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股票期权激励机制发挥作用的隐含条件是一系列制度安排的保障,如健全完善的资本市场、竞争性的经理市场和产品市场,国家的政策法规允许、人们的意识形态转变(特别是对企业家才能和价值的认同)等等。从我国目前的情况看,实施股票期权激励机制存在以下的制约条件:(1)资本市场特别是股票市场不健全。过度投机、恶意操作和“泡沫”现象,使股票不能真实
The implied conditions for the role of stock option incentive mechanism are the protection of a series of institutional arrangements, such as sound capital market, competitive manager market and product market, national policies and regulations to allow people to change their ideology (especially for enterprises Home talent and value recognition) and so on. Judging from the current situation in our country, the implementation of incentive mechanism of stock options has the following constraints: (1) The capital market, especially the stock market, is not perfect. Excessive speculation, malicious operation and “bubble” phenomenon, the stock can not be true