摘要
当前 ,我国政府部门正积极推进产业界实施股票期权制度。为“防患于未然” ,要求我们对股票期权理论及其实证研究的来龙去脉有一个清晰和完整的掌握。股票期权是从员工参与制、员工持股制发展起来的 ,相关的理论基础有产权经济学、制度经济学、交易费用经济学和信息经济学等。对于股票期权的效率高低 ,不同的理论和实施研究得出了不同甚至相反的结论。我国实施股票期权不宜政府推广 ,而应取决于企业的市场行为。
At present, the government is actively promoting stock option the system. However,to'prevent trouble before it happens',we need have a clear and intact master on the ins and outs of stock option theory & practice. Stock option stems from the systems of staff participation and staff share holding,and the relevant theoretical foundation includes property rights economics, institution economics, transaction costs economics and information economics, ets. On the efficiency level of the stock option, different even opposite conclusions exist in different theories and positive research. The implementation of stock option in our country should not depend on the government's will, but on the market behavior of enterprises.
出处
《上海财经大学学报》
2002年第3期11-18,共8页
Journal of Shanghai University of Finance and Economics
关键词
发展
股票期权
理论研究
实证研究
stock option
theoretical research
positive research
