经营者股票期权的若干理论与实务问题研究

【作者】 邓小毛；

【导师】 王远明；

【作者基本信息】 湖南大学 ， 经济法， 2003， 硕士

【摘要】 经营者股票期权渊源于20世纪70年代的美国，是股份有限公司经股东大会同意，给予公司经营者在未来某特定的时间按某一预先确定的价格购买一定数量的本公司普通股的权利。作为现代公司的一种激励机制，经营者股票期权旨在对公司经营者进行有效的长期激励，实现经营者与股东之间的利益捆绑。我国法学界对这一新兴法律制度的研究尚处于起步阶段，本文以理论与实践相结合的方法对此展开了研讨。在第一章中，作者阐述了经营者股票期权的概念、经营者股票期权制度的优缺点以及国外经营者股票期权制度的主要内容。在第二章中，作者对经营者股票期权的法律特征、法律性质、经营者股票期权法律关系等问题，在借鉴他人研究成果的基础上阐述了自己的观点。在第三章中，作者对经营者股票期权计划与经营者股票期权授予协议进行了研究。在第四章中，作者介绍了我国在经营者股票期权方面的实践情况，指出我国现阶段推行的经营者股票期权实际上是一种“期股”而非“期权”，与国外相应制度存在明显差距。在第五章中，作者分析了我国现阶段推行经营者股票期权制度面临的法律障碍，并提出了相应的对策。作者认为：建立我国的经营者股票期权法律制度是一项法律系统工程，涉及诸多部门法，主张修订与推行经营者股票期权制度不相适应的现行法律规定，以公司法为主体构筑起我国经营者股票期权法律制度的基本框架，辅之以证券法、税法、会计法、劳动法的相关规定，最终形成完善的经营者股票期权法律制度。更多还原

【Abstract】 Executive stock option (ESO), dated from America in 1970s, refers to operator’ right to purchase certain amount of their company’s common stock at a pre-fixed price during a specified period, which is granted by the incorporated company on the approval of general meeting of shareholders. Executive stock option, as an incentive system in modern corporate, aims to bring effective long-term incentives to operators and thus to realize the binding of interests between operator and shareholders. However, researches on this new legal system are still at the initial stage in our country. This thesis employing the integrating of theories and practice elaborates on this topic. In Chapter One, this article discusses ESO’s concept, and pros and cons of ESO, and main content of ESO legal system in foreign countries. In Chapter Two, this article using others’ research achievements for reference expounds on characteristics of law, legal nature, law relation of ESO. In Chapter Three, this article discusses ESO plans and agreement of conferring ESO. In Chapter Four, this article introduces the practice conditions of ESO in our country. It points out that ESO system in operation in our country is essentially an expectant stock rather than an option, and it obviously lags behind. In Chapter Five, this article analyses law obstacles to the practice of ESO system, and then offers solutions. This article suggests that the establishment of ESO legal system is a systematic project that will involve scores of branch laws. It states a framework with corporate law as its beam, assisted by relating regulations in securities law, tax law, accounting law, and labor law, will eventually develop into a complete and perfect ESO legal system.更多还原