Shares Of Listed Companies The Option Design And Accounting Treatment

The Subject of the Thesis Persons, specially the chief managers and the key technical persons, who are one of the three production factors, mainly determine Enterprises' development and competitive ability. For this reason, it is necessary to design a kind of system to inspirit and restrict them. In the west, it has been testified that applying stock options incentive system can solve managers' long-term incentive and restrictive problem. However, our country is at the beginning of exploring stock options incentive system. Our stock market hasn't been mature so far. Our law and rule about stock options incentive system hasn't been perfect. So, we can't use the western Executive Stock Options incentive system in our enterprises, which is successful in western enterprises. Since China has already joined the WTO, enterprises must face the challenges brought by the globalizing economy. In our country, socialism market economy policy has already been established. Along with the increasingly deepening of state-owned enterprises' reform, the managers' long-term incentive and restrictive problem has stood out. In a word, we can't wait for the perfection of the law and rule about stock options incentive system. In order to solve the problem, we must start exploring it now to promote enterprises' development and improve enterprises' competitive ability.Exactly in such a background and for the above-mentioned reasons, this thesis makes " listed company stock options design and accounting treatment" its research subject. Based itself on the fact of the listed companies, referred the experience of the western stock options, combined theory with practice, this thesis researched the design of the listed companies' stock options and its accounting dealing deeply and systematically. After analyzing the mechanism and the effect of the stockoptions, the thesis brought forward the pattern——the phantom stock options model at the existed rule and law frameworks. Finally, aiming at this model, the thesis discussed the accounting dealing problem. This thesis is important for us to construct our stock options incentive system and to incentive the listed companies' managers and the key technical persons. The Structure of the ThesisAs a whole, this thesis is composed of preface and text. The preface introduces to readers the research subject, background materials and some other information about this thesis. The whole thesis is divided into four chapters: Chapter 1: the mechanism and effect of the stock options. It analyzes the concepts about the stock-based compensation tools, and then discusses the characteristics, principal essentials and the incentive principles of stock options. Last, this chapter analyzes the effect of stock options from positive and negative aspects and points out that granting chief managers stock options is propitious for them to avoid short-term behavior, realize their own value and reduce the cost of client-agent, etc. On the other hand, granting chief managers stock options has some negative influences, such as faking financial report and the manipulation of the stock market. Chapter 2: economics analyzing for the stock options incentive system. This chapter discusses the theoretical basis of granting chief managers stock options from economic perspective. Accordingly, it provides theoretical support for applying stock options incentive system to the listed companies. The stock options incentive system for chief managers is a systematic arrangement based on the acknowledgement of human capital and the development of the corporation theory. Furthermore, the development of the different branches of the corporation theory has testified the necessity of implementing stock options fromdifferent views again. Starting with the human capital theory, combined the client-agent theory and the interior-person control theory, this thesis analyzes how these theories are shown in the stock options incentive system. In the market economy, the chief managers and the key technology...