一.背景在公司治理方面堪称楷模的美国,近来却频爆公司丑闻,随着公司虚假财务的曝光,股票缩水,股价大跌,普通股票持有者手中的大量股票顷刻之间变成一堆废纸,而这些公司的高管人员却中饱私囊,在公司东窗事发之前大量抛售股票,套取巨额现金。素有“金手铐”之美称的经理股票期权制度曾在20世纪90年代为美国新经济的增长做出重要贡献,然而现在却受到越来越广泛的 I. Background The United States, an example of corporate governance, has recently experienced a corporate scandal. With the company’s fake financial exposure, its shares have plunged and stock prices have plummeted. The large stocks in the hands of ordinary shareholders instantly turn into one Pile up waste paper, and the executives of these companies are full of pockets to sell a large number of shares in the company before the incident, to withdraw huge sums of cash. The manager stock option system known as “gold handcuff ” had made an important contribution to the growth of the new economy in the United States in the 1990s, but now it is increasingly widespread