| As a public firm,listed company has more separated ownership and domination right because of the much stockholder and the more complex of manage art.In the United States firms are using employee stock options more and more frequently and in sharply large quantity from 1980.This great change can amalgamate key employees' benefit with company's interest and reduce company's principal-agent cost remarkably.But it took much problem in 1990's.While in China,for the limitation of stock market and law system,employee stock options are scarcely used by the listed company.It's urgent and very necessary for China to loosen policy restriction and allow the listed company using employee stock options and other stock-based employee compensation plans to incentive and detain their employees,especially senior managers and key technicians.The reform of equity division accomplished after two years of its beginning in 2005.After the amelioration of law system,China's Securities Regulatory Commission(CSRC) has issued a law to manage listed company's stock incentive behavior.These accelerate the number of listed company issue stock options to stimulate its key employees.After summarized the domestic and foreign employee stock options,limited the concept of employees stock options,introduced the employees stock options theory basis,and each kind of pattern which drove to employee stock options has been carried on the comparative analysis.Then,Elaborated the domestic and foreign employee stock options historical evolution and the present situation,and the mechanism which drove to the domestic and foreign employee stock options.Finally, analysis the proposed scheme and its actualization of stock option incentive of listed company Kingfa(600143). |
