关键词: 雇员股票期权, CWZ模型, 核算

Abstract: According to the recommendation of treating employee stock options as employee remuneration in SNA2008, the employee stock option is formally included in the National Accounts of China 2016 issued in 2017, but no specific data has been released so far. Based on the pricing model of employee stock options proposed by Cvitani et al. (2008), combined with the phased execution model of performance conditions attached to stock options in China, and taking the data of A-share listed companies in Shanghai and Shenzhen stock markets as an example, this paper scientifically calculates the value of employee stock options in 2006-2018 by year and industry in China. The results show that at the national level, the employee stock option value in China generally shows a rapid growing trend, with an average annual growth rate of 41.48%. At the industry level, the employee stock option value is obviously concentrated; manufacturing, information transmission, software and information technology service industry and real estate industry account for more than 80% of the total value. Considering the difficulties encountered in the actual accounting process, this paper puts forward some suggestions that the accounting system and statistical system should be improved in order to carry out employee stock option accounting in China.

Key words: Employee Stock Option, CWZ Model, Accounting