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“超产权论”是对“产权论”的继承和发展,运用“超产权论”的观点,从资本市场竞争、经理人市场竞争、产品市场竞争等三个角度去分析,运用股票期权计划机制来提高企业绩效,无疑是一种新的尝试。从企业角度看,资本市场竞争的实质是对企业控制权的争夺;经理人市场的实质是企业经营者的竞争选聘机制;产品市场的竞争对企业经营者的激励约束,既是对股票期权计划短期激励不足的补充,又有利于提高企业经营者的努力程度。而我国国有企业实施股票期权计划,在以上三个方面都存在不足,有必要加以完善和改进。
On the inheritance and development of “property rights theory”, “super property rights theory” uses the view of “super property rights theory” to analyze and apply the stock option plan mechanism from three angles: capital market competition, manager market competition and product market competition, To improve business performance, is undoubtedly a new attempt. From the perspective of the enterprise, the essence of the capital market competition is the competition for the control of the enterprise; the essence of the manager market is the competition and selection mechanism of the business operators; the incentive and restriction of the competition of the product market to the business operators is not only the right of the stock option plan Short-term lack of incentives to supplement, but also help to improve the level of efforts of business operators. However, the implementation of the stock option plan by state-owned enterprises in our country lacks in the above three aspects and is necessary to be improved and improved.