search query: @indexterm incentives / total: 682
reference: 218 / 682
Author: | Hall, B.J. Murphy, K.J. |
Title: | Stock options for undiversified executives |
Journal: | Journal of Accounting & Economics
2002 : FEB, VOL. 33:1, p. 3-42 |
Index terms: | COMPENSATION INCENTIVES RISK AVERSION STOCK OPTIONS |
Language: | eng |
Abstract: | The authors employ a certainty-equivalence framework to analyze the cost, value and pay/performance sensitivity of non-tradable options held by undiversified, risk-averse executives. The authors derive "executive value" lines, the risk-adjusted analogues to Black-Scholes lines. |
SCIMA