-owned enterprises especially non-quoted enterprises and aims at providing some useful enlightenment and help of application generalization and perfection of executive stock option system further.