在企业内部实行股权期权制是目前国企改革的一个重要内容 ,被认为是解决国企经营者长期激励的一个重要策略。然而 ,要有效地发挥它的激励作用 ,除了完善的资本市场、经理市场和法律保障等外部条件外 ,行业特征、企业特征以及经营者和员工的组织承诺等因素也会影响其激励作用的发挥。因此 ,合理的股权结构设计 ,既是一种激励策略 ,也是企业长期发展战略的体现 The implementation of the equity option system within an enterprise is an important part of the current state-owned enterprise reform and is considered to be an important strategy for solving long-term incentives for state-owned enterprise managers. However, in order to effectively play its role as an incentive, in addition to perfect external conditions such as the capital market, managerial market, and legal protection, factors such as industry characteristics, company characteristics, and organizational commitments of managers and employees will also affect the use of incentives. . Therefore, a reasonable ownership structure design is not only an incentive strategy but also a reflection of the company’s long-term development strategy.