The Improvement Of The GEM High-tech Enterprise Stock Option Incentive Contract

70s of last century,the stock option incentive mechanism of the birth,which aims to solve the principal-agent problems between modern corporate shareholders and senior management personnel,through long-term practice proved that in such a fast and effective way to greatly enhance the enterprise's development.However,although the stock option incentive system is a good starting point,implementation in foreign countries also made some achievements,based on China's basic national conditions have don't from abroad,so the stock option incentive in the practical application will face many challenges and questions.Especially many high-tech enterprises implementation of stock option incentive is there are a lot of problems,which are embodied in contract design is not standardized,the stock option incentive can't play the role of its application in the practical application,there is performance evaluation system is not standardized,implementation of the stock option incentive may become a disguised form of interest conveying means and so on.Therefore,the further study of the high and new technology enterprise stock option incentive contract has a certain theoretical and practical significance,can promote our country GEM listed company's stock option incentive contract improvements.This paper first introduces the theoretical basis of the concept of stock option incentive mechanism and incentive mechanism of the stock option,and then pointed out that China's GEM Listing Corporation,the status of implementation of incentive stock options,according to a variety of screening conditions,selected nine typical high-tech company as a case,the amount of incentives,the exercise conditions,the exercise arrangement etc.to analyze and compare,find their similarities and differences,they pointed out that the implementation of stock option incentive incentive evaluation index is too single,a suspected transfer of benefits and other issues,and extended to explore our environment,we found problems with effective solutions to improve the stock option.The incentive,in order to better play the role of the stock option incentive mechanism of China's gem high-tech enterprises,the real The development of enterprises has steadily increased.