一、绪论近年来,股票期权激励已成为现代企业激励制度中具有代表性的制度,它具有较强的长期激励与约束作用,很多中小企业都效仿上市公司采用这一措施。本文将通过分析中小企业(主要是未上市的股份公司或有限责任公司)实行股票期权激励所面临的问题,研究采用虚 I. INTRODUCTION In recent years, stock option incentive has become a representative system in the modern enterprise incentive system. It has a strong long-term incentive and restraint effect. Many SMEs follow the example of listed companies to adopt this measure. This article will analyze the problems faced by small and medium-sized enterprises (mainly unlisted joint-stock companies or limited liability companies) in implementing stock option incentives,