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| Author: | Hagelin, N. (et al.) |
| Title: | Managerial stock options and the hedging premium |
| Journal: | European Financial Management
2007 : SEP, VOL. 13:4, p. 721-741 |
| Index terms: | company value hedging incentives |
| Language: | eng |
| Abstract: | Former studies have found mixed evidence on whether hedging increases company value. Some studies have shown that managerial incentives may influence company hedging. This article provides evidence that when hedging is based upon incentives from managers' options, company value decreases. |
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