当股权激励在国外开展得如火如荼时,我国上市公司也从1999年开始尝试这种激励方式,然而激励效果却并不如人意。研究表明,我国上市公司管理层持股与否与持股多少跟公司绩效没有相关性,股权激励很容易沦为管理层掠夺股东权益为自己谋利的工具,甚至会成为国有资产流失的一个途径。很显然,在股票期权制度实施中,对有关管理机构的设 When the equity incentive is carried out in foreign countries in full swing, Chinese listed companies have also tried this incentive mode since 1999, but the incentive effect is not satisfactory. The research shows that the ownership of the listed company in our country is not related to the performance of the company, and the incentive of the stock right can easily become a tool for the management to plunder the shareholders’ rights and interests for their own profit. It may even become a way to drain the state-owned assets . Obviously, in the implementation of the stock option system, the establishment of the relevant regulatory agencies