中小企业实施期权激励的博弈分析

文章通过建立博弈模型，研究了目前虚拟股票激励模式存在的不足，指出上市公司存在较高的市盈率导致理性的中小企业经理人不愿意付出附加努力，因此在中小企业中实施股票期权激励制度并不能达到理想的博弈均衡。最后，文章提出了解决的方案。

The Game Model Analysis of Incentive Options for the SMEs

Establishing the game model, the article points to the inadequacy of stock incentive and the fact that the high price and earning ratio of the listed companies makes the bright executives unwilling to work harder and that using this incentive will not reach the game model balance. Finally, the article proposes some countermeasure.