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创业板上市企业的治理结构、资本规模、高科技特征及其高成长性都更适于采用股票期权制。创业板市场股票的全流通性、相关政策法规约束的调整使真正实行股票期权制成为可能 ;高科技企业人力资本的核心作用使得股票期权制可以发挥不可替代的激励作用。应该借鉴国外股票期权制的成功经验 ,解决我国试行股票期权制所暴露的问题 ,尽快制订适合于创业板市场的股票期权制的基本规则。
GEM governance structure, capital size, high-tech characteristics and its high growth are more suitable for the use of stock options. The full liquidity of the stocks in the GEM market and the adjustment of relevant policies and regulations make the real implementation of stock options possible. The core role of human capital in high-tech enterprises makes the stock options play an irreplaceable incentive role. We should learn from the successful experience of foreign stock option system to solve the problems exposed by the trial stock option system in our country and formulate the basic rules of stock option system suitable for the GEM.