我国上市公司股权激励的分析

随着经济体制改革和国企改革的不断深入, 工资制度的落后和国企经营管理者与作为股东的国有资产管理部门之间的委托———代理关系存在的利益冲突日益显现, 寻求解决委托———代理关系固有矛盾的办法和建立激励、约束经营者的机制成为企业改革与发展的重要课题。本文就近年来上市公司股权激励的实施情况进行了分析, 提出了实施过程中存在的问题和障碍, 并就这些问题, 通过借鉴国外期权计划的实践, 提出了稳步推进我国上市公司的股权激励工作的建议和设想。

The Analysis of the Stock Inspiration in Chinese Public Companies

With the reform of economy system and the deepening reform of the state-owed industries, the payment system is lagging behind, and the conflict is becoming patent, which insists in the substitutes relationship between the managers and the stockholders of the state-owed industries. Setting up the inspirition-obligation system so as to resolve the substitutes relationship becomes an important task for the reform & development in the state-owed industries. This article discussed the practice, the problems and obstacles of stock inspiration in Chinese public companies, and points out how we can stably advance MOS by studying the foreign experience.