search query: @indexterm FINANCIAL THEORY / total: 142
reference: 72 / 142
| Author: | Scholes, M.S. |
| Title: | Stock and compensation |
| Journal: | Journal of Finance
1991 : JUL, VOL. 46:3, p. 803-823 |
| Index terms: | CORPORATE FINANCE STOCK OWNERSHIP COMPENSATION FINANCIAL THEORY |
| Language: | eng |
| Abstract: | Compensation planning within firms creates important corporate financial problems. Employees fund a large proportion of their firm's activities through deferred compensation arrangements tied to the performance of their company. These arrangements are generally put in place for incentive reasons, to align the interests of employees more closely with those of shareholders. Moreover, tax rules encourage or discourage these arrangements at various times. Currently , both tax rules and incentive considerations encourage stock buyback programs to fund deferred compensation arrangements. |
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