Although there are many gaps in Chinese institution comparing with developed market country, the study on America also shows it is a reciprocity relationship between the maturity of the institutions and the implement of the ESOP.

• 虽然我国上市公司面临的制度环境存在着诸多差距，但对美国实施股票期权计划的研究也表明，股票期权计划的实施和制度环境的完善具有互动性。